5 Stocks Jim Cramer and Hedge Funds Have In Common

In this article, we will be taking a look at 5 stocks Jim Cramer and hedge funds have in common. To see more of these stocks, you can go directly to see 10 Stocks Jim Cramer and Hedge Funds Have In Common.

5. ON Semiconductor Corporation (NASDAQ:ON)

Number of Hedge Fund Holders: 51

Cramer believes that ON Semiconductor Corporation (NASDAQ:ON) is “doing incredibly well,” adding that the company is “lighting the place up” as far as the AI sector is concerned.

Harsh Kumar at Piper Sandley holds an Overweight rating on ON Semiconductor Corporation (NASDAQ:ON) shares as of May 17, alongside a $100 price target.

There were 51 hedge funds long ON Semiconductor Corporation (NASDAQ:ON) in the first quarter, with a total stake value of $1.2 billion.

Aristotle Atlantic Partners, LLC mentioned ON Semiconductor Corporation (NASDAQ:ON) in its first-quarter 2023 investor letter:

“ON Semiconductor Corporation (NASDAQ:ON) supplies analog, standard logic and discrete semiconductors for data and power management. The company provides industry leading intelligent sensing and power solutions to help its customers solve the most challenging problems and create cutting edge products for a better future. Its extensive portfolio of sensors, power management, connectivity, custom and SoC, analog, logic, timing and discrete devices helps customers efficiently solve design challenges in advanced electronic systems and products. ON Semiconductor’s devices perform power and signal control, and interface functions appear in a wide range of end-user markets including automotive, communications, computing, consumer, medical, industrial, networking, telecom and aerospace/defense. Most of ON Semiconductor’s sales come from the Asia/Pacific region.

We see ON Semiconductor attractively valued and leveraged to attractive areas of end-market growth over the next few years. The company is gaining both semiconductor content and seeing better pricing tailwinds due to demand exceeding supply and more complex semiconductor content. We see these trends continuing to provide 2023 tailwinds and fully expect strong growth rates in electric vehicle penetration over the next five years.”