Jim Cramer on ON Semiconductor: “Bit of a Mystery to Me”

ON Semiconductor Corporation (NASDAQ:ON) was among Jim Cramer’s stock calls on Mad Money recently. Cramer mentioned the company during the episode and said:

Finally, rounding out the top 10 performers in the S&P 500 since the bottom is ON Semiconductor, which ended up in fifth place, up 49%. Bit of a mystery to me. ON Semi, as it’s known, makes power and sensing chips but mostly for the automotive end market, which is supposed to be weak. The best I can tell is that the demand for CPUs has bled into… scenarios like this or that ON stock is doing well thanks to a combination of demand for power chips and lower interest rates, which investors think will boost new auto sales. Either way, I’ve long followed ON Semi, and I like their CEO, Hassane El-Khoury, so I won’t complain about the nice pop of the stock.

Photo by Adam Nowakowski on Unsplash

ON Semiconductor Corporation (NASDAQ:ON) provides intelligent sensing and power solutions, including integrated semiconductor devices for power conversion and signal conditioning.

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