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Cramer's #4 Speculative Tech Pick: ON Semiconductor (ONNN, TKLC, BRCD, CDNS)
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Jim Cramer came out with his fourth speculative technology stock pick on CNBC’s MAD MONEY tonight. His #4 pick for the basket is ON Semiconductor Corp. (NASDAQ: ONNN). He said the company did a monster beat of earnings estimates yesterday and gave guidance that was better than expected. It acted cautiously optimistic but Cramer noted two quarters of visibility. He said this stock should not have fallen today, and that was because tech sold off.
The company is getting its balance sheet better and is paying down debt. ONNN offers power, analog, digital signal processing, mixed signal, logic, data management semiconductors…. This closed down 6% at $5.71, but traded up 11% to $6.30 in the first after-hours session. The 52-week trading range is $2.35 to $10.85.
Cramer has been making other picks this week for a basket of speculative tech stocks in the down and out sector. His other picks from this week are as follows:
- Monday was Tekelec (TKLC) FULL DETAILS
- Tuesday was Brocade (NASDAQ: BRCD) FULL DETAILS
- Wednesday was Cadence Design (NASDAQ: CDNS) FULL DETAILS
Stay tuned tomorrow as we will get the last pick of this speculative technology stock basket.
JON C. OGG
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