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.”

4. Corteva, Inc. (NYSE:CTVA)

Number of Hedge Fund Holders: 52

At the end of the first quarter, 52 hedge funds held stakes in Corteva, Inc. (NYSE:CTVA), with a total stake value of $1.1 billion.

Cramer is bullish on Corteva, Inc. (NYSE:CTVA), but he noted that this “has to be long-term.”

On May 22, analysts at Vertical Research upgraded Corteva, Inc. (NYSE:CTVA) shares from Hold to Buy. They also placed a $67 price target on the stock.

3. Bristol-Myers Squibb Company (NYSE:BMY)

Number of Hedge Fund Holders: 69

Barclays analysts hold an Equal Weight rating on Bristol-Myers Squibb Company (NYSE:BMY) shares as of May 1, alongside a $65 price target.

Bristol-Myers Squibb Company (NYSE:BMY) was spotted in the portfolios of 69 hedge funds in the first quarter. Their total stake value was $1.6 billion.

Cramer notes that while “people have given up on the drug stocks,” he will not give up on Bristol-Myers Squibb Company (NYSE:BMY) “because things are never so rosy that you can’t have a drug stock in your portfolio, and Bristol is a good one.”

2. T-Mobile US, Inc. (NYSE:TMUS)

Number of Hedge Fund Holders: 89

Our hedge fund data shows 89 funds long T-Mobile US, Inc. (NYSE:TMUS) in the first quarter, with a total stake value of $4.4 billion.

According to Cramer, T-Mobile US, Inc. (NYSE:TMUS) has “by far the best growth,” and this is the factor that matters most to him “when investing in technology.”

Analysts at Tigress Financial see T-Mobile US, Inc. (NYSE:TMUS) as a Buy as of May 19. They have raised the stock’s price target from $202 to $204.

1. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 132

NVIDIA Corporation (NASDAQ:NVDA) is Cramer’s favorite play in the chipmaking business. He stated that the company has “zero competition in the chip space.”

Morgan Stanley has an Overweight rating on NVIDIA Corporation (NASDAQ:NVDA) as of May 25, alongside a $450 price target.

NVIDIA Corporation (NASDAQ:NVDA) was in the 13F holdings of 132 hedge funds in the first quarter. Their total stake value was $12.3 billion.

See also 12 Cheap Penny Stocks to Buy According to Hedge Funds and 11 Best Dow Jones Dividend Stocks According to Hedge Funds.