Was Jim Cramer Right About These 16 Stocks?

5. On Semiconductor Corp. (NASDAQ:ON)

Number of Hedge Fund Investors: 52

At the time, Cramer saw On Semiconductor Corp. (NASDAQ:ON) as a long-term winner, despite short-term pressure in the EV sector. While acknowledging that EV sales had slowed, he remained confident in the company’s future demand, saying:

“We have to deal with a couple of facts: you have the single best chips for the most advanced autos in the world (EVs). Electrification is the future. E-mobility is happening.”

ON has been beaten down over the past year, dropping by 43.75%.

On the 3rd of February, Cramer acknowledged the company’s struggles, saying:

“The fourth worst performer in the S&P last month was ON Semiconductor, that’s down 17%. This chipmaker is a leading supplier for the auto industry and though it doesn’t report until next week, the stock got hit after Texas Instruments reported last Monday and gave a dour outlook for the automotive and industrial end markets. The semiconductor cohort is all over the place. The ones selling into the AI team are still doing pretty well, but anything cyclical like Texas Instruments or ON Semi has, it had a real tough go.”