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Cypress Semi’s Soaring, but Will It Last?

Cramer “wasn’t the least bit surprised,” he said Thursday, when Cypress Semiconductor last week reported a very strong quarter. Not when the company’s at the heart of some of the biggest trends in chip-making today.

While semis used to be a cyclical business, surging and pulling back depending on industry needs, the rise of smartphones and tablets has turned this into a year-round endeavor. And Cypress makes the chips that power touch-screens of all kinds, excluding only Apple’s iPad, iPhone and iTouch devices.

Cypress does more than just that, though. The company also makes what are known as programmable systems on a chip, which are small, lower-power semis used in mobile phones and tablets, in addition to the controller chips that allow smartphones to communicate with computers more directly.

Also, there are Cypress’ SRAM chips, or static random access memory, which has typically been a commodity product but the company is making newer models with better features. Cloud-computing names like Acme Packet and F5 Networks need these new SRAM chips, Cramer said, further driving business for Cypress.

This is why the stock has doubled since Cramer added it to his Mad Money Mobile Internet Index. And it’s up 75 percent just since his interview with CEO T.J. Rodgers in October. Of course, Cramer cares less about the past when it comes to stocks than the future. So to find out what it holds for Cypress Semi, he invited Rodgers back to the show. Watch the video for the full interview.

When this story published, Cramer’s charitable trust owned Apple.

Call Cramer: 1-800-743-CNBC

Questions for Cramer? madmoney@cnbc.com

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