LSI CEO on Defying the Tech Sector
After a rough ride on Wall Street Wednesday, it might be worth looking at some stocks in out-of-favor sectors that are defying the trend, Jim Cramer said Wednesday on CNBC's "Mad Money."
Take semiconductor maker LSI Corp, for instance. Despite the declining tech sector, LSI has managed to profit from powerful secular trends. Cramer said the chipmaker has actually benefited from the explosion of digital information, or “data deluge,” as LSI calls it.
The Milpitas, Calif.-based company makes chips for hard drives, servers and storage systems for storing data, as well as the hardware needed to transport data. In turn, LSI’s products allow mobile networks and data centers to operate on the cloud, which Cramer considers the future of technology.
LSI's stock is currently up 14 percent year-to-date, but it has suffered losses in the past few months. The company also released quarterly earnings that beat analyst expectations.
Is LSI a bargain at current levels then? To find out, Cramer spoke with Abhi Talwalkar, president and CEO of LSI. Watch the video to see the entire interview.
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