Jim Cramer has declared his favorite semiconductor stock for the year, and no, it is not riding on the coattails of Apple to flourish.
Cypress Semiconductor is a company that makes touchscreen chips for non-Apple smartphones and tablets. The chips that they sell are used in everything from USB devices, industrial applications and as static random access memory chips. It is at the center of any non-Apple snazzy technology.
In Cramer's long tenure of investing, he has seen that semiconductor consolidation deals can yield big results for investors, which is why he has declared it as his favorite. In December, Cypress announced a $4 billion merger with Spansion, another chipmaker.
"I want you to stick with Cypress Semi while we wait for the transaction to close because it sports a terrific 3.1 percent dividend yield, and it's run by the great T.J. Rogers," said the "Mad Money" host.