How Cheap Is Novellus?

Novellus still has $643 million left in its share-repurchase program, a figure equivalent to about 22 percent of the market cap. If management decides to spend that cash aggressively, that could really move the stock.

Now, Cramer already thinks this semiconductor-equipment company is cheap, trading at just 10.6 times next year’s earnings with a 13.5-percent long-term growth rate. And it’s in a sector that is seeing a nice bump in business thanks to the thriving sales of smartphones, netbooks, tablets and PCs. But just how cheap does Novellus think it itself is?

To find out, Cramer invited Chairman and CEO Rick Hill to “Mad Money.” Watch the video for the full interview.

Call Cramer: 1-800-743-CNBC

Questions for Cramer?

Questions, comments, suggestions for the Mad Money website?