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Could This Laggard Soon Play Catch Up?

It has become more difficult to find amazing bargain stocks afer the market's fantastic run over the last few weeks, Cramer said Friday. In turn, investors should look for laggards that could soon play catch up.

The "Mad Money" host drew attention to the semiconductor space, which he thinks could soon turn around. After all, he noted inventories of chips are low and Europe might not be facing the recession some had feared.

(RELATED: 10 Tech Stocks That Have Hit Bottom)

Cramer especially likes Cypress Semiconductor , a small company with a $3 billion market cap that makes a variety of technology products. Last week, the company reported strong quarterly results. Billings were not so hot, though, and company executives addressed a few potential macroeconomic headwinds. None of it was enough to disuade Cramer, though. He thinks it's cheap based on its growth rate and compared to its peers.

So to learn more about the company's future prospects, Cramer spoke with CEO TJ Rodgers. Check out the video to see the full interview.

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