Jim Cramer: This Semiconductor Company Is 'Too Late To Auto,' But Super Micro Is 'Too Hot'

On CNBC’s "Mad Money Lightning Round," Jim Cramer said Indie Semiconductor, Inc. (NASDAQ: INDI) is "too late to auto, and I’m not interested, or as interested, in the auto, in the ADAS, or the, frankly, self-driving. I’m just not there."

On Feb. 22, Indie Semiconductor posted weaker-than-expected sales results for its fourth quarter.

"I’ve been saying it’s doing well for a very long time, and I’m sticking by my view," Cramer said about On Holding AG (NYSE: ONON).

On is scheduled to release its fourth quarter and full year 2023 financial results before the opening bell on March 12, 2024.

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When asked about Confluent, Inc. (NYSE: CFLT), he said, "You got to give it a couple quarters because they’ve had some issues involving their financials…we’re going to have to hold off there."

On Feb. 7, Confluent reported better-than-expected fourth-quarter financial results. Total revenues surged 26% year-over-year in the fourth quarter.

Cramer expressed his belief that Chewy, Inc. (NYSE: CHWY) is bottoming.

Chewy is expected to report fiscal fourth quarter and full year 2023 financial results after the closing bell on March 20, 2024. Analysts expect the company to report a quarterly loss at 4 cents per share on revenue of $2.77 billion.

Super Micro Computer, Inc. (NASDAQ: SMCI) has gotten "too hot" for me, the "Mad Money" host said. "I’ve got to pullback on this one."

Super Micro Computer shares jumped more than 18% on Monday after the S&P Dow Jones Indices announced that the company is set to join the S&P 500. Goldman Sachs initiated coverage on the stock with a Neutral rating and announced a $941 price target.

Price Action:

• Shares of Confluent gained 0.7% to close at $34.53 on Monday.
• Super Micro Computer shares jumped 18.7% to close at $1,074.34 on Monday.
• Chewy shares fell 1.8% to settle at $17.71.
• On Holding shares fell 1.8% to settle at $34.03 on Monday.
• indie Semiconductor shares fell 1.3% to close at $6.77 on Monday.

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