CNBC’s Jim Cramer’s newfound love for Newport Beach-based Mindspeed Technologies Inc. helped the chipmaker’s shares rise more than 14% Tuesday.
Mindspeed Technologies, a maker of telecommunications chips, could benefit from the building of networks that handle phone calls over the Internet, Cramer said during the Monday edition of his show “Mad Money.”
The chipmaker could make a good acquisition candidate for others in the market, Cramer said.
Mindspeed has a market value of about $400 million.
Cramer’s appreciation for other Orange County stocks have helped them post similar big gains in the past several months, including Costa Mesa-based Ceradyne Inc., a maker of lightweight military armor.
One of Cramer’s favorite stocks is none other than Mindspeed’s former parent, Newport Beach-based Conexant Systems Inc., a maker of communications chips.
During the show Monday, Cramer re-emphasized his endorsement of Conexant, though its shares didn’t get the same boost as Mindspeed, rising only about 1%.
