On CNBC's “Mad Money Lightning Round,” Jim Cramer recommended staying long on Watts Water Technologies, Inc. (NYSE: WTS).
Lending support to his choice, Watts Water, on Aug. 6, reported quarterly earnings of $3.09 per share. It beat the analyst consensus estimate of $2.63 per share.
“I think [Watts Water] is exactly the type of thing you don’t want to trade it,” Cramer said. “You want to own it. It’s just a great American manufacturer.”
The North Andover, Massachusetts-based company reported quarterly sales of $643.700 million, which beat the analyst consensus estimate of $608.142 million.
Cramer recommended NVIDIA Corporation (NASDAQ: NVDA), when asked about Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM).
Taiwan Semiconductor Manufacturing plans to break ground on a new 1.4-nanometer fabrication plant in Taichung next quarter. The facility is expected to reach an annual production value of up to 500 billion New Taiwanese dollars ($16.49 billion), the Taipei Times reported on Wednesday citing the Central Taiwan Science Park Bureau.
Cramer recommended waiting, when asked about Western Digital (NASDAQ: WDC). “I bet you can buy that stock at $100, not that long from now,” he added.
On Wednesday, BofA Securities analyst Wamsi Mohan maintained Western Digital with a Buy and raised the price target from $123 to $141.
Price Action:
- Taiwan Semiconductor shares fell 0.7% to settle at $280.71 on Wednesday.
- Western Digital shares fell 0.5% to close at $109.69.
- Watts Water Technologies shares declined 1.3% to settle at $275.77 on Wednesday.
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