Jim Cramer Says "Qnity Has Become One of My Favorite New Stocks"

Qnity Electronics, Inc. (NYSE:

) is one of the S&P 500 stocks that Jim Cramer shared his take on. Cramer believes that being spun off was good for the company, as he said:

In seventh and eighth places, we’ve got two semiconductor-related names, Teradyne, up 32.8%, and Qnity Electronics, up 31.8%. Teradyne is a semiconductor test and measurement play, while Qnity Electronics is a recent DuPont spinoff, another big Charitable Trust holding, makes materials that are used to produce semiconductors, including some of the most advanced chips out there. While many areas of tech are suffering, the semiconductor complex has been doing terrifically.

In fact, Qnity has become one of my favorite new stocks. Long buried within DuPont and underappreciated, this business is finally getting the attention it deserves as an independent entity that’s in the materials business. Last week, the company reported a blowout quarter. It’s been an incredibly successful breakup for Qnity, also has been for DuPont, which has been performing very well since the spinoff. That’s legacy, DuPont.

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Qnity Electronics, Inc. (NYSE:Q) provides materials and chemical solutions used in the manufacturing of semiconductors and electronic components.