NEW YORK (TheStreet) -- Cypress Semiconductor (CY) - Get Report stock is retreating by 0.80% to $8.68 in mid-afternoon trading on Thursday, and TheStreet's Jim Cramer, Portfolio Manager of the Action Alerts Plus charitable trust, contends in a video today that other technology stocks present better opportunities when the dollar is weak. 

"That's not really what it's levered to," Jim Cramer said of Cypress Semiconductor and the dollar, adding that the chip maker is more levered to non-Apple (AAPL) technology.

As the dollar weakens after the Federal Reserve's dovish comments earlier this week regarding interest rate hikes, investors should instead consider IBM, Apple, Alphabet (GOOGL) and Facebook (FB), Cramer mentioned.

"Those are the [stocks] that can do well in tech," he said. 

Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C-.

Cypress Semiconductor's strengths such as its robust revenue growth, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures are countered by weaknesses including deteriorating net income, disappointing return on equity and a generally disappointing performance in the stock itself.

You can view the full analysis from the report here: CY

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author. 

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