According to the ETF Finder at ETF Channel, CY makes up 3.02% of the SPDR S&P Semiconductor ETF (XSD) which is higher by about 1.1% on the day Monday.
In afternoon trading Monday, CY was up about 2.4% on the day.
Cramer says wait for Cypress Semiconductor to come down more and stay away from Ryerson.
The risks of a September interest rate hike are now too great to be ignored, Cramer says.
The San Jose, Calif.-based chipmaker has a new CEO who is touted for his ability to drive transformation.