Jim Cramer's Mad Dash: Don't Be Negative on Semiconductors Yet

NEW YORK (TheStreet) -- On CNBC's "Cramer's Mad Dash" segment, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, dissected an analysis on the semiconductor market from Goldman Sachs. 

The Goldman analyst downgraded NXP Semiconductors (NXPI)   to sell from hold and lowered the 12-month price target on the stock to $54 from $58. The analyst is also expecting the semiconductor index to drop by 10%, at a minimum, Cramer said.

"I am not with this Goldman call," Cramer said, citing positive outlooks from Cisco Systems (CSCO) and Avnet (AVT) .

"I'm not saying he's wrong," but that perhaps he's too early with the negative outlook, Cramer said.

- - Written by Bret Kenwell in Petoskey, Mich.

Follow @BretKenwell

At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter.

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