Private equity player Blackstone (BX) is reducing its stake in chipmaker NXP Semiconductors (NXPI) and that is a positive for the stock, says TheStreet's Jim Cramer. Cramer said this will reduce the overhang in the stock and that is 'tremendous.' While NXPI is often discussed as a takeout play, Cramer said the real reason to own it is because the company's shares remain cheap and the internet of things is taking over the car. In his view, NXPI is the 'car semiconductor company.'
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