NEW YORK (TheStreet) -- Shares of Intersil (ISIL) were jumping 9.6% to $20.10 on heavy trading volume mid-Wednesday afternoon as the Milpitas, CA-based chipmaker nears a deal with Renesas Electronics, according to sources cited by Reuters.

Intersil has been weighing bids from both Japanese semiconductor producer Renesas and San Jose-based integrated circuit maker Maxim Integrated Products (MXIM), but is reportedly leaning toward selling to Renesas.

The company has weighed the roughly $3 billion offer from Renesas against the possibility of an in-depth review from the Committee on Foreign Investment in the U.S. A sale to a Japanese company could result in more complications and scrutiny than a deal with U.S.-based Maxim, sources told Reuters.

An agreement between the two companies has not yet been finalized.

Intersil could announce a sale as early as next week, Reuters said, citing sources.

More than 6.31 million shares of Intersil have traded so far today vs. the 30-day average of 1.53 million shares.

Separately, 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 articles's author.

TheStreet Ratings rated this stock as a "buy" with a ratings score of B.

The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and expanding profit margins. We feel its strengths outweigh the fact that the company has had sub par growth in net income.

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

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