NEW YORK (

TheStreet

) -- Shares of

Ixia

(Nasdaq:

XXIA

) were gapping up Friday morning with an open price 15.5% higher than Thursday's closing price. The stock closed at $11.21 Thursday and opened today's trading at $12.95.

The average volume for Ixia has been 246,100 shares per day over the past 30 days. Ixia has a market cap of $832.5 million and is part of the

technology

sector and

electronics

TST Recommends

industry. Shares are up 6.7% year to date as of the close of trading on Thursday.

Ixia supplies converged network and application performance testing solutions in the United States and internationally. It designs and validates a range of Internet protocol (IP) and third generation/long-term evolution networking equipment. The company has a P/E ratio of 34.4, below the average electronics industry P/E ratio of 35.7 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Ixia as a

hold

. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and revenue growth. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year. You can view the full

Ixia Ratings Report

.

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