NEW YORK (

TheStreet

) --

Tekelec

(Nasdaq:

TKLC

) is trading at unusually high volume Friday with three million shares changing hands. It is currently at four times its average daily volume and trading up 26 cents (+3.1%) at $8.62 as of 12:35 p.m. ET. Tekelec has a market cap of $804.5 million and is part of the

technology

sector and

telecommunications

industry. Shares are down 29.8% year to date as of the close of trading on Thursday.

Tekelec engages in the design, development, manufacture, marketing, sale, and support of telecommunications products and services. The company has a P/E ratio of 20.9, above the average telecommunications industry P/E ratio of 20.6 and below the S&P 500 P/E ratio of 23.5.

TheStreet Ratings rates Tekelec as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity. You can view the full

Tekelec Ratings Report

.

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