NEW YORK ( TheStreet) -- Cypress Semiconductor Corporation (Nasdaq: CY) is trading at unusually high volume Friday with 15.9 million shares changing hands. It is currently at 4.5 times its average daily volume and trading up 56 cents (+2.6%) at $21.83 as of 4 p.m. ET.

Cypress Semiconductor has a market cap of $3.4 billion and is part of the technology sector and electronics industry. Shares are up 14.5% year to date as of the close of trading on Thursday.

Cypress Semiconductor Corporation operates as a semiconductor company in the United States and internationally. The company delivers various high-performance, mixed-signal, programmable solutions. The company has a P/E ratio of 22, below the average electronics industry P/E ratio of 51.8 and below the S&P 500 P/E ratio of 22.6.

TheStreet Ratings rates Cypress Semiconductor as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the stock itself is trading at a premium valuation. You can view the full Cypress Semiconductor Ratings Report.

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