Polycom (Nasdaq:PLCM) hit a new 52-week high Wednesday as it changed hands at $50.38 compared with its previous 52-week high of $49.99. Polycom is currently trading at $50.31 with 213,533 shares changing hands as of 9:57 a.m.
NEW YORK ( TheStreet) -- Polycom (Nasdaq: PLCM) hit a new 52-week high Wednesday as it traded at $50.38 compared with its previous 52-Week high of $49.99. Polycom is changing hands at $50.31 with 213,533 shares traded as of 9:57 a.m. ET. Average volume has been 1.1 million shares over the past 30 days. Polycom has a market cap of $4.2 billion and is part of the technology sector and telecommunications industry. Shares are up 25.2% year to date as of the close of trading on Tuesday. Polycom, Inc. provides communications solutions to enterprise, government, education, and healthcare customers to enable voice, video, and content communications. It operates in three segments: Video Communications Solutions, Voice Communications Solutions, and Services. The company has a P/E ratio of 61.9, equal to the average telecommunications industry P/E ratio and above the S&P 500 P/E ratio of 16. TheStreet Ratings rates Polycom as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Polycom Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.