NEW YORK ( TheStreet) -- Spreadtrum Communications (Nasdaq: SPRD) hit a new 52-week high Tuesday as it is currently trading at $24.45, above its previous 52-week high of $24.20 with 325,152 shares traded as of 10:10 a.m. ET. Average volume has been 1.2 million shares over the past 30 days. Spreadtrum has a market cap of $1.1 billion and is part of the technology sector and electronics industry. Shares are up 30.1% year to date as of the close of trading on Monday. Spreadtrum Communications, Inc., through its subsidiaries, operates as a fabless semiconductor company that designs, develops, and markets baseband processor and RF transceiver solutions for wireless communications and mobile television markets. The company has a P/E ratio of 11.3, above the average electronics industry P/E ratio of 5.4 and below the S&P 500 P/E ratio of 17.7.
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