NEW YORK ( TheStreet) -- CEVA (Nasdaq: CEVA) is trading at unusually high volume Thursday with 971,487 shares changing hands. It is currently at four times its average daily volume and trading up $3.57 (+12.7%) at $31.62 as of 2:51 p.m. ET. CEVA has a market cap of $633 million and is part of the technology sector and electronics industry. Shares are up 36.8% year to date as of the close of trading on Wednesday. CEVA, Inc., together with its subsidiaries, engages in designing and licensing silicon intellectual property (SIP) for the handsets, portable multimedia, and consumer electronics markets primarily in Europe, the Middle East, and the Asia Pacific. The company has a P/E ratio of 39.2, below the average electronics industry P/E ratio of 39.8 and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates CEVA 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. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full CEVA Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Interested in other stocks that are rising on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVUP to 95370 or select from multiple alert options.