Spreadtrum Stock Hits New 52-Week High (SPRD)

NEW YORK ( TheStreet) -- Spreadtrum Communications (Nasdaq: SPRD) hit a new 52-week high Monday as it is currently trading at $29.01, above its previous 52-week high of $28.85 with 147,827 shares traded as of 9:36 a.m. ET. Average volume has been 1.2 million shares over the past 30 days.

Spreadtrum has a market cap of $1.3 billion and is part of the technology sector and electronics industry. Shares are up 56.3% year to date as of the close of trading on Friday.

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 11.1, above the average electronics industry P/E ratio of 6.5 and below the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates Spreadtrum as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company has not been very careful in the management of its balance sheet. You can view the full Spreadtrum Ratings Report.

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