Spreadtrum Stock Falls On Unusually High Volume (SPRD)
Spreadtrum Communications (Nasdaq:SPRD) is trading at unusually high volume Friday with 6.2 million shares changing hands. It is currently at four times its average daily volume and trading down $4.11 (-21.3%).
NEW YORK ( TheStreet) -- Spreadtrum Communications (Nasdaq: SPRD) is trading at unusually high volume Friday with 6.2 million shares changing hands. It is currently at four times its average daily volume and trading down $4.11 (-21.3%) at $15.15 as of 3:25 p.m. ET. Spreadtrum has a market cap of $962.1 million and is part of the technology sector and electronics industry. Shares are down 7.8% year to date as of the close of trading on Thursday. 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 8.3, above the average electronics industry P/E ratio of 3.3 and below the S&P 500 P/E ratio of 17.7. 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. 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 falling on unusually high volume? Get free SMS text alerts sent to you when the action happens by texting HVDOWN to 95370 or select from multiple alert options.