NEW YORK ( TheStreet) -- Shares of Mellanox Technologies (Nasdaq: MLNX) were gapping up Thursday morning with an open price 16.4% higher than Wednesday's closing price. The stock closed at $31.16 Wednesday and opened today's trading at $36.28. The average volume for Mellanox has been 247,700 shares per day over the past 30 days. Mellanox has a market cap of $1.26 billion and is part of the technology sector and electronics industry. Shares are down 4.1% year to date as of the close of trading on Wednesday. Mellanox Technologies, Ltd., a fabless semiconductor company, engages in the design, development, marketing, and sale of interconnect products primarily in North America, Israel, Europe, and Asia. The company has a P/E ratio of 266.1, equal to the average electronics industry P/E ratio and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Mellanox 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, growth in earnings per share, increase in net income and good cash flow from operations. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Mellanox Ratings Report. Get more investment ideas from our investment research center. Interested in other stocks that are gapping up? Get free SMS text alerts sent to you when the action happens by texting UP to 95370 or select from multiple alert options.