NEW YORK ( TheStreet) -- Shares of Standard Microsystems Corporation (Nasdaq: SMSC) were gapping up Wednesday morning with an open price 10.8% higher than Tuesday's closing price. The stock closed at $24.23 Tuesday and opened today's trading at $26.85. The average volume for Standard Microsystems has been 108,100 shares per day over the past 30 days. Standard Microsystems has a market cap of $540.5 million and is part of the technology sector and electronics industry. Shares are down 5.7% year to date as of the close of trading on Tuesday. Standard Microsystems Corporation designs and sells a range of silicon-based integrated circuits that utilize analog and mixed-signal technologies worldwide. The company has a P/E ratio of 176.9, above the average electronics industry P/E ratio of 35.2 and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Standard Microsystems as a hold. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we find that the company's revenue growth has not been good. You can view the full Standard Microsystems 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.