NEW YORK ( TheStreet) -- MIPS Technologies (Nasdaq: MIPS) is trading at unusually high volume Thursday with 3.4 million shares changing hands. It is currently at 4.1 times its average daily volume and trading up $1.01 (+19.4%) at $6.22 as of 2:20 p.m. ET. MIPS has a market cap of $271.9 million and is part of the technology sector and electronics industry. Shares are up 13.7% year to date as of the close of trading on Wednesday. MIPS Technologies, Inc. provides industry-standard processor architectures and cores for digital home, networking, and mobile applications primarily in the United States, Japan, the Pacific Rim, and Europe. The company has a P/E ratio of 84.3, below the average electronics industry P/E ratio of 85.3 and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates MIPS as a hold. Among the primary strengths of the company is its solid financial position based on a variety of debt and liquidity measures that we have evaluated. At the same time, however, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins. You can view the full MIPS 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.