NEW YORK ( TheStreet) -- Shares of Mellanox Technologies (Nasdaq: MLNX) have taken a tremendous swing upward. The stock is trading at $55.39 as of 9:30 a.m. ET, 27.8% above Wednesday's closing price of $43.33. Volume is at 277,850, one times the daily average of 280,200. Mellanox has a market cap of $1.67 billion and is part of the technology sector and electronics industry. Shares are up 33.4% year to date as of the close of trading on Wednesday. Mellanox technologies, Ltd., a fabless semiconductor company, produces and supplies interconnect products for computing, storage, and communication applications in the computing, Web 2.0, storage, financial services, database, and cloud markets. The company has a P/E ratio of 167.1, above the average electronics industry P/E ratio of 160.4 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, increase in net income, good cash flow from operations and solid stock price performance. 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. See our top % gaining stocks list for other stocks that are soaring today, or get investment ideas from our investment research center.