Silicon Rises On Unusually High Volume (SLAB)

NEW YORK ( TheStreet) -- Silicon Laboratories (Nasdaq: SLAB) is trading at unusually high volume Thursday with 1.1 million shares changing hands. It is currently at four times its average daily volume and trading up $1.26 (+3.7%) at $34.92 as of 2:20 p.m. ET.

Silicon has a market cap of $1.72 billion and is part of the technology sector and electronics industry. Shares are down 22.5% year to date as of the close of trading on Wednesday.

Silicon Laboratories Inc., a fabless semiconductor company, designs, develops, and markets analog-intensive and mixed-signal integrated circuits (ICs). The company has a P/E ratio of 51.1, equal to the average electronics industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Silicon as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, growth in earnings per share, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Silicon Ratings Report.

See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.
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