Spreadtrum Stock Gaps Up On Today's Open (SPRD)

NEW YORK ( TheStreet) -- Shares of Spreadtrum Communications (Nasdaq: SPRD) were gapping up Friday morning with an open price 13.6% higher than Thursday's closing price. The stock closed at $13.43 Thursday and opened today's trading at $15.25.

The average volume for Spreadtrum has been 1.2 million shares per day over the past 30 days. Spreadtrum has a market cap of $645.7 million and is part of the technology sector and electronics industry. Shares are down 35.7% year to date as of the close of trading on Thursday.

Spreadtrum Communications, Inc., a fabless semiconductor company, engages in the design, development, and marketing of mobile chipset platforms for smartphones, feature phones, and other consumer electronics products in the People's Republic of China and internationally. The company has a P/E ratio of 5.5, equal to the average electronics industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Spreadtrum as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, compelling growth in net income, notable return on equity, attractive valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full Spreadtrum Ratings Report.

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Spreadtrum Stock Gaps Up On Today's Open (SPRD)