NEW YORK ( TheStreet) -- Shares of LSI Corporation (NYSE: LSI) have taken a tremendous swing upward. The stock is trading at $7.28 as of 10:55 a.m. ET, 20.3% above Wednesday's closing price of $6.05. Volume is at 19.2 million, two times the daily average of 9.5 million.
LSI has a market cap of $3.37 billion and is part of the technology sector and electronics industry. Shares are up 1.7% year to date as of the close of trading on Wednesday. LSI Corporation designs, develops, and markets storage and networking semiconductors worldwide. The company has a P/E ratio of 23.7, above the average electronics industry P/E ratio of nine and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates LSI 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, impressive record of earnings per share growth, compelling growth in net income 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 LSI Ratings Report. See our top % gaining stocks list for other stocks that are soaring today, or get investment ideas from our investment research center.