Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. NEW YORK ( TheStreet) -- Ericsson Telephone Company (Nasdaq: ERIC) is trading at unusually high volume Friday with 8.4 million shares changing hands. It is currently at two times its average daily volume and trading up 64 cents (+5.6%) at $12.24 as of 3:51 p.m. ET.
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Ericsson Telephone has a market cap of $35.26 billion and is part of the technology sector and telecommunications industry. Shares are up 5.6% year to date as of the close of trading on Thursday. Ericsson provides communications equipment, professional services, and multimedia solutions to mobile and fixed networks operators worldwide. The company has a P/E ratio of 15.8, below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Ericsson Telephone 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, reasonable valuation levels, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Ericsson Telephone Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. It's Official: Action Alerts PLUS beats the S&P 500 with Dividends Reinvested! Cramer and Link were up 16.72% in 2012. Were you? See what they are trading for 14-days FREE.