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 14.1% higher than Thursday's closing price. The stock closed at $26.45 Thursday and opened today's trading at $30.17.

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The average volume for Spreadtrum has been 1.3 million shares per day over the past 30 days. Spreadtrum has a market cap of $1.25 billion and is part of the technology sector and electronics industry. Shares are up 49% 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 Hong Kong, Mailand China, and others.

TheStreet Ratings rates Spreadtrum as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Spreadtrum Ratings Report.

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