Update (4:43 p.m. EST): Updated with closing price, day high and low prices, price change and volume information.
NEW YORK (TheStreet) -- Anadigics (ANAD) rose 16.11% to $2.09, up 29 cents from its previous close of $1.80, at the close of the trading day on Tuesday after Samsung selected the company to provide amplifiers for its new Galaxy Trend 3.
The stock had a volume of 3,266,296, well above its average of 436,860. it hit a high of $2.15 and a low of $1.83 for the day.
The Warren, N.J.-based radio frequency solutions company announced that it is sending production volumes of its AWT5001 and AWT5008 ProVantage power amplifiers to Samsung for use on the Galaxy Trend 3. The ProVantage solutions use Anadigics' InGaP-Plus technology to optimize performance, offer space-saving integration and decrease overall system cost.
"We are very pleased to be powering the new Galaxy Trend 3 by Samsung Electronics," said Jerry Miller, senior vice president of cellular products at Anadigics, in a statement. "Our ProVantage solutions deliver outstanding value by providing a best-in-class combination of high power mode efficiency, linearity, and reduced system costs. With a complete portfolio of industry-leading solutions we continue to help Samsung bring to market a diverse set of mobile devices that target a wide range of segments."
TheStreet Ratings team rates ANADIGICS INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about its recommendation:
"We rate ANADIGICS INC (ANAD) a SELL. This is driven by multiple weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, poor profit margins and generally disappointing historical performance in the stock itself."