NEW YORK (TheStreet) -- iRobot (IRBT) hit an all-time high of $42.88 as of 11:45 a.m. on Tuesday after the designer and builder of robots earned an honor from The Patent Board for having one of the top patent portfolios in the competitive electronics and instruments industry.
The board ranked iRobot fifth on the list overall, ahead of Samsung, Panasonic and others. The company ranked second in the "Science Strength" category and third in the "Industry Impact" category. "Science Strength" measures the degree to which a company's portfolio is connected to core science, and iRobot was four times stronger in this category than the next entrant on the list. "Industry Impact" measures the influence of a company's patents on technology developed by the rest of the industry.
The company currently holds 238 U.S. patents and more than 400 worldwide patents.
Must Read: IRobot Honored For Strong Patent Portfolio
TheStreet Ratings team rates IROBOT CORP as a "buy" with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate IROBOT CORP (IRBT) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."