PMC Sierra

(PMCS)

was up 2.7% in early

Nasdaq

trading Friday after its post-close announcement that third-quarter profits nearly tripled, thanks to strong sales.

The networking chipmaker said it earned 31 cents per share before items, better than the Street's forecast of 26 cents. The year-ago result was 11 cents. The company said fourth-quarter sales should rise 15% from last quarter's.

Lehman Brothers

raised its earnings estimates and reiterated its buy rating and price target of $250.