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Shares of International Rectifier Corp. (NYSE:IRF) hit a new 52-week high during trading on Wednesday following a better than expected earnings announcement, Analyst Ratings Net reports. The company traded as high as $39.50 and last traded at $39.12, with a volume of 8,352,495 shares traded. The stock had previously closed at $26.56.

The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.01. The company had revenue of $297.60 million for the quarter, compared to the consensus estimate of $288.24 million. During the same quarter in the previous year, the company posted ($0.02) earnings per share.

The stock has a 50-day moving average of $26.74 and a 200-day moving average of $26.66. The company has a market cap of $2.786 billion and a price-to-earnings ratio of 47.77.

International Rectifier Corporation (NYSE:IRF) designs, manufactures and markets power management semiconductors.

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