NEW YORK (

TheStreet

) --

IPG Photonics Corporation

(Nasdaq:

IPGP

) hit a new 52-week high Friday as it traded at $56.49 compared with its previous 52-Week high of $55.46. IPG Photonics is changing hands at $56.30 with 36,878 shares traded as of 9:32 a.m. ET. Average volume has been 297,700 shares over the past 30 days.

IPG Photonics has a market cap of $2.3 billion and is part of the

technology

sector and

electronics

industry. Shares are up 64% year to date as of the close of trading on Thursday.

IPG Photonics Corporation manufactures fiber lasers and amplifiers for use in a range of markets, such as materials processing, advanced technologies, telecommunications, and medical applications. The company has a P/E ratio of 78, equal to the average electronics industry P/E ratio and above the S&P 500 P/E ratio of 22.6.

TheStreet Ratings rates IPG Photonics as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, compelling growth in net income, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full

IPG Photonics Ratings Report

.

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