NEW YORK ( TheStreet) -- Atmel Corporation (Nasdaq: ATML) hit a new 52-week high Wednesday as it traded at $16.08 compared with its previous 52-Week high of $15.13. Atmel is changing hands at $16 with 1.8 million shares traded as of 9:31 a.m. ET. Average volume has been 10.2 million shares over the past 30 days. Atmel has a market cap of $6.7 billion and is part of the technology sector and electronics industry. Shares are up 19% year to date as of the close of trading on Tuesday.

Atmel Corporation designs, develops, manufactures, and markets a range of semiconductor integrated circuit (IC) products and capacitive touch solutions. The company has a P/E ratio of 58.6, equal to the average electronics industry P/E ratio and above the S&P 500 P/E ratio of 23.4.

TheStreet Ratings rates Atmel 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, expanding profit margins, good cash flow from operations and compelling growth in net income. 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 Atmel Ratings Report.
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