NEW YORK ( TheStreet) -- Coherent (Nasdaq: COHR) hit a new 52-week high Thursday as it traded at $61.86 compared with its previous 52-Week high of $61.61. Coherent is changing hands at $61.75 with 27,552 shares traded as of 10:55 a.m. ET. Average volume has been 160,100 shares over the past 30 days. Coherent has a market cap of $1.5 billion and is part of the technology sector and electronics industry. Shares are up 35.4% year to date as of the close of trading on Wednesday.

Coherent, Inc. provides photonics-based solutions for commercial and scientific research applications worldwide. It engages in the design, manufacture, servicing, and marketing of lasers, precision optics, and related accessories. The company has a P/E ratio of 29.3, equal to the average electronics industry P/E ratio and above the S&P 500 P/E ratio of 23.3.

TheStreet Ratings rates Coherent 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, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full Coherent Ratings Report.

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