NEW YORK ( TheStreet) -- Oplink Communications (Nasdaq: OPLK) hit a new 52-week high Friday as it traded at $28.37 compared with its previous 52-Week high of $28. Oplink is changing hands at $28.15 with 301,669 shares traded as of 11:11 a.m. ET. Average volume has been 235,100 shares over the past 30 days. Oplink has a market cap of $538.3 million and is part of the technology sector and electronics industry. Shares are up 46.3% year to date as of the close of trading on Thursday. Oplink Communications, Inc. designs, manufactures, and sells optical networking components and subsystems worldwide. The company has a P/E ratio of 27.9, equal to the average electronics industry P/E ratio and above the S&P 500 P/E ratio of 23.4. TheStreet Ratings rates Oplink 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, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Oplink Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.