NEW YORK ( TheStreet) -- Coherent (Nasdaq: COHR) hit a new 52-week high Monday as it traded at $62.09 compared with its previous 52-Week high of $61.99. Coherent is changing hands at $61.97 with 66,211 shares traded as of 10:51 a.m. ET. Average volume has been 165,300 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 35.2% year to date as of the close of trading on Friday.

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 28.7, equal to the average electronics industry P/E ratio and above the S&P 500 P/E ratio of 22.6.

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 no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full Coherent Ratings Report.

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