NEW YORK ( TheStreet) -- Applied Materials (Nasdaq: AMAT) hit a new 52-week high Tuesday as it traded at $16.74 compared with its previous 52-Week high of $16.67. Applied is changing hands at $16.68 with 1.3 million shares traded as of 9:35 a.m. ET. Average volume has been 15.4 million shares over the past 30 days.

Applied has a market cap of $21.3 billion and is part of the technology sector and electronics industry. Shares are up 16.9% year to date as of the close of trading on Monday.

Applied Materials, Inc. provides nanomanufacturing technology solutions for the semiconductor, flat panel display, solar, and related industries worldwide. Its Silicon segment provides a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits. The company has a P/E ratio of 17.3, above the average electronics industry P/E ratio of 15.8 and below the S&P 500 P/E ratio of 21.8.

TheStreet Ratings rates Applied 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. 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 Applied Ratings Report.

See all 52-week high stocks or get investment ideas from our investment research center.