NEW YORK ( TheStreet) -- Ultratech (Nasdaq: UTEK) hit a new 52-week high Thursday as it traded at $26.47 compared with its previous 52-Week high of $26.39. Ultratech is changing hands at $26.23 with 36,212 shares traded as of 9:37 a.m. ET. Average volume has been 216,400 shares over the past 30 days. Ultratech has a market cap of $586.4 million and is part of the technology sector and electronics industry. Shares are up 27.9% year to date as of the close of trading on Wednesday. Ultratech, Inc. develops, manufactures, and markets photolithography and laser thermal processing equipment. The company has a P/E ratio of 35.8, equal to the average electronics industry P/E ratio and above the S&P 500 P/E ratio of 21.5. TheStreet Ratings rates Ultratech as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, compelling growth in net income, solid stock price performance 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 Ultratech Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.