NEW YORK ( TheStreet) -- Cabot Microelectronics Corporation (Nasdaq: CCMP) hit a new 52-week high Thursday as it traded at $49.98 compared with its previous 52-Week high of $49.94. Cabot Microelectronics is changing hands at $49.96 with 35,679 shares traded as of 11:05 a.m. ET. Average volume has been 166,300 shares over the past 30 days. Cabot Microelectronics has a market cap of $1.1 billion and is part of the technology sector and electronics industry. Shares are up 16.4% year to date as of the close of trading on Wednesday. Cabot Microelectronics Corporation engages in the development, manufacture, and sale of chemical mechanical planarization (CMP) consumables to the semiconductor industry. The company has a P/E ratio of 21.1, equal to the average electronics industry P/E ratio and below the S&P 500 P/E ratio of 21.5. TheStreet Ratings rates Cabot Microelectronics 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 expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Cabot Microelectronics Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.