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NEW YORK ( TheStreet) -- Cabot Microelectronics Corporation (Nasdaq: CCMP) hit a new 52-week high Friday as it traded at $50.39 compared with its previous 52-Week high of $50. Cabot Microelectronics is changing hands at $50.39 with 41,958 shares traded as of 10:56 a.m. ET. Average volume has been 167,200 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 18% year to date as of the close of trading on Thursday. 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 above the S&P 500 P/E ratio of 16.