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NEW YORK ( TheStreet) -- Varian Semiconductor Equipment Associates (Nasdaq: VSEA) hit a new 52-week high Thursday as it is currently trading at $61.57, above its previous 52-week high of $61.55 with 1.6 million shares traded as of 10:43 a.m. ET. Average volume has been 2.4 million shares over the past 30 days. Varian Semiconductor Equipment Associates has a market cap of $4.6 billion and is part of the technology sector and electronics industry. Shares are up 66.1% year to date as of the close of trading on Wednesday. Varian Semiconductor Equipment Associates, Inc. designs, manufactures, markets, and services semiconductor processing equipment used in the fabrication of integrated circuits to the semiconductor manufacturers worldwide. The company has a P/E ratio of 18, equal to the average electronics industry P/E ratio and above the S&P 500 P/E ratio of 17.7.