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.
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TheStreet Ratings rates Varian Semiconductor Equipment Associates as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. 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 Varian Semiconductor Equipment Associates Ratings Report.

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