Newport Stock Soars (NEWP)

NEW YORK ( TheStreet) -- Shares of Newport Corporation (Nasdaq: NEWP) have taken a tremendous swing upward. The stock is trading at $14.47 as of 3:25 p.m. ET, 20.6% above Wednesday's closing price of $12. Volume is at 520,609, 1.9 times the daily average of 278,000.

Newport has a market cap of $440.2 million and is part of the technology sector and electronics industry. Shares are down 31.2% year to date as of the close of trading on Wednesday.

Newport Corporation, together with its subsidiaries, engages in the design, development, manufacture, and marketing of technology products and systems primarily in the United States, Pacific Rim, and Europe. The company has a P/E ratio of 7.2, equal to the average electronics industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Newport as a hold. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and revenue growth. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year. You can view the full Newport Ratings Report.

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