NEW YORK ( TheStreet) -- Shares of Cabot Microelectronics Corporation (Nasdaq: CCMP) were gapping up Tuesday morning with an open price 18.3% higher than Monday's closing price. The stock closed at $40.21 Monday and opened today's trading at $47.57. The average volume for Cabot Microelectronics has been 133,600 shares per day over the past 30 days. Cabot Microelectronics has a market cap of $938.6 million and is part of the technology sector and electronics industry. Shares are down 1.3% year to date as of the close of trading on Monday. Cabot Microelectronics Corporation engages in the development, manufacture, and sale of chemical mechanical planarization (CMP) consumables to the semiconductor industry primarily in the United States, Asia, and Europe. The company has a P/E ratio of 18.6, equal to the average electronics industry P/E ratio and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Cabot Microelectronics as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Cabot Microelectronics Ratings Report. Get more investment ideas from our investment research center. Interested in other stocks that are gapping up? Get free SMS text alerts sent to you when the action happens by texting UP to 95370 or select from multiple alert options.