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Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. NEW YORK ( TheStreet) -- Veeco Instruments (Nasdaq: VECO) hit a new 52-week high Wednesday as it is currently trading at $42.39, above its previous 52-week high of $41.80 with 94,507 shares traded as of 10:10 a.m. ET. Average volume has been 731,900 shares over the past 30 days. Veeco Instruments has a market cap of $1.55 billion and is part of the technology sector and electronics industry. Shares are up 33.8% year to date as of the close of trading on Tuesday. Veeco Instruments Inc., together with its subsidiaries, designs, manufactures, and markets various equipments to make light emitting diodes (LEDs) and hard-disk drives worldwide. The company has a P/E ratio of 14.8, below the S&P 500 P/E ratio of 17.7.