Corning Inc (GLW): Today's Featured Electronics Laggard

Corning was a leading decliner within the electronics industry, falling $0.20 (-1.3%) to $15.19 on heavy volume
By TheStreet Wire ,

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Corning

(

GLW

) pushed the Electronics industry lower today making it today's featured Electronics laggard. The industry as a whole closed the day up 0.6%. By the end of trading, Corning fell $0.20 (-1.3%) to $15.19 on heavy volume. Throughout the day, 27,779,994 shares of Corning exchanged hands as compared to its average daily volume of 11,350,500 shares. The stock ranged in price between $14.70-$15.44 after having opened the day at $15.22 as compared to the previous trading day's close of $15.39. Other companies within the Electronics industry that declined today were:

Nam Tai Electronics

(

NTE

), down 10.4%,

Ambarella

(

AMBA

), down 7.9%,

TranSwitch Corporation

(

TXCC

), down 7.2% and

PMC-Sierra

(

PMCS

), down 6.0%.

Corning Incorporated produces and sells specialty glasses, ceramics, and related materials worldwide. It operates through five segments: Display Technologies, Telecommunications, Environmental Technologies, Specialty Materials, and Life Sciences. Corning has a market cap of $22.5 billion and is part of the technology sector. Shares are up 20.8% year to date as of the close of trading on Monday. Currently there are 10 analysts that rate Corning a buy, 1 analyst rates it a sell, and 5 rate it a hold.

TheStreet Ratings rates

Corning

as a

buy

. The company's strengths can be seen in multiple areas, such as its solid stock price performance, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels, expanding profit margins and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.

On the positive front,

Plug Power

(

PLUG

), up 16.8%,

Silicon Motion Technology Corporation

(

SIMO

), up 13.4%,

Peregrine Semiconductor

(

PSMI

), up 12.9% and

Dynasil Corporation of America

(

DYSL

), up 10.3% , were all gainers within the electronics industry with

Applied Materials

(

AMAT

) being today's featured electronics industry leader.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the electronics industry could consider

iShares Dow Jones US Technology

(

IYW

) while those bearish on the electronics industry could consider

ProShares Ultra Short Semiconductor

(

SSG

).

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

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