Corning Inc (GLW): Today's Featured Electronics Winner - TheStreet

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

.

Corning

(

GLW

) pushed the Electronics industry higher today making it today's featured electronics winner. The industry as a whole closed the day down 0.2%. By the end of trading, Corning rose 14 cents (1.1%) to $12.87 on heavy volume. Throughout the day, 26.6 million shares of Corning exchanged hands as compared to its average daily volume of 11.9 million shares. The stock ranged in a price between $12.87-$13.25 after having opened the day at $13.16 as compared to the previous trading day's close of $12.73. Other companies within the Electronics industry that increased today were:

Trio-Tech International

(

TRT

), up 17%,

Nexxus Lighting

(

NEXS

), up 15.2%,

A123 Systems

(

AONE

), up 13.9%, and

Suntech Power Holdings

(

STP

), up 7.9%.

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Corning Incorporated produces specialty glasses, ceramics, and related materials worldwide. The company operates in five segments: Display Technologies, Telecommunications, Environmental Technologies, Specialty Materials, and Life Sciences. Corning has a market cap of $19.18 billion and is part of the

technology

sector. The company has a P/E ratio of nine, equal to the average electronics industry P/E ratio and below the S&P 500 P/E ratio of 17.7. Shares are down 1.9% year to date as of the close of trading on Tuesday. Currently there are 12 analysts that rate Corning a buy, three analysts rate it a sell, and five rate it a hold.

TheStreet Ratings rates Corning as a

hold

. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity.

On the negative front,

Spire Corporation

(

SPIR

), down 12.6%,

Advanced Photonix

(

API

), down 9%,

Nanometrics Incorporated

(

NANO

), down 6.8%, and

Pulse Electronics

(

PULS

), down 6.6%, were all laggards within the electronics industry with

Applied Materials

(

AMAT

) being today's electronics industry laggard.

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

).

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