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

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 up 0.6%. By the end of trading, Corning rose 24 cents (2%) to $11.99 on average volume. Throughout the day, 14.7 million shares of Corning exchanged hands as compared to its average daily volume of 13.6 million shares. The stock ranged in a price between $11.75-$12 after having opened the day at $11.85 as compared to the previous trading day's close of $11.75. Other companies within the Electronics industry that increased today were: Oplink Communications ( OPLK), up 14.4%, Daystar Technologies ( DSTI), up 9.3%, Neonode ( NEON), up 8.5%, and eMagin Corporation ( EMAN), up 8.2%.

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 $17.29 billion and is part of the technology sector. The company has a P/E ratio of 8.1, equal to the average electronics industry P/E ratio and below the S&P 500 P/E ratio of 17.7. Shares are down 11.2% year to date as of the close of trading on Thursday. Currently there are 10 analysts that rate Corning a buy, three analysts rate it a sell, and six 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, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, disappointing return on equity and a generally disappointing performance in the stock itself.

On the negative front, Marvell Technology Group ( MRVL), down 14.2%, ION Geophysical Corporation ( IO), down 11.3%, Aehr Test Systems ( AEHR), down 7%, and Qualstar Corporation ( QBAK), down 6.8%, were all laggards within the electronics industry with First Solar ( FSLR) 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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