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

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 lower today making it today's featured Electronics laggard. The industry as a whole closed the day down 1.7%. By the end of trading, Corning fell 25 cents (-1.9%) to $13.04 on average volume. Throughout the day, 14 million shares of Corning exchanged hands as compared to its average daily volume of 13 million shares. The stock ranged in price between $12.98-$13.32 after having opened the day at $13.20 as compared to the previous trading day's close of $13.29. Other companies within the Electronics industry that declined today were: Enova Systems ( ENA), down 19.8%, Enphase Energy ( ENPH), down 8.5%, Ascent Solar Technologies ( ASTI), down 8.4%, and Netlist ( NLST), down 6.7%.
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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 $19.8 billion and is part of the technology sector. The company has a P/E ratio of 9.3, equal to the average electronics industry P/E ratio and below the S&P 500 P/E ratio of 17.7. Shares are up 2.5% year to date as of the close of trading on Monday. Currently there are 12 analysts that rate Corning a buy, three analysts rate it a sell, and four 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 positive front, Trio-Tech International ( TRT), up 21%, SL Industries ( SLI), up 9%, Giga-tronics ( GIGA), up 7.9%, and Winland Electronics ( WEX), up 5.5%, were all gainers within the electronics industry with First Solar ( FSLR) 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).

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