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 0.5%. By the end of trading, Corning rose 17 cents (1.3%) to $12.81 on light volume. Throughout the day, 9.4 million shares of Corning exchanged hands as compared to its average daily volume of 15.1 million shares. The stock ranged in a price between $12.61-$12.82 after having opened the day at $12.66 as compared to the previous trading day's close of $12.64. Other companies within the Electronics industry that increased today were: Sigma Designs ( SIGM), up 17.6%, Meade Instruments Corporation ( MEAD), up 16.1%, Oclaro ( OCLR), up 9.6%, and Spire Corporation ( SPIR), up 9.2%.
  • EXCLUSIVE OFFER: Jim Cramer's Protégé, Dave Peltier, only buys Stocks Under $10 that he thinks could potentially double. See what he's trading today with a 14-day FREE pass.

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 $18.66 billion and is part of the technology sector. The company has a P/E ratio of 11, below the S&P 500 P/E ratio of 17.7. Shares are up 0.2% year to date as of the close of trading on Wednesday. Currently there are nine analysts that rate Corning a buy, two analysts rate it a sell, and seven rate it a hold.

TheStreet Ratings rates Corning as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

On the negative front, Suntech Power Holdings ( STP), down 19.3%, Superconductor Technologies ( SCON), down 16.3%, Daqo New Energy ( DQ), down 11.1%, and Anadigics ( ANAD), down 10.4%, were all laggards within the electronics industry with Mellanox Technologies ( MLNX) 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).

It's Official: Action Alerts PLUS beats the S&P 500 with Dividends Reinvested! Cramer and Link were up 16.72% in 2012. Were you? See what they are trading for 14-days FREE.

null

More from Markets

Week Ahead: Trade Fears and Stress Tests Signal More Volatility To Come

Week Ahead: Trade Fears and Stress Tests Signal More Volatility To Come

Trump Takes Aim at Auto Imports; Markets End Mixed -- ICYMI

Trump Takes Aim at Auto Imports; Markets End Mixed -- ICYMI

Video: What Oprah's Content Partnership With Apple Means for the Rest of Tech

Video: What Oprah's Content Partnership With Apple Means for the Rest of Tech

REPLAY: Jim Cramer on the Markets, Oil, Starbucks, Tesla, Okta and Red Hat

REPLAY: Jim Cramer on the Markets, Oil, Starbucks, Tesla, Okta and Red Hat

Flashback Friday: The Market Movers

Flashback Friday: The Market Movers