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 up 0.6%. By the end of trading, Corning fell $0.22 (-1.7%) to $12.84 on average volume. Throughout the day, 14,743,482 shares of Corning exchanged hands as compared to its average daily volume of 14,442,900 shares. The stock ranged in price between $12.84-$13.10 after having opened the day at $13.07 as compared to the previous trading day's close of $13.06. Other companies within the Electronics industry that declined today were: Digital Power Corporation ( DPW), down 16.9%, Rambus ( RMBS), down 10.2%, Trio-Tech International ( TRT), down 9.4% and Vimicro International Corporation ( VIMC), down 9.3%.
  • EXCLUSIVE OFFER: Jim Cramer's Protege, 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 $19.1 billion and is part of the technology sector. The company has a P/E ratio of 11.3, below the S&P 500 P/E ratio of 17.7. Shares are up 3.5% year to date as of the close of trading on Thursday.

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 positive front, Renewable Energy Trade Board ( EBOD), down 28.7%, MoSys ( MOSY), down 9.8%, Affymetrix ( AFFX), down 8.5% and Revolution Lighting Technologies ( RVLT), down 8.4% , were all gainers within the electronics industry with Taiwan Semiconductor Manufacturing ( TSM) 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).

Exclusive Offer: Jim Cramer's 'go-to' small/mid-cap guru Bryan Ashenberg only buys stocks he thinks could return 50-100%. See his top picks for 14-days FREE.

null

More from Markets

Video: There Are Some Big Changes Coming to the PGA Championships in 2019

Video: There Are Some Big Changes Coming to the PGA Championships in 2019

Video: One-on-One With Pluralsight's CEO Following Its Successful IPO

Video: One-on-One With Pluralsight's CEO Following Its Successful IPO

CBS-Viacom Battle Comes to a Head; FDA Approves Novartis Migraine Drug --ICMYI

CBS-Viacom Battle Comes to a Head; FDA Approves Novartis Migraine Drug --ICMYI

Listen: Here's What You Need To Know About ETFs Today (Hint: They're on Fire!)

Listen: Here's What You Need To Know About ETFs Today (Hint: They're on Fire!)

Cramer and His Team Stick to Their Disciplines -- Even When It's Disappointing

Cramer and His Team Stick to Their Disciplines -- Even When It's Disappointing