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

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Corning ( GLW) pushed the Electronics industry lower today making it today's featured Electronics laggard. The industry as a whole closed the day down 1.0%. By the end of trading, Corning fell $0.31 (-2.1%) to $14.72 on average volume. Throughout the day, 9,466,806 shares of Corning exchanged hands as compared to its average daily volume of 10,933,600 shares. The stock ranged in price between $14.69-$15.03 after having opened the day at $15.00 as compared to the previous trading day's close of $15.03. Other companies within the Electronics industry that declined today were: TranSwitch Corporation ( TXCC), down 29.1%, On Track Innovations ( OTIV), down 11.8%, China Sunergy ( CSUN), down 9.0% and Hanwha SolarOne ( HSOL), down 8.4%.

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 $21.8 billion and is part of the technology sector. Shares are up 19.1% year to date as of the close of trading on Friday. Currently there are 9 analysts that rate Corning a buy, 1 analyst rates it a sell, and 4 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, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.

On the positive front, Orion Energy Systems ( OESX), up 9.8%, Sevcon ( SEV), up 9.4%, Bel Fuse ( BELFA), up 8.1% and Jinpan International ( JST), up 5.8% , were all gainers within the electronics industry with Marvell Technology Group ( MRVL) 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).

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.
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