Corning Inc (GLW): Today's Featured Technology 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 Technology sector lower today making it today's featured Technology laggard. The sector as a whole closed the day up 1.1%. By the end of trading, Corning fell $1.13 (-6.2%) to $17.09 on heavy volume. Throughout the day, 40,594,655 shares of Corning exchanged hands as compared to its average daily volume of 10,732,300 shares. The stock ranged in price between $16.55-$17.64 after having opened the day at $17.01 as compared to the previous trading day's close of $18.22. Other companies within the Technology sector that declined today were: LiveDeal ( LIVE), down 31.6%, Alvarion ( ALVR), down 20.0%, VimpelCom ( VIP), down 12.8% and Seagate Technology ( STX), down 11.2%.

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 $26.4 billion and is part of the electronics industry. The company has a P/E ratio of 15.1, below the S&P 500 P/E ratio of 17.7. Shares are up 2.2% year to date as of the close of trading on Monday. Currently there are 7 analysts that rate Corning a buy, 1 analyst rates it a sell, and 5 rate it a hold.

TheStreet Ratings rates Corning as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, largely solid financial position with reasonable debt levels by most measures 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, Lantronix ( LTRX), up 23.6%, SemiLEDs ( LEDS), up 22.2%, Echelon Corporation ( ELON), up 19.1% and ORBCOMM ( ORBC), up 18.8% , were all gainers within the technology sector with Google ( GOOG) being today's featured technology sector leader.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the technology sector could consider Technology Select Sector SPDR ( XLK) while those bearish on the technology sector could consider ProShares Ultra Short Technology ( REW).

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

If you liked this article you might like

These Stocks Are Getting Roughed Up in Tuesday's Market Selloff

These Stocks Are Getting Roughed Up in Tuesday's Market Selloff

Dow Braces for Second Triple-Digit Decline as Global Stocks Retreat

Dow Braces for Second Triple-Digit Decline as Global Stocks Retreat

Stocks Need to Move Lower to Be Able to Move Higher Again: Market Recon

Stocks Need to Move Lower to Be Able to Move Higher Again: Market Recon

What a Nationalized 5G Plan Would Mean for Google, Comcast, Verizon and Others

What a Nationalized 5G Plan Would Mean for Google, Comcast, Verizon and Others