The price of the GLW share rose by 54% year-on-year
Corning Incorporated (NYSE: GLW) is an American multinational technology company specializing in specialty glass, ceramics and related materials. GLW’s technology also includes advanced optics, mainly for industrial and scientific applications. Corning’s markets today include optical communications, mobile consumer electronics, display, automotive, and life sciences. The stock last traded 3.8% to $ 41.49 this afternoon.
On June 3, Corning announced the launch of its latest technology, Corning SMF-28 Contour Fiber, designed to help telecom operators cope with the growing number of connected devices, build 5G networks, and drive advances in cloud computing. The new product from GLW will enable customers to seamlessly upgrade the company’s optical infrastructures and thus enable the cost-effective use of future-proof networks.
Corning stock is up about 54% year over year and is up 65% since hitting a four-year low of $ 25.10. Additionally, Corning stock is up 16% year-to-date and equity is down 11% from its all-time high of $ 46.82. The ascending 100-day moving average supported the long-term rise in the share price. Corning stock also has a forward dividend of $ 0.96 and a dividend yield of 2.22%.
In principle, the security has great potential as a long-term investment due to the further accelerated growth and the current valuation. Although Corning stock is currently trading at a price-to-earnings ratio of 30.61, its price-to-earnings ratio is estimated at 20.75, which is astounding for a technology company with a market capitalization of more than $ 36 billion . In addition, Corning exceeded expectations in all four of its most recent earnings reports
The real inconsistencies for potential equity investments can be seen on the bottom line, with the company suffering slight setbacks in fiscal 2019 and fiscal 2020. However, GLW’s overall growth has been positive. Corning has increased sales more than 13% since fiscal 2017.
Regardless, there seems to be plenty of room for bulls, with a preference for puts dominating the option pits. In particular, the security’s 10-day put / call volume ratio of 1.12 on the International Securities Exchange (ISE), the Cboe Options Exchange (CBOE) and the NASDAQ OMX PHLX (PHLX) is in the 93rd percentile of its annual range.