5 Best Stocks Under $50

3. Corning Incorporated (NYSE:GLW)

Share Price as of July 21, 2022: $34.63

Number of Hedge Fund Holders: 43

Corning Incorporated (NYSE:GLW) is a lesser known company that plays a crucial role in the technology industry. The firm is responsible for manufacturing and selling optical and display technologies that are used in crucial applications such as semiconductor manufacturing and in a host of devices such as smartphones and notebooks.

Corning Incorporated (NYSE:GLW)’s strongest suit is the fact that it is one of the world’s premium manufacturers of optical fiber cables. These cables will be utilized massively in the rollout of fifth generation (5G) infrastructure, and the optical segment grew its revenues by 28% annually in its latest earnings report. Additionally, a subsidiary of the company caters to the chip industry, and it saw its sales grow by 38.5%.

Insider Monkey’s 912 hedge fund survey for this year’s March quarter saw 43 as having bought the company’s shares.

Corning Incorporated (NYSE:GLW)’s largest investor is Jim Simons’s Renaissance Technologies. It owns 2.4 million shares that are worth $90 million.