Corning (NYSE:GLW) Trading 4.3% Higher on Analyst Upgrade

Shares of Corning Incorporated (NYSE:GLW) traded up 4.3% on Wednesday after Mizuho raised their price target on the stock from $190.00 to $220.00. Mizuho currently has an outperform rating on the stock. Corning traded as high as $211.79 and last traded at $206.7060. 15,260,820 shares traded hands during trading, an increase of 28% from the average session volume of 11,922,107 shares. The stock had previously closed at $198.24.

Other research analysts also recently issued reports about the company. Bank of America upped their price target on Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Wall Street Zen downgraded Corning from a “buy” rating to a “hold” rating in a research note on Saturday. Truist Financial upped their price target on Corning from $125.00 to $149.00 and gave the stock a “hold” rating in a research note on Wednesday, April 29th. HSBC reaffirmed a “buy” rating and set a $135.00 price target on shares of Corning in a research note on Friday, February 13th. Finally, UBS Group upped their price target on Corning from $179.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Corning presently has an average rating of “Moderate Buy” and a consensus target price of $177.92.

Insider Buying and Selling

In other news, CEO Wendell P. Weeks sold 137,514 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $155.37, for a total value of $21,365,550.18. Following the completion of the sale, the chief executive officer directly owned 750,585 shares of the company’s stock, valued at $116,618,391.45. This represents a 15.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP John Z. Zhang sold 10,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $198.34, for a total value of $1,983,400.00. Following the completion of the sale, the vice president directly owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. This trade represents a 66.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 172,305 shares of company stock valued at $28,353,207. 0.25% of the stock is owned by company insiders.

Key Corning News

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Analysts and market commentary continue to frame Corning as a key AI data-center beneficiary, with optical-component demand and manufacturing expansion seen as important growth drivers. 3 Optical Component Giants in Focus on Massive AI Data Center Growth
• Positive Sentiment: Mizuho boosted its price target on Corning and reiterated an outperform rating, which likely reinforced bullish investor expectations.
• Positive Sentiment: Additional coverage described Corning’s AI growth story as still developing, helped by its relationship with Nvidia and improved investor attention. Corning surges to record high: is the AI boom just beginning?
• Neutral Sentiment: One article asked how investors should play Corning after a huge year-to-date gain, but it also noted risks from competition and cyclical end markets. Corning Surges 137.4% Year to Date: How to Play the Stock
• Negative Sentiment: Three Corning executives recently sold shares, which can create some caution even though the broader business outlook remains favorable.

Institutional Trading of Corning

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Corning by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker’s stock valued at $8,693,247,000 after acquiring an additional 580,678 shares during the last quarter. State Street Corp grew its holdings in Corning by 1.2% during the third quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock valued at $3,035,836,000 after purchasing an additional 439,883 shares during the period. Geode Capital Management LLC grew its holdings in Corning by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker’s stock valued at $1,781,250,000 after purchasing an additional 517,067 shares during the period. Capital Research Global Investors grew its holdings in Corning by 52.7% during the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock valued at $1,478,959,000 after purchasing an additional 5,831,873 shares during the period. Finally, Wellington Management Group LLP grew its holdings in Corning by 30.3% during the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock valued at $1,358,211,000 after purchasing an additional 3,848,540 shares during the period. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning Trading Up 4.3%

The firm has a fifty day simple moving average of $153.08 and a two-hundred day simple moving average of $117.47. The firm has a market capitalization of $177.90 billion, a P/E ratio of 98.90, a price-to-earnings-growth ratio of 2.97 and a beta of 1.14. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period in the prior year, the company earned $0.54 earnings per share. Corning’s revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities research analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Friday, May 29th. Corning’s dividend payout ratio is 53.59%.

Corning Company Profile

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.