Corning (NYSE:GLW) Price Target Raised to $270.00 at Mizuho

Corning (NYSE:GLW) had its target price upped by equities researchers at Mizuho from $220.00 to $270.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the electronics maker’s stock. Mizuho’s price target would indicate a potential upside of 5.76% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the company. Weiss Ratings restated a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. Barclays upped their target price on Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Morgan Stanley set a $180.00 price target on shares of Corning in a research report on Friday, May 8th. Susquehanna raised their price objective on shares of Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a report on Wednesday, April 29th. Finally, Truist Financial boosted their target price on shares of Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research report on Monday, June 22nd. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Corning has a consensus rating of “Moderate Buy” and an average target price of $186.46.

Corning Price Performance

Shares of GLW stock opened at $255.29 on Wednesday. The firm has a fifty day simple moving average of $188.32 and a 200-day simple moving average of $144.39. The company has a market capitalization of $219.71 billion, a PE ratio of 122.15, a price-to-earnings-growth ratio of 3.66 and a beta of 1.15. Corning has a twelve month low of $51.32 and a twelve month high of $271.78. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the previous year, the firm posted $0.54 EPS. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities research analysts anticipate that Corning will post 3.19 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the transaction, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the sale, the senior vice president owned 10,174 shares in the company, valued at $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 160,655 shares of company stock valued at $30,692,560 over the last quarter. Corporate insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors bought a new stake in Corning in the third quarter valued at $907,164,000. Norges Bank bought a new position in shares of Corning during the fourth quarter worth about $921,435,000. Wellington Management Group LLP increased its holdings in shares of Corning by 30.3% in the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock worth $1,358,211,000 after acquiring an additional 3,848,540 shares during the period. Polar Capital Holdings Plc increased its holdings in shares of Corning by 141.2% in the 3rd quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock worth $329,035,000 after acquiring an additional 2,348,125 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in Corning by 102.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker’s stock valued at $399,505,000 after purchasing an additional 2,304,676 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors.

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.