Corning (NYSE:GLW) Trading 4.6% Higher – Should You Buy?

Corning Incorporated (NYSE:GLW) shares were up 4.6% during mid-day trading on Thursday . The company traded as high as $204.48 and last traded at $192.53. Approximately 9,875,490 shares were traded during mid-day trading, a decline of 24% from the average session volume of 12,957,128 shares. The stock had previously closed at $184.03.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Truist Financial boosted their price target on shares of Corning from $149.00 to $205.00 and gave the company a “hold” rating in a research note on Monday, June 22nd. JPMorgan Chase & Co. raised their price objective on shares of Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Finally, Susquehanna upped their target price on shares of Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a report on Wednesday, April 29th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $193.54.

Corning Stock Up 4.6%

The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $165.70 billion, a PE ratio of 92.12, a P/E/G ratio of 2.43 and a beta of 1.09. The stock’s fifty day simple moving average is $191.61 and its 200-day simple moving average is $148.94.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating 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 company had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the prior year, the company posted $0.54 earnings per share. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, sell-side analysts forecast that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.6%. Corning’s dividend payout ratio (DPR) is 53.59%.

Insider Activity

In other news, CEO Wendell P. Weeks sold 100,000 shares of the business’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 value of $18,646,000.00. Following the transaction, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. The trade was a 9.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the sale, the senior vice president directly owned 10,174 shares of the company’s stock, valued at $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 160,655 shares of company stock worth $30,692,560. Corporate insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Corning

Large investors have recently made changes to their positions in the business. Sapient Capital LLC grew its position in Corning by 7.4% during the second quarter. Sapient Capital LLC now owns 5,121 shares of the electronics maker’s stock valued at $1,308,000 after buying an additional 353 shares during the period. Shira Ridge Wealth Management bought a new stake in Corning in the second quarter worth about $212,000. Focus Financial Network Inc. raised its position in Corning by 1.3% in the second quarter. Focus Financial Network Inc. now owns 10,504 shares of the electronics maker’s stock worth $2,683,000 after acquiring an additional 137 shares during the period. Vertrix Wealth Management LLC purchased a new position in Corning in the second quarter valued at about $516,000. Finally, Alliance Wealth Advisors LLC grew its position in shares of Corning by 1.4% during the 2nd quarter. Alliance Wealth Advisors LLC now owns 4,045 shares of the electronics maker’s stock valued at $1,033,000 after acquiring an additional 56 shares during the period. 69.80% of the stock is owned by hedge funds and other institutional investors.

About Corning

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.