Corning (NYSE:GLW) Price Target Cut to $165.00 by Analysts at JPMorgan Chase & Co.

Corning (NYSE:GLW) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $170.00 to $165.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the electronics maker’s stock. JPMorgan Chase & Co.’s target price suggests a potential upside of 22.18% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. UBS Group raised their price target on shares of Corning from $196.00 to $201.00 and gave the stock a “buy” rating in a report on Monday, October 5th. China Renaissance raised shares of Corning from a “hold” rating to a “buy” rating and set a $238.00 price objective on the stock in a research report on Tuesday, September 8th. Weiss Ratings downgraded Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Truist Financial boosted their target price on Corning from $175.00 to $182.00 and gave the company a “buy” rating in a research report on Friday, October 2nd. Finally, Oppenheimer decreased their target price on Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Corning presently has an average rating of “Moderate Buy” and an average price target of $177.25.

Corning Trading Up 2.1%

Shares of GLW stock traded up $2.79 during trading hours on Wednesday, hitting $135.05. 3,565,887 shares of the company were exchanged, compared to its average volume of 11,866,062. The firm has a market cap of $116.33 billion, a P/E ratio of 61.72, a P/E/G ratio of 1.69 and a beta of 1.13. Corning has a fifty-two week low of $77.39 and a fifty-two week high of $271.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. The company has a 50 day simple moving average of $153.14 and a two-hundred day simple moving average of $168.85.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The company had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. During the same quarter in the previous year, the business posted $0.60 EPS. Corning’s revenue for the quarter was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities analysts anticipate that Corning will post 3.29 EPS for the current year.

Insider Buying and Selling

In other Corning news, EVP Lewis Steverson sold 13,100 shares of the company’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the transaction, the executive vice president owned 15,052 shares in the company, valued at approximately $2,277,217.08. This represents a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Guardian Partners Inc. raised its stake in shares of Corning by 32.3% in the third quarter. Guardian Partners Inc. now owns 9,643 shares of the electronics maker’s stock worth $1,483,000 after purchasing an additional 2,353 shares during the last quarter. Robbins Farley lifted its holdings in shares of Corning by 5,478.0% in the third quarter. Robbins Farley now owns 11,156 shares of the electronics maker’s stock valued at $1,715,000 after purchasing an additional 10,956 shares in the last quarter. Capstone Capital Management Ltd lifted its holdings in shares of Corning by 340.5% in the third quarter. Capstone Capital Management Ltd now owns 38,552 shares of the electronics maker’s stock valued at $5,928,000 after purchasing an additional 29,801 shares in the last quarter. Carnegie Investment Counsel boosted its position in shares of Corning by 5.7% during the third quarter. Carnegie Investment Counsel now owns 57,398 shares of the electronics maker’s stock valued at $8,826,000 after buying an additional 3,074 shares during the last quarter. Finally, Integrated Advisors Network LLC boosted its position in shares of Corning by 41.4% during the third quarter. Integrated Advisors Network LLC now owns 27,141 shares of the electronics maker’s stock valued at $4,173,000 after buying an additional 7,950 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

About Corning

Corning Incorporated (NYSE: GLW) is a technology company that develops and manufactures specialty glass, ceramics and optical-fiber products. Its materials and engineering expertise support communications networks, consumer electronics, automotive systems, life sciences and other industrial applications.

The company’s products include optical fiber, cable and connectivity solutions used in telecommunications infrastructure; glass substrates for televisions, computer monitors and other displays; durable cover glass for mobile devices; emissions-control components for vehicles; laboratory glassware and consumables; and specialized glass and ceramic materials for scientific, industrial and semiconductor applications.

Founded in 1851 and headquartered in Corning, New York, the company serves customers through operations and facilities across North America, Europe, Asia and other international markets.