Corning (NYSE:GLW) Hits New 52-Week High – Here’s What Happened

Shares of Corning Incorporated (NYSE:GLW) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $117.21 and last traded at $113.7180, with a volume of 236004 shares trading hands. The stock had previously closed at $110.36.

Analysts Set New Price Targets

Several brokerages recently weighed in on GLW. Barclays set a $100.00 target price on Corning in a research note on Thursday. Argus increased their price objective on Corning from $68.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st. Susquehanna increased their price target on shares of Corning from $100.00 to $125.00 and gave the company a “positive” rating in a report on Thursday, January 29th. Finally, UBS Group restated a “buy” rating and issued a $125.00 price target on shares of Corning in a research report on Friday. Nine research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Corning presently has a consensus rating of “Moderate Buy” and an average target price of $112.36.

Corning Stock Up 2.4%

The firm has a market cap of $96.93 billion, a price-to-earnings ratio of 61.11, a PEG ratio of 1.79 and a beta of 1.13. The business’s 50-day moving average is $90.49 and its 200-day moving average is $80.75. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.04 and a current ratio of 1.59.

Corning (NYSE:GLW) last released its quarterly earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. Corning had a return on equity of 18.72% and a net margin of 10.21%.The firm had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.35 billion. During the same period last year, the firm posted $0.57 EPS. The business’s revenue was up 13.9% on a year-over-year basis. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. On average, equities analysts predict that Corning Incorporated will post 2.33 EPS for the current year.

Insider Transactions at Corning

In other Corning news, insider Eric S. Musser sold 25,000 shares of Corning stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $110.00, for a total transaction of $2,750,000.00. Following the completion of the sale, the insider owned 19,926 shares of the company’s stock, valued at approximately $2,191,860. The trade was a 55.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Edward A. Schlesinger sold 21,104 shares of the stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $104.55, for a total value of $2,206,423.20. Following the completion of the transaction, the chief financial officer directly owned 54,780 shares in the company, valued at approximately $5,727,249. This trade represents a 27.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 46,148 shares of company stock worth $4,960,928. Corporate insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Corning

Several hedge funds have recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its position in shares of Corning by 46.0% in the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after acquiring an additional 2,114 shares during the period. Retirement Planning Co of New England Inc. acquired a new stake in Corning in the first quarter worth $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Corning by 9.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock worth $2,962,000 after purchasing an additional 5,522 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Corning in the 2nd quarter valued at $401,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Corning by 9.9% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 88,391 shares of the electronics maker’s stock valued at $4,648,000 after buying an additional 7,953 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

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.