Corning (NYSE:GLW) Trading Up 13.5% – What’s Next?

Corning Incorporated (NYSE:GLW) was up 13.5% on Tuesday . The stock traded as high as $178.84 and last traded at $200.2790. Approximately 10,869,678 shares were traded during trading, a decline of 27% from the average daily volume of 14,848,574 shares. The stock had previously closed at $176.4460.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GLW. Morgan Stanley set a $180.00 target price on Corning in a report on Friday, May 8th. Mizuho raised their price target on Corning from $190.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Wall Street Zen upgraded Corning from a “hold” rating to a “buy” rating in a research report on Sunday, May 17th. UBS Group boosted their price objective on Corning from $179.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Citigroup raised their target price on Corning from $175.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Corning has an average rating of “Moderate Buy” and a consensus price target of $177.92.

Corning Trading Up 0.5%

The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The firm has a market cap of $173.33 billion, a price-to-earnings ratio of 96.36, a price-to-earnings-growth ratio of 2.87 and a beta of 1.15. The business’s fifty day moving average is $171.25 and its two-hundred day moving average is $129.11.

Corning (NYSE:GLW) last posted its quarterly earnings data 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. The firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be issued a $0.28 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.12 annualized dividend and a yield of 0.6%. Corning’s dividend payout ratio (DPR) is currently 53.59%.

Insider Transactions at Corning

In related news, SVP Soumya Seetharam sold 20,000 shares of Corning stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $206.23, for a total value of $4,124,600.00. Following the completion of the sale, the senior vice president directly owned 25,570 shares in the company, valued at $5,273,301.10. This trade represents a 43.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John Z. Zhang sold 10,000 shares of the business’s stock in a transaction dated 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 sale, the vice president directly owned 5,138 shares of the company’s stock, valued at $1,019,070.92. This represents a 66.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 60,655 shares of company stock valued at $12,046,561 in the last three months. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Corning

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Corning by 0.6% during the 4th 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 boosted its position in shares of Corning by 1.2% in the 3rd quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock worth $3,035,836,000 after purchasing an additional 439,883 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Corning by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker’s stock worth $1,781,250,000 after purchasing an additional 517,067 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Corning by 52.7% during the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock worth $1,478,959,000 after purchasing an additional 5,831,873 shares during the period. Finally, Wellington Management Group LLP grew its stake in shares of Corning by 30.3% during the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock worth $1,358,211,000 after purchasing an additional 3,848,540 shares during the period. 69.80% of the stock is currently owned by institutional investors and hedge funds.

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.