Corning (NYSE:GLW) Cut to Hold at Zacks Research

Corning (NYSE:GLW) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. Truist Financial raised their target price on shares of Corning from $125.00 to $149.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Barclays lifted their price objective on shares of Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Mizuho upped their target price on Corning from $190.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Finally, Wolfe Research set a $130.00 price objective on Corning and gave the stock an “outperform” rating in a research report on Tuesday, January 27th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $177.92.

Corning Price Performance

NYSE:GLW opened at $190.97 on Tuesday. The firm has a market cap of $164.35 billion, a PE ratio of 91.37, a price-to-earnings-growth ratio of 2.81 and a beta of 1.14. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. Corning has a 12 month low of $48.88 and a 12 month high of $211.79. The company’s 50-day moving average price is $165.37 and its two-hundred day moving average price is $125.52.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company’s revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities analysts anticipate that Corning will post 3.19 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Jaymin Amin sold 27,395 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the transaction, the senior vice president owned 94,400 shares in the company, valued at $18,138,016. The trade was a 22.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president owned 25,570 shares in the company, valued at approximately $5,273,301.10. The trade was a 43.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 60,655 shares of company stock valued at $12,046,561 in the last ninety days. 0.25% of the stock is owned by corporate insiders.

Institutional Trading of Corning

A number of hedge funds have recently bought and sold shares of the business. Capital Research Global Investors purchased a new position in shares of Corning in the third quarter valued at $907,164,000. Norges Bank bought a new stake in Corning during the fourth quarter valued at approximately $921,435,000. WCM Investment Management LLC purchased a new position in Corning in the third quarter worth $676,931,000. Wellington Management Group LLP increased its position in shares of Corning by 30.3% during the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock valued at $1,358,211,000 after purchasing an additional 3,848,540 shares during the last quarter. Finally, Polar Capital Holdings Plc raised its stake in shares of Corning by 141.2% during the third 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 in 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.