JPMorgan Chase & Co. Cuts Corning (NYSE:GLW) Price Target to $170.00

Corning (NYSE:GLW) had its price objective cut by JPMorgan Chase & Co. from $200.00 to $170.00 in a report released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the electronics maker’s stock.

A number of other analysts have also recently commented on GLW. Oppenheimer lifted their target price on Corning from $210.00 to $230.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Bank of America upped their target price on Corning from $223.00 to $243.00 and gave the company a “buy” rating in a research report on Monday, July 6th. Barclays raised their price target on Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Susquehanna lifted their price target on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research report on Wednesday, April 29th. Finally, Wall Street Zen upgraded Corning from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Nine analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Corning presently has an average rating of “Moderate Buy” and an average price target of $176.38.

Corning Trading Up 2.5%

Shares of Corning stock opened at $138.54 on Wednesday. The company has a current ratio of 1.81, a quick ratio of 1.06 and a debt-to-equity ratio of 0.59. The company has a fifty day simple moving average of $182.92 and a 200-day simple moving average of $156.75. The stock has a market cap of $119.34 billion, a price-to-earnings ratio of 63.26, a PEG ratio of 1.74 and a beta of 1.09. Corning has a 12-month low of $61.44 and a 12-month high of $271.78.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, topping 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 firm had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. During the same period last year, the business earned $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. On average, equities analysts forecast that Corning will post 3.25 EPS for the current fiscal year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Corning’s dividend payout ratio is 51.14%.

Insider Activity

In other Corning news, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the completion of the sale, the senior vice president directly owned 94,400 shares of the company’s stock, valued at approximately $18,138,016. This trade represents a 22.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the completion of the transaction, the vice president owned 5,138 shares in the company, valued at $1,019,070.92. This trade represents a 66.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 160,655 shares of company stock valued at $30,692,560. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Corning

Several hedge funds have recently modified their holdings of GLW. Merit Financial Group LLC raised its holdings in shares of Corning by 16.9% in the fourth quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker’s stock worth $3,940,000 after acquiring an additional 6,493 shares during the last quarter. Security National Bank lifted its position in shares of Corning by 340.4% in the fourth quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock valued at $6,350,000 after acquiring an additional 56,056 shares in the last quarter. Wealthfront Advisers LLC boosted its stake in shares of Corning by 36.2% during the first quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker’s stock valued at $12,567,000 after acquiring an additional 24,589 shares during the last quarter. Principal Financial Group Inc. increased its position in Corning by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker’s stock worth $121,483,000 after purchasing an additional 10,591 shares in the last quarter. Finally, Three Seasons Wealth LLC purchased a new stake in Corning during the 4th quarter worth about $1,750,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Corning News Roundup

Here are the key news stories impacting Corning this week:

• Positive Sentiment: AI-driven optical growth is supporting the rebound. Second-quarter core sales rose 17% year over year to $4.74 billion, while core EPS increased 30% to $0.78. Optical Communications sales jumped 32% to $2.07 billion, helped by enterprise-network demand tied to artificial-intelligence infrastructure. Multiyear partnerships with Amazon and NVIDIA, along with Corning’s $10 billion photonics ambition, are reinforcing the long-term growth narrative. Why Corning Incorporated Stock Is Up Today
• Positive Sentiment: Management’s near-term outlook remains healthy. Corning guided for third-quarter core sales of $4.9 billion to $5.0 billion and core EPS of $0.85 to $0.89. Stronger cash flow, rising earnings estimates and expectations for accelerating growth under the extended Springboard plan are supporting investor confidence. Corning Rides AI Data Center Growth as Optical Demand Accelerates
• Neutral Sentiment: Solar and photonics expansion remain execution-dependent. Investors are watching whether Corning can convert rapidly rising solar sales into sustainable profitability while also funding U.S. expansion and meeting its ambitious photonics targets. Corning Growth Outlook Hinges on AI Optics and Solar Profitability
• Negative Sentiment: Valuation and market skepticism remain risks. After its AI-led rally, GLW trades at a premium valuation, leaving less room for execution mistakes. Analysts at JPMorgan and Citigroup issued cautious views, while the earlier selloff reflected concerns that third-quarter guidance implied slower growth against difficult comparisons. Is GLW Stock Attractive After Its AI Rally and Earnings Momentum?
• Negative Sentiment: Insider selling is a sentiment headwind. Company insiders reportedly made 14 open-market sales and no purchases during the past six months, including sales by CEO Wendell Weeks and other senior executives.

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.