Corning (NYSE:GLW – Get Free Report) had its target price raised by Mizuho from $190.00 to $220.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the electronics maker’s stock. Mizuho’s target price indicates a potential upside of 6.29% from the stock’s current price.
Other equities analysts have also recently issued reports about the stock. Citigroup upped their price target on shares of Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Zacks Research upgraded shares of Corning from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Barclays raised their price target on Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday. HSBC reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Corning in a research report on Friday, February 13th. Finally, Fox Advisors lowered shares of Corning from an “overweight” rating to an “equal weight” rating in a research report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $177.92.
Read Our Latest Report on Corning
Corning Stock Performance
Corning (NYSE:GLW – Get Free Report) last released its earnings results 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. Corning had a return on equity of 19.45% and a net margin of 11.09%.The company had revenue of $4.35 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter in the previous year, the firm posted $0.54 EPS. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Research analysts forecast that Corning will post 3.19 EPS for the current fiscal year.
Insider Transactions at Corning
In other news, COO Avery H. Nelson III sold 1,583 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $128.74, for a total transaction of $203,795.42. Following the completion of the sale, the chief operating officer directly owned 59,788 shares of the company’s stock, valued at $7,697,107.12. This represents a 2.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP John Z. Zhang sold 1,531 shares of the stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $133.75, for a total value of $204,771.25. The SEC filing for this sale provides additional information. Insiders sold a total of 140,628 shares of company stock valued at $21,774,117 in the last three months. 0.25% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the company. Brighton Jones LLC grew its position in Corning by 46.0% in the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after acquiring an additional 2,114 shares in the last quarter. Retirement Planning Co of New England Inc. bought a new position in Corning during the first quarter valued at about $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Corning by 9.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock worth $2,962,000 after acquiring an additional 5,522 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Corning during the 2nd quarter valued at about $401,000. Finally, Schnieders Capital Management LLC. bought a new position in shares of Corning in the 2nd quarter valued at approximately $266,000. 69.80% of the stock is owned by institutional investors and hedge funds.
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.
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