Corning Incorporated (NYSE:GLW – Get Free Report) shares were up 11.3% during mid-day trading on Thursday . The stock traded as high as $196.02 and last traded at $195.2790. 22,163,901 shares traded hands during trading, an increase of 82% from the average session volume of 12,159,388 shares. The stock had previously closed at $175.40.
Analysts Set New Price Targets
A number of analysts have recently commented on GLW shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. Barclays raised their price target on shares of Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Wall Street Zen cut Corning from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Citigroup boosted their price objective on Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Mizuho increased their target price on Corning from $190.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $178.31.
View Our Latest Analysis on GLW
Corning Price Performance
Corning (NYSE:GLW – Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. The firm had revenue of $4.34 billion for 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 for the quarter was up 18.1% on a year-over-year basis. During the same period last year, the firm posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities analysts expect that Corning Incorporated will post 3.19 EPS for the current fiscal year.
Corning Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning’s dividend payout ratio (DPR) is 53.59%.
Insider Buying and Selling at Corning
In other news, VP John Z. Zhang sold 10,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the vice president directly owned 5,138 shares in the company, valued at $1,019,070.92. This represents a 66.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Soumya Seetharam sold 20,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were 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 of the company’s stock, valued at approximately $5,273,301.10. This represents a 43.89% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Corning by 0.6% in 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 buying an additional 580,678 shares during the period. State Street Corp lifted its stake in Corning by 1.2% during the 3rd quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock worth $3,035,836,000 after acquiring an additional 439,883 shares in the last quarter. Geode Capital Management LLC lifted its stake in Corning by 2.6% during 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 acquiring an additional 517,067 shares in the last quarter. Capital Research Global Investors boosted its holdings in Corning by 52.7% during the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock valued at $1,478,959,000 after acquiring an additional 5,831,873 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in 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 acquiring an additional 3,848,540 shares during the period. Hedge funds and other institutional investors own 69.80% of the company’s stock.
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.
Read More
- Five stocks we like better than Corning
- Aehr Spikes on New Order, But Has Stock Gotten Ahead of Itself?
- Rackspace’s AI Land Grab: Plugging Into the Next Compute Boom
- Satellogic Is Tiny But Its Revenue Growth Is Hard to Ignore
- Why Kroger’s Pullback Could Be a Gift for Patient Investors
Receive News & Ratings for Corning Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corning and related companies with MarketBeat.com's FREE daily email newsletter.
