Corning Incorporated (NYSE:GLW – Get Free Report) rose 1.6% on Friday. The stock traded as high as $157.72 and last traded at $156.5510. Approximately 5,369,978 shares changed hands during trading, a decline of 56% from the average session volume of 12,291,328 shares. The stock had previously closed at $154.15.
Wall Street Analyst Weigh In
GLW has been the subject of a number of analyst reports. Mizuho reduced their price objective on shares of Corning from $210.00 to $180.00 and set an “outperform” rating for the company in a report on Tuesday, September 15th. JPMorgan Chase & Co. dropped their target price on Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, July 29th. Bank of America lifted their price objective on shares of Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Citigroup lowered their target price on shares of Corning from $240.00 to $220.00 and set a “buy” rating for the company in a report on Wednesday, July 29th. Finally, Morgan Stanley cut their price target on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $176.50.
View Our Latest Stock Analysis on GLW
Corning Stock Up 1.6%
Corning (NYSE:GLW – Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%.The business had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. During the same quarter last year, the firm posted $0.60 earnings per share. The company’s revenue for the quarter was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, research analysts predict that Corning Incorporated will post 3.28 EPS for the current year.
Insider Buying and Selling at Corning
In other news, EVP Lewis Steverson sold 13,100 shares of Corning stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the completion of the transaction, the executive vice president directly owned 15,052 shares in the company, valued at approximately $2,277,217.08. This trade represents a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.25% of the company’s stock.
Institutional Investors Weigh In On Corning
A number of institutional investors have recently modified their holdings of GLW. State Street Corp boosted its holdings in shares of Corning by 13.4% in the 2nd quarter. State Street Corp now owns 41,108,384 shares of the electronics maker’s stock valued at $10,500,315,000 after buying an additional 4,845,027 shares in the last quarter. Geode Capital Management LLC increased 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 valued at $1,781,250,000 after acquiring an additional 517,067 shares during the period. Bank of America Corp DE increased its holdings in shares of Corning by 29.2% in the second quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker’s stock valued at $4,784,361,000 after purchasing an additional 4,231,507 shares during the period. Capital Research Global Investors raised its stake in shares of Corning by 52.7% in 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 last quarter. Finally, Wellington Management Group LLP boosted its position in Corning by 50.9% in the second quarter. Wellington Management Group LLP now owns 13,174,194 shares of the electronics maker’s stock valued at $3,365,084,000 after buying an additional 4,446,514 shares during the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.
Corning Company Profile
Corning Incorporated (NYSE: GLW) is a global materials science and technology company that develops specialty glass, ceramics and optical fiber products. Founded in 1851 and headquartered in Corning, New York, the company combines expertise in glass science, ceramics science, optical physics and manufacturing to serve communications, consumer electronics, automotive, life sciences and other industrial markets.
Corning’s products include optical fiber, cable and hardware used in telecommunications networks; cover glass and other components for mobile devices, laptops and other electronics; display glass for televisions and computer monitors; emissions-control products for automobiles and trucks; laboratory vessels and equipment; and specialty glass and ceramic products for industrial, semiconductor and aerospace applications.
The company serves customers worldwide through manufacturing, research and commercial operations across North America, Europe and Asia.
Featured Articles
- Five stocks we like better than Corning
- Costco Ends Its Fiscal Year on a High Note, Eyes Big Expansion
- Cracker Barrel Stock Is Rallying Again, But the Turnaround Still Has a Traffic Problem
- Oracle’s Force Majeure Notice Exposes a Bigger Problem for the AI Build-Out
- Oil May Be Stronger Than It Looks—And Diamondback Is on Sale
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.
-logo-1200x675.png){kind=logo}
