IQ EQ FUND MANAGEMENT IRELAND Ltd lessened its stake in shares of Corning Incorporated (NYSE:GLW – Free Report) by 4.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 110,254 shares of the electronics maker’s stock after selling 5,400 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Corning were worth $9,044,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of GLW. CVA Family Office LLC boosted its stake in Corning by 10.3% during the 3rd quarter. CVA Family Office LLC now owns 1,190 shares of the electronics maker’s stock valued at $98,000 after purchasing an additional 111 shares during the period. Vista Investment Partners LLC boosted its holdings in Corning by 1.3% in the 3rd quarter. Vista Investment Partners LLC now owns 9,496 shares of the electronics maker’s stock valued at $779,000 after purchasing an additional 119 shares during the period. Sapient Capital LLC increased its holdings in shares of Corning by 2.2% during the 3rd quarter. Sapient Capital LLC now owns 5,626 shares of the electronics maker’s stock worth $452,000 after purchasing an additional 120 shares during the period. Sivia Capital Partners LLC lifted its stake in shares of Corning by 1.6% in the third quarter. Sivia Capital Partners LLC now owns 7,740 shares of the electronics maker’s stock valued at $635,000 after buying an additional 124 shares during the period. Finally, Cornerstone Planning Group LLC increased its stake in Corning by 58.5% during the third quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker’s stock valued at $30,000 after acquiring an additional 124 shares during the period. 69.80% of the stock is currently owned by institutional investors and hedge funds.
Corning Stock Performance
Shares of Corning stock opened at $112.70 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.04. The firm has a 50 day simple moving average of $92.19 and a 200 day simple moving average of $81.58. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $117.30. The firm has a market cap of $96.62 billion, a P/E ratio of 61.25, a P/E/G ratio of 1.90 and a beta of 1.13.
Insider Buying and Selling
In related news, insider Eric S. Musser sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $110.00, for a total transaction of $2,750,000.00. Following the completion of the sale, the insider directly owned 19,926 shares of the company’s stock, valued at $2,191,860. The trade was a 55.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Edward A. Schlesinger sold 21,104 shares of the firm’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $104.55, for a total transaction of $2,206,423.20. Following the completion of the transaction, the chief financial officer directly owned 54,780 shares in the company, valued at approximately $5,727,249. The trade was a 27.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 55,945 shares of company stock worth $6,072,986 over the last three months. 0.40% of the stock is currently owned by company insiders.
Key Corning News
Here are the key news stories impacting Corning this week:
- Positive Sentiment: Deal-related growth: Coverage ties Corning’s Meta-related work and its Project Vault efforts directly to accelerating AI data-center buildouts, a high-growth end market for Corning’s optical and fiber products. Corning Ties Meta Deal And Project Vault To AI Data Center Growth
- Positive Sentiment: Analyst optimism: At least one firm raised GLW’s price target ~17% to $113.92, reflecting upgraded expectations after deal announcements and improving fundamentals. Corning (GLW) price target increased by 17.46% to 113.92
- Positive Sentiment: Narrative shift and analyst revisions: Commentary notes a shift in the investment narrative after new deals and analyst upgrades, helping re-rate the stock. How The Narrative Around Corning (GLW) Is Shifting After New Deals And Analyst Revisions
- Positive Sentiment: Macro/sector tailwind: Multiple write-ups position Corning as a “hidden winner” in AI investing and highlight that the stock has more than doubled over the past year thanks to earnings beats and strategic partnerships. How Corning Stock Has Quietly Doubled
- Neutral Sentiment: Positive coverage from research outlets (Zacks, MSN) reiterates long-term growth potential based on style scores and fundamentals; supportive but not new catalyst-specific news. Why Corning (GLW) is a Top Growth Stock for the Long-Term
- Negative Sentiment: Insider selling: SVP Li Fang sold 9,797 shares at ~$113.51 (SEC Form 4), which investors may view as a mild negative signal despite no unusual context provided. Li Fang SEC Form 4
- Negative Sentiment: Another exec sale: Reporting shows Eric Musser sold 25,000 shares; multiple small insider sales can temper sentiment even if they’re routine. Eric Musser Sells 25,000 Shares of Corning (NYSE:GLW) Stock
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on GLW shares. Zacks Research lowered Corning from a “strong-buy” rating to a “hold” rating in a report on Friday, November 21st. Barclays set a $100.00 price objective on Corning in a report on Thursday, January 29th. Citigroup boosted their price target on Corning from $102.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Mizuho boosted their target price on shares of Corning from $97.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, January 29th. Finally, Weiss Ratings lowered shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, January 27th. Nine investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Corning presently has an average rating of “Moderate Buy” and an average price target of $112.36.
Read Our Latest Research Report on GLW
Corning 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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