Corning (NYSE:GLW) Shares Down 3.4% – Should You Sell?

Corning Incorporated (NYSE:GLW)’s share price fell 3.4% on Wednesday. The stock traded as low as $153.60 and last traded at $154.3310. 5,514,451 shares changed hands during trading, a decline of 55% from the average session volume of 12,376,492 shares. The stock had previously closed at $159.69.

Wall Street Analyst Weigh In

A number of brokerages have commented on GLW. Oppenheimer cut their price target on shares of Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Bank of America increased their target price on Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a report on Monday, July 6th. The Goldman Sachs Group restated an “outperform” rating on shares of Corning in a research report on Tuesday, September 15th. Barclays decreased their price target on Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. dropped their price objective on Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. Twelve equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $176.50.

Corning Stock Up 1.3%

The company has a market cap of $134.45 billion, a P/E ratio of 71.19, a PEG ratio of 2.04 and a beta of 1.16. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The firm has a fifty day moving average price of $152.71 and a 200 day moving average price of $166.64.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $4.63 billion. During the same period in the previous year, the business posted $0.60 earnings per share. The firm’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. Equities research analysts forecast that Corning Incorporated will post 3.28 earnings per share for the current year.

Insiders Place Their Bets

In other Corning news, EVP Lewis Steverson sold 13,100 shares of the company’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the transaction, the executive vice president owned 15,052 shares of the company’s stock, valued at approximately $2,277,217.08. This represents a 46.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On Corning

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Alliance Wealth Advisors LLC boosted its holdings in Corning by 1.4% in the 2nd quarter. Alliance Wealth Advisors LLC now owns 4,045 shares of the electronics maker’s stock worth $1,033,000 after acquiring an additional 56 shares during the period. Ares Financial Consulting LLC raised its stake in shares of Corning by 15.6% during the second quarter. Ares Financial Consulting LLC now owns 444 shares of the electronics maker’s stock valued at $113,000 after purchasing an additional 60 shares during the period. Signature Equity Partners LLC lifted its position in shares of Corning by 19.3% during the first quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker’s stock worth $52,000 after purchasing an additional 62 shares in the last quarter. Beirne Wealth Consulting Services LLC lifted its position in shares of Corning by 0.8% during the first quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker’s stock worth $1,094,000 after purchasing an additional 64 shares in the last quarter. Finally, Balefire LLC boosted its stake in shares of Corning by 0.7% in the first quarter. Balefire LLC now owns 9,595 shares of the electronics maker’s stock valued at $1,305,000 after purchasing an additional 65 shares during the period. Institutional investors own 69.80% of the company’s stock.

About Corning

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.