Corning (NYSE:GLW) Shares Climb 4.9% – Here’s What Happened

Corning Incorporated (NYSE:GLW) was up 4.9% during mid-day trading on Tuesday. The stock traded as high as $161.39 and last traded at $159.0910. Approximately 7,489,014 shares traded hands during trading, a decline of 39% from the average daily volume of 12,249,490 shares. The stock had previously closed at $151.59.

Analysts Set New Price Targets

Several research analysts recently commented on GLW shares. China Renaissance upgraded shares of Corning from a “hold” rating to a “buy” rating and set a $238.00 target price on the stock in a report on Tuesday, September 8th. Wall Street Zen downgraded Corning from a “buy” rating to a “hold” rating in a research report on Monday, August 24th. UBS Group reiterated a “buy” rating and issued a $196.00 price objective on shares of Corning in a research note on Wednesday, July 29th. Weiss Ratings cut Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. Finally, Mizuho decreased their target price on Corning from $210.00 to $180.00 and set an “outperform” rating for the company in a research note on Tuesday, September 15th. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Corning has a consensus rating of “Moderate Buy” and a consensus price target of $174.07.

Corning Price Performance

The company has a market cap of $131.51 billion, a P/E ratio of 70.11, a P/E/G ratio of 2.02 and a beta of 1.16. The stock has a 50-day simple moving average of $152.66 and a 200 day simple moving average of $167.31. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81.

Corning (NYSE:GLW) last released its quarterly earnings data 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. The business had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.Corning’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, equities analysts expect that Corning Incorporated will post 3.28 EPS for the current year.

Insider Activity at Corning

In other news, EVP Lewis Steverson sold 13,100 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,277,217.08. This trade represents a 46.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GLW. Alliance Wealth Advisors LLC grew its stake in shares of Corning by 1.4% in the 2nd quarter. Alliance Wealth Advisors LLC now owns 4,045 shares of the electronics maker’s stock valued at $1,033,000 after purchasing an additional 56 shares during the period. Ares Financial Consulting LLC lifted its position in shares of Corning by 15.6% during the 2nd quarter. Ares Financial Consulting LLC now owns 444 shares of the electronics maker’s stock worth $113,000 after buying an additional 60 shares during the period. Signature Equity Partners LLC boosted its stake in Corning by 19.3% in the 1st quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker’s stock valued at $52,000 after buying an additional 62 shares in the last quarter. Beirne Wealth Consulting Services LLC grew its position in Corning by 0.8% in the first quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker’s stock valued at $1,094,000 after acquiring an additional 64 shares during the period. Finally, Balefire LLC grew its position in 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 acquiring an additional 65 shares during the period. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Company Profile

Corning Incorporated (NYSE: GLW) is a global materials science and technology company headquartered in Corning, New York. Founded in 1851, the company develops specialized glass, ceramics and optical technologies for customers in the communications, consumer electronics, automotive, life sciences and industrial markets.

Its Optical Communications segment supplies fiber, cable, hardware and related solutions used in telecommunications and data center networks. Corning also produces glass substrates for flat-panel displays, including televisions, monitors and other electronic devices, as well as specialty cover glass such as Gorilla Glass for mobile devices and other consumer electronics.

Additional products include automotive emissions-control substrates and filters, pharmaceutical and laboratory glassware, and advanced glass and ceramic materials used in semiconductor, aerospace, environmental and other applications.