Corning (NYSE:GLW) Stock Price Target Raised at Truist Financial

Corning (NYSE:GLW) had its price objective boosted by investment analysts at Truist Financial from $175.00 to $182.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the electronics maker’s stock. Truist Financial’s price target indicates a potential upside of 10.68% from the company’s previous close.

A number of other research analysts have also recently commented on GLW. Mizuho cut their target price on Corning from $210.00 to $180.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 15th. Barclays decreased their price target on Corning from $180.00 to $129.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Weiss Ratings cut Corning from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 21st. The Goldman Sachs Group reaffirmed an “outperform” rating on shares of Corning in a research report on Tuesday, September 15th. Finally, Wall Street Zen lowered Corning from a “buy” rating to a “hold” rating in a research note on Monday, August 24th. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $174.53.

Corning Trading Up 2.5%

Shares of Corning stock traded up $4.02 during trading on Friday, hitting $164.44. The stock had a trading volume of 2,052,874 shares, compared to its average volume of 12,140,603. The firm’s fifty day simple moving average is $152.75 and its 200-day simple moving average is $167.53. The stock has a market cap of $141.65 billion, a PE ratio of 74.74, a PEG ratio of 1.96 and a beta of 1.13. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. Corning has a 12 month low of $77.39 and a 12 month high of $271.78.

Corning (NYSE:GLW) last issued its quarterly earnings results 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 net margin of 11.20% and a return on equity of 20.09%. The company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. During the same period in the prior year, the firm posted $0.60 EPS. The firm’s revenue was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, sell-side analysts expect that Corning will post 3.28 EPS for the current fiscal 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 value of $1,981,899.00. Following the completion of the sale, the executive vice president directly owned 15,052 shares in the company, valued at approximately $2,277,217.08. This represents a 46.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Corning

Several large investors have recently modified their holdings of GLW. Herbst Group LLC bought a new position in Corning in the second quarter worth approximately $4,474,000. Principal Financial Group Inc. boosted its position in Corning by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker’s stock valued at $121,483,000 after acquiring an additional 10,591 shares in the last quarter. Wealthfront Advisers LLC increased its holdings in shares of Corning by 36.2% in the 1st quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker’s stock valued at $12,567,000 after acquiring an additional 24,589 shares during the period. Atlas Wealth LLC raised its position in shares of Corning by 137.8% in the 1st quarter. Atlas Wealth LLC now owns 12,076 shares of the electronics maker’s stock worth $1,642,000 after acquiring an additional 6,998 shares in the last quarter. Finally, Silverlake Wealth Management LLC bought a new position in shares of Corning in the 2nd quarter worth $1,872,000. Institutional investors own 69.80% of the company’s stock.

About Corning

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.