Corning (NYSE:GLW) Stock Price Up 2.4% Following Analyst Upgrade

Corning Incorporated (NYSE:GLW)’s share price was up 2.4% during mid-day trading on Friday after Truist Financial raised their price target on the stock from $175.00 to $182.00. Truist Financial currently has a buy rating on the stock. Corning traded as high as $165.14 and last traded at $164.2010. Approximately 7,464,837 shares were traded during trading, a decline of 39% from the average daily volume of 12,170,304 shares. The stock had previously closed at $160.42.

Several other research firms have also weighed in on GLW. Weiss Ratings lowered shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 21st. JPMorgan Chase & Co. cut their price objective on Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, July 29th. Wall Street Zen lowered Corning from a “buy” rating to a “hold” rating in a research report on Monday, August 24th. Mizuho dropped their target price on shares of Corning from $210.00 to $180.00 and set an “outperform” rating on the stock in a report on Tuesday, September 15th. Finally, UBS Group reaffirmed a “buy” rating and issued a $196.00 price target on shares of Corning in a research note on Wednesday, July 29th. Twelve research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $174.53.

Insider Buying and Selling at Corning

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

Corning News Summary

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Large AT&T fiber contract: Corning and AT&T signed a fiber and cable supply agreement valued at more than $3 billion. The multiyear deal is expected to support Corning’s Optical Communications business as AT&T expands U.S. broadband capacity and AI increases data-center and network demand. Corning and AT&T’s $3 Billion Fiber Deal Reveals Where AI Spending Goes Next
• Positive Sentiment: Analyst price-target increase: Truist Financial raised its Corning target from $175 to $182 and maintained a “buy” rating, citing potential upside from the company’s growth opportunities. The revision reinforces bullish sentiment around fiber and AI infrastructure exposure.
• Positive Sentiment: Sector momentum: Corning advanced alongside strong gains in optical and AI-infrastructure suppliers such as Coherent and Lumentum, suggesting investors are broadly favoring companies positioned to benefit from accelerating data-traffic and connectivity spending. Optical and AI Infrastructure Stocks Advance
• Neutral Sentiment: New analyst coverage: Sanford C. Bernstein began coverage of Corning, potentially increasing institutional attention, although the initial rating and price target were not provided. Sanford C. Bernstein Begins Coverage on Corning
• Negative Sentiment: Legal and valuation risks: First Solar filed a patent-infringement lawsuit against JA Solar and a Corning subsidiary, creating potential litigation uncertainty. Separately, coverage highlighted Corning’s premium valuation and insider selling, which could limit further gains if growth expectations weaken. First Solar Files Patent-Infringement Lawsuit
• Negative Sentiment: Investor investigation: Pomerantz LLP announced an investigation into potential claims on behalf of Corning investors. The announcement does not establish wrongdoing, but it adds headline and legal risk around the stock. Pomerantz Investor Alert

Institutional Investors Weigh In On Corning

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Financial Bank Trust Division lifted its position in Corning by 3.3% during the 3rd quarter. First Financial Bank Trust Division now owns 92,114 shares of the electronics maker’s stock worth $14,163,000 after buying an additional 2,964 shares in the last quarter. Montecito Bank & Trust grew its holdings in shares of Corning by 17.7% in the 3rd quarter. Montecito Bank & Trust now owns 3,425 shares of the electronics maker’s stock valued at $527,000 after acquiring an additional 515 shares in the last quarter. Stonebridge Financial Group LLC raised its holdings in Corning by 5.4% during the third quarter. Stonebridge Financial Group LLC now owns 45,453 shares of the electronics maker’s stock worth $6,989,000 after acquiring an additional 2,327 shares in the last quarter. Cacti Asset Management LLC boosted its position in Corning by 3.4% during the third quarter. Cacti Asset Management LLC now owns 703,270 shares of the electronics maker’s stock valued at $111,616,000 after purchasing an additional 23,078 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its position in Corning by 15.9% during the second quarter. QRG Capital Management Inc. now owns 130,887 shares of the electronics maker’s stock valued at $33,432,000 after purchasing an additional 17,955 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Stock Performance

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 stock has a 50 day simple moving average of $152.75 and a two-hundred day simple moving average of $167.53. The stock has a market capitalization of $141.44 billion, a P/E ratio of 74.98, a P/E/G ratio of 1.96 and a beta of 1.13.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, topping 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 firm had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. During the same quarter in the previous year, the firm earned $0.60 EPS. The business’s quarterly revenue 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, equities analysts forecast that Corning Incorporated will post 3.28 EPS for the current fiscal year.

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.