Corning (NYSE:GLW) Stock Falls 3.2% – What’s Next?

Corning Incorporated (NYSE:GLW)’s share price traded down 3.2% during trading on Monday. The company traded as low as $158.44 and last traded at $158.9160. 6,399,112 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 12,140,209 shares. The stock had previously closed at $164.19.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on GLW shares. Truist Financial upped their target price on shares of Corning from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Friday. Citigroup decreased their price objective on Corning from $240.00 to $220.00 and set a “buy” rating for the company in a report on Wednesday, July 29th. UBS Group increased their price objective on Corning from $196.00 to $201.00 and gave the stock a “buy” rating in a research note on Monday. Barclays cut their target price on Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 29th. Finally, Bank of America boosted their price target on shares of Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Twelve equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Corning currently has a consensus rating of “Moderate Buy” and an average price target of $174.87.

Corning Trading Down 3.2%

The stock’s 50 day simple moving average is $153.10 and its two-hundred day simple moving average is $167.75. The stock has a market capitalization of $136.89 billion, a PE ratio of 72.56, a PEG ratio of 2.09 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 (NYSE:GLW) last issued its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.02. The company had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. Corning’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, sell-side analysts expect that Corning Incorporated will post 3.28 EPS for the current year.

Insider Buying and Selling

In other Corning news, EVP Lewis Steverson sold 13,100 shares of the 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 owned 15,052 shares in the company, valued at $2,277,217.08. This trade represents a 46.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is currently owned by company insiders.

Institutional Trading of Corning

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Baker Tilly Wealth Management LLC boosted its stake in Corning by 80.1% in the 3rd quarter. Baker Tilly Wealth Management LLC now owns 3,771 shares of the electronics maker’s stock worth $580,000 after purchasing an additional 1,677 shares during the period. Ferguson Wellman Capital Management Inc. boosted its position in shares of Corning by 10.1% in the third quarter. Ferguson Wellman Capital Management Inc. now owns 17,458 shares of the electronics maker’s stock valued at $2,684,000 after acquiring an additional 1,596 shares during the period. Eastern Bank boosted its position in shares of Corning by 1.2% in the third quarter. Eastern Bank now owns 7,958 shares of the electronics maker’s stock valued at $1,224,000 after acquiring an additional 98 shares during the period. Polaris Financial Partners purchased a new position in shares of Corning during the 3rd quarter valued at $152,000. Finally, First Financial Bank Trust Division increased its holdings in shares of Corning by 3.3% in the third quarter. First Financial Bank Trust Division now owns 92,114 shares of the electronics maker’s stock worth $14,163,000 after purchasing an additional 2,964 shares during the period. 69.80% of the stock is currently owned by institutional investors.

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.