Corning Incorporated $GLW Stock: Corrado Advisors LLC Lowers Position

Corrado Advisors LLC cut its stake in Corning Incorporated (NYSE:GLW) by 30.2% in the third quarter, HoldingsChannel reports. The fund owned 9,932 shares of the electronics maker’s stock after selling 4,289 shares during the period. Corrado Advisors LLC’s holdings in Corning were worth $1,527,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Victory Financial Group LLC boosted its position in Corning by 10.0% in the 3rd quarter. Victory Financial Group LLC now owns 5,893 shares of the electronics maker’s stock worth $906,000 after purchasing an additional 536 shares in the last quarter. Great Lakes Retirement Inc. boosted its position in Corning by 5.0% during the third quarter. Great Lakes Retirement Inc. now owns 30,040 shares of the electronics maker’s stock worth $4,619,000 after purchasing an additional 1,441 shares in the last quarter. Lynch Investment Planning LLC purchased a new position in Corning during the third quarter worth approximately $65,000. Balance Wealth Partners LLC acquired a new stake in Corning in the third quarter valued at approximately $50,000. Finally, Autumn Glory Partners LLC grew its holdings in Corning by 158.2% in the third quarter. Autumn Glory Partners LLC now owns 7,294 shares of the electronics maker’s stock valued at $1,122,000 after purchasing an additional 4,469 shares during the period. 69.80% of the stock is owned by institutional investors and hedge funds.

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 sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on GLW shares. Sanford C. Bernstein assumed coverage on Corning in a report on Wednesday, September 30th. They set a “market perform” rating and a $140.00 target price for the company. Oppenheimer cut their price objective on shares of Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. China Renaissance raised shares of Corning from a “hold” rating to a “buy” rating and set a $238.00 target price on the stock in a research note on Tuesday, September 8th. Barclays upped their price target on Corning from $129.00 to $132.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, The Goldman Sachs Group reaffirmed an “outperform” rating on shares of Corning in a report on Tuesday, September 15th. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Corning currently has an average rating of “Moderate Buy” and an average target price of $175.81.

More Corning News

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Strong Q3 earnings and outlook: Core sales rose 19% year over year to $5.08 billion, while adjusted EPS of $0.91 exceeded analyst expectations. Corning also guided to higher fourth-quarter earnings and revenue of approximately $5.25 billion at the midpoint. Corning Delivers Outstanding Third-Quarter Results
• Positive Sentiment: AI is driving optical growth: Optical Communications revenue surged 44% to roughly $2.38 billion, while Enterprise Networks sales increased 84%. Management said generative-AI product sales are growing faster than GPU shipments, supporting stronger margins and demand. GLW Q3 Earnings Beat Estimates
• Positive Sentiment: Large long-term opportunity: Corning expects AI data centers to increasingly replace copper with optical connections beginning around 2028. That transition could increase fiber requirements per GPU by as much as tenfold and support the company’s goal of reaching a $40 billion annualized sales run rate by 2030. Customer deposits and multiyear agreements are helping fund capacity expansion. The Invisible AI Backbone: Corning’s AI Fiber Play
• Positive Sentiment: Analyst support remains favorable: Truist reaffirmed its “buy” rating and set a $175 price target, indicating substantial potential upside from recent levels, although the target was reduced from $182. Corning Price Target Lowered at Truist
• Neutral Sentiment: Mixed analyst revisions: Morgan Stanley lowered its price target from $165 to $155 and maintained an “equal weight” rating, reflecting caution despite recognizing the company’s growth prospects.
• Negative Sentiment: Valuation and expectations remain risks: Corning trades at a high earnings multiple after a sharp retreat from its highs. Investors may continue to take profits or demand evidence that AI-driven growth can justify the valuation, particularly as the company invests heavily in expansion.

Corning Trading Up 4.1%

Shares of GLW stock opened at $131.46 on Thursday. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. Corning Incorporated has a twelve month low of $77.39 and a twelve month high of $271.78. The company’s 50-day moving average price is $148.92 and its 200-day moving average price is $154.57. The stock has a market cap of $113.24 billion, a price-to-earnings ratio of 60.03, a PEG ratio of 1.56 and a beta of 1.13.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, October 27th. The electronics maker reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. Corning had a net margin of 11.20% and a return on equity of 20.09%. The firm had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same period last year, the business earned $0.67 earnings per share. Corning’s revenue was up 18.9% compared to the same quarter last year. As a group, equities analysts predict that Corning Incorporated will post 3.30 earnings per share for the current year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 13th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.12 annualized dividend and a dividend yield of 0.9%. Corning’s dividend payout ratio is 51.14%.

About Corning

Corning Incorporated (NYSE: GLW) is a technology company that develops and manufactures specialty glass, ceramics and optical-fiber products. Its materials and engineering expertise support communications networks, consumer electronics, automotive systems, life sciences and other industrial applications.

The company’s products include optical fiber, cable and connectivity solutions used in telecommunications infrastructure; glass substrates for televisions, computer monitors and other displays; durable cover glass for mobile devices; emissions-control components for vehicles; laboratory glassware and consumables; and specialized glass and ceramic materials for scientific, industrial and semiconductor applications.

Founded in 1851 and headquartered in Corning, New York, the company serves customers through operations and facilities across North America, Europe, Asia and other international markets.