Corning (NYSE:GLW) Stock Price Up 7.5% – What’s Next?

Corning Incorporated (NYSE:GLW) shares rose 7.5% during mid-day trading on Monday . The company traded as high as $212.39 and last traded at $209.6080. Approximately 18,472,222 shares were traded during mid-day trading, an increase of 51% from the average session volume of 12,217,908 shares. The stock had previously closed at $194.92.

Analysts Set New Price Targets

A number of brokerages have commented on GLW. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. UBS Group lifted their target price on Corning from $223.00 to $228.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Citigroup upped their price target on Corning from $175.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Susquehanna raised their price objective on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research report on Wednesday, April 29th. Finally, Mizuho boosted their price objective on shares of Corning from $190.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Corning has a consensus rating of “Moderate Buy” and a consensus price target of $182.62.

Corning Price Performance

The company has a fifty day moving average of $181.88 and a 200-day moving average of $139.30. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The stock has a market cap of $177.21 billion, a PE ratio of 98.52, a P/E/G ratio of 3.00 and a beta of 1.15.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.Corning’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period last year, the business posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Sell-side analysts expect that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, May 29th. This represents a $1.12 dividend on an annualized basis and a yield of 0.5%. Corning’s dividend payout ratio is 53.59%.

Insider Buying and Selling

In other news, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the sale, the senior vice president directly owned 10,174 shares in the company, valued at approximately $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the transaction, the senior vice president directly owned 94,400 shares of the company’s stock, valued at $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 160,655 shares of company stock worth $30,692,560 over the last three months. 0.25% of the stock is owned by insiders.

Hedge Funds Weigh In On Corning

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Basecamp Wealth Advisors LLC increased its stake in Corning by 1.8% in the first quarter. Basecamp Wealth Advisors LLC now owns 6,091 shares of the electronics maker’s stock valued at $828,000 after purchasing an additional 106 shares during the last quarter. Sapient Capital LLC lifted its position in shares of Corning by 4.4% during the 1st quarter. Sapient Capital LLC now owns 4,768 shares of the electronics maker’s stock worth $648,000 after buying an additional 201 shares during the last quarter. Western Wealth Management LLC lifted its position in shares of Corning by 17.1% during the 1st quarter. Western Wealth Management LLC now owns 30,229 shares of the electronics maker’s stock worth $4,110,000 after buying an additional 4,417 shares during the last quarter. Wealthquest Corp acquired a new position in shares of Corning in the 1st quarter valued at $250,000. Finally, DV Trading LLC boosted its holdings in shares of Corning by 89.1% in the 1st quarter. DV Trading LLC now owns 1,891 shares of the electronics maker’s stock valued at $257,000 after buying an additional 891 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Company Profile

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.