Corning (NYSE:GLW) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Corning from “buy” to “hold,” even though the broader analyst consensus remains a “Moderate Buy” with an average price target of $178.31.
• Corning recently reported better-than-expected quarterly results, posting EPS of $0.70 on revenue of $4.35 billion and raising its Q2 2026 EPS guidance to $0.73-$0.77.
• Insider selling has been notable, with multiple executives trimming holdings and insiders selling 60,655 shares worth about $12.0 million over the last 90 days.

Corning (NYSE:GLW - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

Other equities analysts have also issued reports about the stock. Weiss Ratings reiterated a "buy (b-)" rating on shares of Corning in a research report on Friday, May 15th. HSBC reiterated a "buy" rating and set a $135.00 target price on shares of Corning in a research report on Friday, February 13th. Oppenheimer upped their target price on shares of Corning from $120.00 to $210.00 and gave the stock an "outperform" rating in a research report on Thursday, May 7th. Susquehanna upped their target price on shares of Corning from $125.00 to $180.00 and gave the stock a "positive" rating in a research report on Wednesday, April 29th. Finally, Mizuho upped their target price on shares of Corning from $190.00 to $220.00 and gave the stock an "outperform" rating in a research 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $178.31.

Corning Price Performance

NYSE:GLW opened at $177.52 on Friday. The firm has a market cap of $152.78 billion, a PE ratio of 84.94, a price-to-earnings-growth ratio of 2.83 and a beta of 1.15. Corning has a 12 month low of $49.47 and a 12 month high of $211.79. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The company's 50-day moving average price is $173.00 and its two-hundred day moving average price is $130.26.

Corning (NYSE:GLW - Get Free Report) last released its quarterly 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 firm had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company's revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities analysts anticipate that Corning will post 3.19 EPS for the current fiscal year.

Insider Buying and Selling at Corning

In related news, VP John Z. Zhang sold 10,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the transaction, the vice president directly owned 5,138 shares in the company, valued at $1,019,070.92. This represents a 66.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction of $674,885.20. Following the completion of the transaction, the senior vice president owned 10,174 shares in the company, valued at $2,106,221.48. This represents a 24.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 60,655 shares of company stock valued at $12,046,561. 0.25% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Corning

Several large investors have recently bought and sold shares of the business. Signature Equity Partners LLC lifted its holdings in Corning by 19.3% in the first quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker's stock valued at $52,000 after buying an additional 62 shares during the period. Beirne Wealth Consulting Services LLC lifted its holdings in Corning by 0.8% in the first quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker's stock valued at $1,094,000 after buying an additional 64 shares during the period. Balefire LLC lifted its holdings in Corning by 0.7% in the first quarter. Balefire LLC now owns 9,595 shares of the electronics maker's stock valued at $1,305,000 after buying an additional 65 shares during the period. Millstone Evans Group LLC lifted its holdings in Corning by 1.3% in the first quarter. Millstone Evans Group LLC now owns 5,393 shares of the electronics maker's stock valued at $733,000 after buying an additional 67 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in Corning by 1.6% in the first quarter. Geneos Wealth Management Inc. now owns 4,585 shares of the electronics maker's stock valued at $623,000 after buying an additional 70 shares during the period. 69.80% of the stock is currently owned by institutional investors and hedge funds.

About Corning

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.