Corning (NYSE:GLW) Shares Down 1.3% Following Analyst Downgrade

Key Points

• JPMorgan downgraded Corning from an overweight to a neutral rating, and the stock slipped 1.3% after the call even though JPMorgan raised its price target to $175 (from $115).
• Analyst views are mixed — ten Buys and six Holds — leaving a MarketBeat consensus of Moderate Buy with a consensus price target of $136.69, while individual targets range roughly $100–$175.
• Insiders sold 233,201 shares (~$32.6 million) in the last quarter (including large sales by EVP Lewis Steverson and SVP Li Fang), with insiders holding just 0.25% of shares and institutions owning about 69.8%.

Corning Incorporated (NYSE:GLW - Get Free Report)'s stock price dropped 1.3% on Thursday after JPMorgan Chase & Co. downgraded the stock from an overweight rating to a neutral rating. JPMorgan Chase & Co. now has a $175.00 price target on the stock, up from their previous price target of $115.00. Corning traded as low as $158.50 and last traded at $166.0290. Approximately 12,523,065 shares were traded during trading, an increase of 11% from the average daily volume of 11,331,179 shares. The stock had previously closed at $168.27.

A number of other analysts have also commented on the stock. Oppenheimer set a $120.00 price objective on shares of Corning in a research note on Thursday, January 29th. Wolfe Research set a $130.00 price target on shares of Corning and gave the company an "outperform" rating in a report on Tuesday, January 27th. Barclays set a $100.00 price target on shares of Corning in a research report on Thursday, January 29th. UBS Group raised their price objective on shares of Corning from $125.00 to $160.00 and gave the stock a "buy" rating in a research note on Friday, February 20th. Finally, Weiss Ratings upgraded shares of Corning from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, February 17th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $136.69.

Insider Transactions at Corning

In other Corning news, EVP Lewis A. Steverson sold 15,366 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $130.22, for a total value of $2,000,960.52. Following the completion of the sale, the executive vice president owned 3,461 shares in the company, valued at $450,691.42. This represents a 81.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Li Fang sold 9,797 shares of the business's stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $113.51, for a total transaction of $1,112,057.47. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 233,201 shares of company stock worth $32,614,558. 0.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On Corning

Hedge funds and other institutional investors have recently made changes to their positions in the company. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in Corning in the third quarter worth approximately $25,000. Berbice Capital Management LLC acquired a new stake in Corning in the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC bought a new stake in Corning in the fourth quarter worth approximately $26,000. Strengthening Families & Communities LLC bought a new stake in Corning in the third quarter worth approximately $27,000. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of Corning during the 4th quarter worth $27,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning Stock Down 1.3%

The firm has a market cap of $142.62 billion, a P/E ratio of 90.23, a P/E/G ratio of 2.71 and a beta of 1.06. The business's fifty day moving average price is $140.79 and its two-hundred day moving average price is $106.82. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings data on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.01. The firm had revenue of $4.41 billion during the quarter, compared to analysts' expectations of $4.35 billion. Corning had a net margin of 10.21% and a return on equity of 18.72%. Corning's revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 earnings per share. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. As a group, equities research analysts anticipate that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Friday, February 27th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, February 27th. Corning's dividend payout ratio is 60.87%.

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.

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