Corning (NYSE:GLW) Shares Down 2.5% - Should You Sell?

Key Points

• Corning shares fell 2.5% to about $142.94 in heavy midday trading, below both its 50-day and 200-day moving averages.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $194.69, despite some Hold ratings.
• Corning reported year-over-year revenue growth of 18.1% and slightly beat quarterly EPS estimates. The company also declared a quarterly dividend of $0.28 per share, while insiders sold more than $30.6 million of stock during the last quarter.

Corning Incorporated (NYSE:GLW - Get Free Report) shares fell 2.5% on Monday . The company traded as low as $136.31 and last traded at $142.9380. 13,940,106 shares traded hands during mid-day trading, an increase of 9% from the average daily volume of 12,738,889 shares. The stock had previously closed at $146.65.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Barclays upped their price objective on Corning from $149.00 to $180.00 and gave the company an "equal weight" rating in a report on Friday, May 8th. Truist Financial lifted their target price on Corning from $149.00 to $205.00 and gave the stock a "hold" rating in a report on Monday, June 22nd. UBS Group set a $243.00 price target on shares of Corning in a research report on Monday, July 6th. Wall Street Zen raised shares of Corning from a "hold" rating to a "buy" rating in a report on Saturday, July 18th. Finally, Zacks Research lowered shares of Corning from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. Nine analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $194.69.

Corning Stock Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The firm has a market capitalization of $123.02 billion, a PE ratio of 68.39, a P/E/G ratio of 1.93 and a beta of 1.09. The firm has a fifty day moving average price of $188.01 and a 200 day moving average price of $155.61.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm had revenue of $4.34 billion for the quarter, compared to analysts' expectations of $4.30 billion. During the same quarter last year, the business posted $0.54 EPS. Corning's revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Research analysts anticipate that Corning Incorporated will post 3.18 earnings per share for the current fiscal year.

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. Corning's dividend payout ratio (DPR) is 53.59%.

Insiders Place Their Bets

In related news, SVP Jaymin Amin sold 27,395 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the completion of the transaction, the senior vice president owned 94,400 shares of the company's stock, valued at approximately $18,138,016. This trade represents a 22.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Soumya Seetharam sold 20,000 shares of Corning stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the transaction, the senior vice president owned 25,570 shares in the company, valued at approximately $5,273,301.10. The trade was a 43.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 160,655 shares of company stock worth $30,692,560 in the last quarter. Corporate insiders own 0.25% of the company's stock.

Institutional Investors Weigh In On Corning

Institutional investors have recently modified their holdings of the stock. Trust Asset Management LLC grew its holdings in shares of Corning by 1.0% during the 2nd quarter. Trust Asset Management LLC now owns 8,648 shares of the electronics maker's stock valued at $2,209,000 after acquiring an additional 85 shares in the last quarter. First Community Trust NA acquired a new position in shares of Corning in the second quarter worth $72,000. Regent Peak Wealth Advisors LLC raised its holdings in shares of Corning by 2.0% during the second quarter. Regent Peak Wealth Advisors LLC now owns 3,569 shares of the electronics maker's stock worth $912,000 after acquiring an additional 70 shares in the last quarter. Annex Advisory Services LLC purchased a new stake in shares of Corning during the second quarter worth $284,000. Finally, Tema ETFs LLC boosted its position in Corning by 10.5% during the second quarter. Tema ETFs LLC now owns 13,723 shares of the electronics maker's stock valued at $3,505,000 after purchasing an additional 1,305 shares during the last quarter. Institutional investors and hedge funds 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.

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