Corning (NYSE:GLW) Shares Gap Up - What's Next?

Key Points

• Corning shares gapped up sharply before Monday’s open, rising from a prior close of $177.58 to an open of $192.90 and last trading near $187.10.
• Analyst sentiment remains mostly constructive, with 10 Buy ratings and 6 Hold ratings; the consensus price target is $178.31, even as UBS raised its target to $228 and Zacks cut the stock to Hold.
• Recent fundamentals were solid, as Corning beat quarterly EPS and revenue estimates, posted 18.1% year-over-year revenue growth, and reiterated Q2 2026 guidance of $0.73 to $0.77 EPS. The company also pays a quarterly dividend of $0.28 per share, yielding about 0.6%.

Corning Incorporated (NYSE:GLW - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $177.58, but opened at $192.90. Corning shares last traded at $187.0990, with a volume of 2,983,738 shares traded.

Analyst Ratings Changes

Several brokerages have commented on GLW. Zacks Research lowered shares of Corning from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. HSBC reiterated a "buy" rating and issued a $135.00 price objective on shares of Corning in a research report on Friday, February 13th. UBS Group boosted their price objective on shares of Corning from $223.00 to $228.00 and gave the stock a "buy" rating in a research report on Friday. Susquehanna boosted their price objective 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, Barclays boosted their price objective on shares of Corning from $149.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Friday, May 8th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $178.31.

Corning Stock Performance

The stock's 50-day moving average is $173.00 and its 200-day moving average is $130.61. The stock has a market cap of $162.95 billion, a price-to-earnings ratio of 90.73, a P/E/G ratio of 2.54 and a beta of 1.15. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW - Get Free Report) last posted its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.01. The firm had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company's revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, analysts expect that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning's dividend payout ratio is 53.59%.

Insider Buying and Selling at Corning

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of the company's stock in a transaction that occurred 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of the company's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $206.23, for a total value of $4,124,600.00. Following the completion of the transaction, the senior vice president owned 25,570 shares of the company's stock, valued at approximately $5,273,301.10. This represents a 43.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 60,655 shares of company stock worth $12,046,561 in the last quarter. Company insiders own 0.25% of the company's stock.

Hedge Funds Weigh In On Corning

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Signature Equity Partners LLC grew its position in shares of Corning by 19.3% during the first quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker's stock worth $52,000 after buying an additional 62 shares in the last quarter. Beirne Wealth Consulting Services LLC increased its stake in shares of Corning by 0.8% in the first quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker's stock worth $1,094,000 after buying an additional 64 shares during the last quarter. Balefire LLC increased its stake in shares of Corning by 0.7% in the first quarter. Balefire LLC now owns 9,595 shares of the electronics maker's stock worth $1,305,000 after buying an additional 65 shares during the last quarter. Millstone Evans Group LLC increased its stake in shares of Corning by 1.3% in the first quarter. Millstone Evans Group LLC now owns 5,393 shares of the electronics maker's stock worth $733,000 after buying an additional 67 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in shares of Corning by 1.6% in the first quarter. Geneos Wealth Management Inc. now owns 4,585 shares of the electronics maker's stock worth $623,000 after buying an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 69.80% of the company's stock.

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.

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