Corning (NYSE:GLW) Shares Up 5.6% - Still a Buy?

Key Points

• Corning shares rose 5.6% in Monday trading after the company announced a multibillion-dollar deal with Amazon tied to U.S. data center expansion. The agreement is expected to boost demand for Corning’s optical fiber and connectivity products.
• The Amazon partnership could also help Corning expand manufacturing capacity, including in North Carolina, and create about 1,000 jobs. Investors see the deal as strengthening Corning’s position in the AI and cloud infrastructure buildout.
• Wall Street remains constructive on the stock, with multiple firms raising price targets and analysts holding a Moderate Buy consensus. Corning also recently beat earnings and revenue estimates, while its quarterly dividend remains in place.

Shares of Corning Incorporated (NYSE:GLW - Get Free Report) shot up 5.6% during mid-day trading on Monday . The stock traded as high as $192.90 and last traded at $187.44. 11,965,137 shares were traded during mid-day trading, a decline of 1% from the average session volume of 12,115,009 shares. The stock had previously closed at $177.58.

More Corning News

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning announced a multibillion-dollar deal with Amazon to support U.S. data center expansion, which should boost demand for its optical fiber and connectivity products and could materially improve revenue visibility. Reuters: Amazon, Corning sign multi-billion-dollar deal to boost fiber optics manufacturing in US
• Positive Sentiment: The Amazon partnership is also expected to help Corning expand manufacturing capacity, including sites in North Carolina, and create about 1,000 jobs, signaling longer-term production growth and stronger strategic ties with a major cloud and AI customer. Barron’s: Corning Notches Multibillion-Dollar Deal With Amazon. The Stock Is Surging.
• Positive Sentiment: Market commentary says Corning is becoming more central to the AI buildout, following earlier agreements with Meta and Nvidia, which reinforces the bull case that AI-driven networking demand could keep driving results beyond this one deal. CNBC: Amazon strikes multibillion-dollar deal with Corning to power AI data centers in U.S.
• Neutral Sentiment: Analyst-style coverage comparing Viavi and Corning suggests Corning remains well positioned in optical networking, but this is more of an industry comparison than a new company-specific catalyst. Zacks: VIAV vs. GLW: Which Optical Networking Stock is the Better Buy?

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GLW. Citigroup boosted 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. Weiss Ratings reiterated a "buy (b-)" rating on shares of Corning in a research note on Friday, May 15th. Bank of America upped their price target on shares of Corning from $155.00 to $186.00 and gave the stock a "buy" rating in a report on Monday, April 20th. Morgan Stanley set a $180.00 price target on shares of Corning in a report on Friday, May 8th. Finally, Susquehanna upped their price target on shares of Corning from $125.00 to $180.00 and gave the stock a "positive" rating in a report on Wednesday, April 29th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $178.31.

Corning Stock Performance

The stock's fifty day moving average price is $173.00 and its two-hundred day moving average price is $130.61. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. The company has a market cap of $161.32 billion, a P/E ratio of 89.68, a P/E/G ratio of 2.54 and a beta of 1.15.

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

Corning Dividend Announcement

The business also recently disclosed 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 is Friday, May 29th. Corning's dividend payout ratio is currently 53.59%.

Insider Activity at Corning

In related news, VP John Z. Zhang sold 10,000 shares of the company's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction of $674,885.20. Following the transaction, the senior vice president owned 10,174 shares of the company's stock, valued at approximately $2,106,221.48. This represents a 24.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 60,655 shares of company stock valued at $12,046,561 in the last quarter. 0.25% of the stock is owned by company insiders.

Hedge Funds Weigh In On Corning

A number of institutional investors have recently added to or reduced their stakes in the stock. Merit Financial Group LLC lifted its stake in shares of Corning by 16.9% in the fourth quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker's stock valued at $3,940,000 after buying an additional 6,493 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ lifted its stake in shares of Corning by 4.9% in the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 261,749 shares of the electronics maker's stock valued at $21,471,000 after buying an additional 12,297 shares in the last quarter. Security National Bank lifted its stake in shares of Corning by 340.4% in the fourth quarter. Security National Bank now owns 72,523 shares of the electronics maker's stock valued at $6,350,000 after buying an additional 56,056 shares in the last quarter. Three Seasons Wealth LLC bought a new position in shares of Corning in the fourth quarter valued at $1,750,000. Finally, Natixis Advisors LLC lifted its stake in shares of Corning by 32.1% in the third quarter. Natixis Advisors LLC now owns 479,921 shares of the electronics maker's stock valued at $39,367,000 after buying an additional 116,583 shares in the last quarter. 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.

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