Corning (NYSE:GLW) Stock Price Up 9.1% - Here's What Happened

Key Points

• Corning shares surged 9.1% to $159.93, with trading volume 43% above average. The move followed quarterly results that beat expectations, including $0.78 EPS versus $0.76 expected and $4.74 billion in revenue versus $4.63 billion forecast.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” from 16 analysts and an average price target of $174.08. Corning also guided for third-quarter 2026 EPS of $0.85–$0.89.
• The company declared a quarterly dividend of $0.28 per share, equivalent to a $1.12 annualized payout and a 0.7% yield. Insiders sold roughly $30.7 million of stock over the past 90 days, while institutional investors and hedge funds own 69.8% of shares.

Shares of Corning Incorporated (NYSE:GLW - Get Free Report) were up 9.1% during trading on Tuesday . The company traded as high as $162.49 and last traded at $159.93. 18,824,245 shares traded hands during mid-day trading, an increase of 43% from the average session volume of 13,159,173 shares. The stock had previously closed at $146.64.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Citigroup cut their price target on shares of Corning from $240.00 to $220.00 and set a "buy" rating on the stock in a research note on Wednesday, July 29th. Wall Street Zen raised shares of Corning from a "hold" rating to a "buy" rating in a report on Saturday, July 18th. Susquehanna upped their target price on Corning from $125.00 to $180.00 and gave the company a "positive" rating in a research report on Wednesday, April 29th. Mizuho reduced their target price on Corning from $270.00 to $210.00 and set an "outperform" rating for the company in a research note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. lowered their price target on Corning from $200.00 to $170.00 and set a "neutral" rating for the company in a research report on Wednesday, July 29th. Ten research 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 company has a consensus rating of "Moderate Buy" and a consensus target price of $174.08.

Corning Price Performance

The stock has a market cap of $137.76 billion, a price-to-earnings ratio of 73.03, a price-to-earnings-growth ratio of 1.78 and a beta of 1.14. The stock's 50 day moving average price is $181.97 and its two-hundred day moving average price is $157.64. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59.

Corning (NYSE:GLW - Get Free Report) last posted its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.02. The company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The firm's quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities research analysts forecast that Corning Incorporated will post 3.25 EPS for the current fiscal year.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. Corning's dividend payout ratio is presently 51.14%.

Insider Activity

In related news, SVP Soumya Seetharam sold 20,000 shares of the firm's stock in a transaction dated 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 sale, the senior vice president directly owned 25,570 shares of the company's stock, valued at $5,273,301.10. This trade represents a 43.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $207.02, for a total value 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 sold 160,655 shares of company stock valued at $30,692,560 over the last 90 days. Company insiders own 0.25% of the company's stock.

Hedge Funds Weigh In On Corning

Several large investors have recently made changes to their positions in the company. Brighton Jones LLC grew its position in shares of Corning by 46.0% during the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker's stock valued at $319,000 after acquiring an additional 2,114 shares during the period. Retirement Planning Co of New England Inc. acquired a new position in Corning in the 1st quarter worth about $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Corning by 9.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker's stock worth $2,962,000 after purchasing an additional 5,522 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in Corning during the second quarter worth approximately $401,000. Finally, Schnieders Capital Management LLC. acquired a new stake in Corning in the second quarter valued at approximately $266,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

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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