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

Key Points

• Corning shares fell 2.5% on Friday, trading between $146.94 and $154.47 on heavier-than-usual volume of about 14.2 million shares.
• Despite the pullback, Wall Street remains largely positive: several analysts raised price targets, and the stock now carries a consensus rating of “Moderate Buy” with an average target price of $194.69.
• Corning recently beat quarterly earnings and revenue estimates and also announced a quarterly dividend of $0.28 per share, equal to an annual yield of about 0.7%.

Corning Incorporated (NYSE:GLW - Get Free Report) dropped 2.5% on Friday . The stock traded as low as $146.94 and last traded at $154.4710. Approximately 14,195,205 shares were traded during trading, an increase of 10% from the average daily volume of 12,873,261 shares. The stock had previously closed at $158.39.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Mizuho increased their target price on Corning from $220.00 to $270.00 and gave the company an "outperform" rating in a research note on Wednesday, July 1st. Citigroup upped their price target on Corning from $225.00 to $240.00 and gave the stock a "buy" rating in a report on Monday. Oppenheimer increased their price objective on Corning from $210.00 to $230.00 and gave the company an "outperform" rating in a research report on Tuesday, July 7th. Bank of America raised their price objective on shares of Corning from $223.00 to $243.00 and gave the stock a "buy" rating in a research note on Monday, July 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Corning from $175.00 to $185.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $194.69.

Corning Trading Down 2.5%

The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $132.94 billion, a price-to-earnings ratio of 73.91, a P/E/G ratio of 2.29 and a beta of 1.09. The business has a 50-day moving average of $193.45 and a two-hundred day moving average of $152.83.

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

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. Corning's payout ratio is currently 53.59%.

Insider Transactions at Corning

In other news, SVP Soumya Seetharam sold 20,000 shares of Corning stock in a transaction dated Monday, May 11th. The shares were 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 in the company, valued at approximately $5,273,301.10. The trade was a 43.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of the company's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the completion of the sale, the senior vice president directly owned 94,400 shares in the company, valued at approximately $18,138,016. The trade was a 22.49% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Corning

Institutional investors have recently added to or reduced their stakes in the stock. Berbice Capital Management LLC acquired a new stake in Corning in the 4th quarter valued at $26,000. Basepoint Wealth LLC acquired a new position in Corning during the fourth quarter worth $26,000. Atwood & Palmer Inc. bought a new position in shares of Corning during the second quarter valued at $26,000. Kemnay Advisory Services Inc. bought a new position in shares of Corning during the fourth quarter valued at $27,000. Finally, Litman Gregory Wealth Management LLC acquired a new stake in shares of Corning in the 4th quarter valued at $31,000. 69.80% of the stock is 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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