Corning (NYSE:GLW) Trading Up 1.3% - What's Next?

Key Points

• Corning shares rose 1.3% in Tuesday trading, closing at $196.64 after touching an intraday high of $199.93. Volume came in below average at about 8.8 million shares.
• Analysts have been revising their outlooks higher, with Oppenheimer raising its price target to $210 and JPMorgan lifting its target to $185. The stock currently carries a consensus rating of Moderate Buy with an average target price of $177.92.
• Corning recently beat quarterly expectations, reporting $0.70 EPS on $4.35 billion in revenue, and it also announced a quarterly dividend of $0.28 per share to be paid June 29.

Corning Incorporated (NYSE:GLW - Get Free Report)'s share price rose 1.3% during trading on Tuesday . The stock traded as high as $199.93 and last traded at $196.64. Approximately 8,800,427 shares were traded during mid-day trading, a decline of 27% from the average daily volume of 12,020,142 shares. The stock had previously closed at $194.05.

Analysts Set New Price Targets

GLW has been the topic of several analyst reports. Truist Financial lifted their target price on Corning from $125.00 to $149.00 and gave the company a "hold" rating in a research report on Wednesday, April 29th. Wolfe Research set a $130.00 price objective on Corning and gave the company an "outperform" rating in a research note on Tuesday, January 27th. Oppenheimer lifted their price objective on shares of Corning from $120.00 to $210.00 and gave the stock an "outperform" rating in a report on Thursday, May 7th. Fox Advisors lowered shares of Corning from an "overweight" rating to an "equal weight" rating in a research note on Thursday, January 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of Corning from $175.00 to $185.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Corning has a consensus rating of "Moderate Buy" and an average target price of $177.92.

Corning Stock Up 1.3%

The stock has a 50-day moving average of $162.85 and a 200 day moving average of $124.03. The company has a market capitalization of $169.24 billion, a PE ratio of 94.09, a P/E/G ratio of 2.78 and a beta of 1.14. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating 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 return on equity of 19.45% and a net margin of 11.09%.The business's revenue for the quarter 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. Sell-side analysts anticipate that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.12 annualized dividend and a yield of 0.6%. Corning's payout ratio is currently 53.59%.

Insider Transactions at Corning

In related news, 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 sale, the senior vice president owned 10,174 shares of the company's stock, valued at approximately $2,106,221.48. The trade was a 24.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction 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 transaction, the senior vice president directly owned 94,400 shares of the company's stock, valued at approximately $18,138,016. This trade represents a 22.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 198,169 shares of company stock valued at $33,412,111. Corporate insiders own 0.25% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GLW. Capital Research Global Investors purchased a new stake in Corning during the third quarter valued at about $907,164,000. Norges Bank purchased a new position in shares of Corning in the fourth quarter worth about $921,435,000. WCM Investment Management LLC bought a new stake in shares of Corning in the third quarter valued at approximately $676,931,000. Wellington Management Group LLP lifted its stake in shares of Corning by 30.3% during the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker's stock valued at $1,358,211,000 after buying an additional 3,848,540 shares in the last quarter. Finally, Polar Capital Holdings Plc lifted its stake in shares of Corning by 141.2% during the 3rd quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker's stock valued at $329,035,000 after buying an additional 2,348,125 shares in 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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