Corning Sees Unusually Large Options Volume (NYSE:GLW)

Key Points

• Corning Incorporated experienced a significant surge in options trading, with 18,701 call options acquired, reflecting a 23% increase over its average trading volume.
• Insider trading activity was notable as SVP Jaymin Amin sold 17,721 shares for approximately $1.37 million, reducing his ownership by 16.65%.
• Institutional investors are actively increasing their stakes in Corning, with multiple firms, including Norges Bank and Amundi, boosting their holdings significantly this year.

Corning Incorporated (NYSE:GLW - Get Free Report) saw unusually large options trading on Tuesday. Traders acquired 18,701 call options on the company. This is an increase of approximately 23% compared to the typical volume of 15,247 call options.

Insider Activity at Corning

In other news, SVP Jaymin Amin sold 17,721 shares of Corning stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $77.18, for a total transaction of $1,367,706.78. Following the completion of the sale, the senior vice president owned 88,722 shares of the company's stock, valued at approximately $6,847,563.96. This trade represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lewis A. Steverson sold 16,646 shares of Corning stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $62.22, for a total value of $1,035,714.12. Following the sale, the executive vice president directly owned 39,759 shares of the company's stock, valued at $2,473,804.98. This represents a 29.51% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 181,671 shares of company stock valued at $11,816,899. 0.32% of the stock is currently owned by insiders.

Institutional Trading of Corning

Several hedge funds and other institutional investors have recently made changes to their positions in GLW. Norges Bank bought a new stake in shares of Corning during the second quarter worth about $534,936,000. Amundi grew its holdings in shares of Corning by 64.3% during the first quarter. Amundi now owns 6,408,605 shares of the electronics maker's stock worth $271,237,000 after purchasing an additional 2,507,797 shares during the last quarter. Nuveen LLC bought a new stake in shares of Corning during the first quarter worth about $104,789,000. Kingstone Capital Partners Texas LLC bought a new stake in shares of Corning during the second quarter worth about $92,560,000. Finally, Raymond James Financial Inc. grew its holdings in shares of Corning by 93.0% during the second quarter. Raymond James Financial Inc. now owns 3,407,608 shares of the electronics maker's stock worth $179,206,000 after purchasing an additional 1,641,558 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors.

Corning Price Performance

Corning stock traded up $0.58 during midday trading on Tuesday, reaching $80.84. The company's stock had a trading volume of 1,313,934 shares, compared to its average volume of 6,105,098. Corning has a 52 week low of $37.31 and a 52 week high of $81.58. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average price of $68.53 and a 200-day moving average price of $55.04. The stock has a market cap of $69.25 billion, a PE ratio of 86.20, a price-to-earnings-growth ratio of 1.77 and a beta of 1.09.

Corning (NYSE:GLW - Get Free Report) last released its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.03. Corning had a return on equity of 17.27% and a net margin of 5.77%.The firm had revenue of $3.86 billion for the quarter, compared to analysts' expectations of $3.84 billion. During the same quarter in the previous year, the business posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, sell-side analysts predict that Corning will post 2.33 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GLW shares. Barclays boosted their price target on Corning from $52.00 to $65.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price target on Corning from $62.00 to $65.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Oppenheimer reaffirmed an "outperform" rating and issued a $72.00 price target (up previously from $55.00) on shares of Corning in a research note on Wednesday, July 30th. Susquehanna reaffirmed a "positive" rating and issued a $75.00 price target (up previously from $60.00) on shares of Corning in a research note on Wednesday, July 30th. Finally, Citigroup boosted their price target on Corning from $72.00 to $93.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $70.08.

About Corning

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.

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