Cantor Fitzgerald Investment Advisors L.P. Buys 151,113 Shares of Corning Incorporated $GLW

Key Points

• Cantor Fitzgerald Investment Advisors L.P. increased its stake in Corning Incorporated by 96.9%, now owning a total of 307,138 shares valued at approximately $16.15 million.
• Several investment firms have also upped their positions in Corning, with hedge funds holding 69.80% of the company's stock, indicating strong institutional interest.
• Corning's stock received multiple "outperform" ratings from analysts, with target prices rising to between $56.00 and $93.00, reflecting positive growth expectations.

Cantor Fitzgerald Investment Advisors L.P. grew its stake in Corning Incorporated (NYSE:GLW - Free Report) by 96.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 307,138 shares of the electronics maker's stock after purchasing an additional 151,113 shares during the period. Corning makes up about 1.1% of Cantor Fitzgerald Investment Advisors L.P.'s portfolio, making the stock its 27th biggest position. Cantor Fitzgerald Investment Advisors L.P.'s holdings in Corning were worth $16,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Investment Management Corp VA ADV boosted its stake in shares of Corning by 165.9% during the 1st quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker's stock worth $34,000 after purchasing an additional 463 shares during the period. Annis Gardner Whiting Capital Advisors LLC lifted its stake in Corning by 90.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker's stock worth $34,000 after purchasing an additional 353 shares during the last quarter. Banque Transatlantique SA bought a new stake in Corning in the first quarter worth about $34,000. Resources Management Corp CT ADV boosted its position in shares of Corning by 66.7% during the first quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker's stock valued at $34,000 after buying an additional 300 shares during the period. Finally, Gen Wealth Partners Inc grew its stake in shares of Corning by 151.7% during the first quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker's stock valued at $35,000 after buying an additional 455 shares during the last quarter. Hedge funds and other institutional investors own 69.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Wolfe Research started coverage on Corning in a research note on Tuesday, July 8th. They set an "outperform" rating for the company. Oppenheimer reiterated an "outperform" rating and set a $72.00 target price (up from $55.00) on shares of Corning in a research report on Wednesday, July 30th. Citigroup boosted their target price on shares of Corning from $72.00 to $93.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. Morgan Stanley set a $56.00 price target on shares of Corning and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Finally, Barclays lifted their price objective on shares of Corning from $52.00 to $65.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $70.08.

Insider Buying and Selling

In other news, CEO Wendell P. Weeks sold 82,103 shares of the business's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $65.19, for a total value of $5,352,294.57. Following the completion of the transaction, the chief executive officer directly owned 809,295 shares of the company's stock, valued at approximately $52,757,941.05. The trade was a 9.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Michael Paul O'day sold 14,879 shares of the firm's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $62.36, for a total value of $927,854.44. Following the sale, the senior vice president directly owned 35,743 shares in the company, valued at approximately $2,228,933.48. The trade was a 29.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 181,671 shares of company stock valued at $11,816,899 over the last ninety days. Company insiders own 0.40% of the company's stock.

Corning Stock Up 1.3%

NYSE:GLW opened at $83.10 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.50 and a quick ratio of 0.93. Corning Incorporated has a 1-year low of $37.31 and a 1-year high of $83.75. The company has a 50-day moving average of $69.64 and a 200 day moving average of $55.42. The firm has a market cap of $71.18 billion, a PE ratio of 88.40, a price-to-earnings-growth ratio of 1.83 and a beta of 1.14.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. Corning had a net margin of 5.77% and a return on equity of 17.27%. The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.84 billion. During the same quarter in the previous year, the business posted $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, research analysts anticipate that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.