Corning Incorporated $GLW Shares Acquired by Valicenti Advisory Services Inc.

Key Points

• Valicenti Advisory Services Inc. increased its stake in Corning Incorporated by 5.7% in the second quarter, now holding 164,339 shares valued at approximately $8.64 million.
• Several institutional investors, including Amundi and Deutsche Bank AG, significantly boosted their stakes in Corning, reflecting growing confidence in the company's prospects.
• Corning's stock received mixed reviews from analysts, with ratings ranging from Strong Buy to Hold, and an average price target set at $70.08.

Valicenti Advisory Services Inc. increased its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 5.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 164,339 shares of the electronics maker's stock after buying an additional 8,862 shares during the quarter. Corning comprises approximately 2.0% of Valicenti Advisory Services Inc.'s holdings, making the stock its 18th largest position. Valicenti Advisory Services Inc.'s holdings in Corning were worth $8,643,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Amundi boosted its stake in Corning by 64.3% during the first quarter. Amundi now owns 6,408,605 shares of the electronics maker's stock valued at $271,237,000 after buying an additional 2,507,797 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Corning by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 6,347,977 shares of the electronics maker's stock worth $290,610,000 after acquiring an additional 80,872 shares in the last quarter. Invesco Ltd. lifted its stake in Corning by 4.8% in the 1st quarter. Invesco Ltd. now owns 6,337,063 shares of the electronics maker's stock worth $290,111,000 after acquiring an additional 288,328 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Corning by 10.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,844,174 shares of the electronics maker's stock worth $267,546,000 after acquiring an additional 558,184 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in Corning by 37.1% in the 1st quarter. Deutsche Bank AG now owns 3,835,799 shares of the electronics maker's stock worth $175,603,000 after acquiring an additional 1,037,875 shares in the last quarter. Institutional investors own 69.80% of the company's stock.

Wall Street Analysts Forecast Growth

GLW has been the topic of a number of analyst reports. Wolfe Research assumed coverage on Corning in a report on Tuesday, July 8th. They set an "outperform" rating on the stock. Argus reiterated a "buy" rating and issued a $68.00 price objective on shares of Corning in a research report on Wednesday, July 30th. Wall Street Zen downgraded Corning from a "strong-buy" rating to a "hold" rating in a research report on Saturday, September 13th. Barclays raised their target price on Corning from $52.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. Finally, Citigroup lifted their price objective on Corning from $72.00 to $93.00 and gave the company a "buy" rating in a research report on Wednesday. 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 company's stock. According to MarketBeat.com, Corning currently has a consensus rating of "Moderate Buy" and an average price target of $70.08.

Insider Buying and Selling at Corning

In other news, COO Avery H. Nelson III sold 36,240 shares of the stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $62.26, for a total value of $2,256,302.40. Following the completion of the transaction, the chief operating officer owned 64,838 shares of the company's stock, valued at approximately $4,036,813.88. This represents a 35.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jaymin Amin sold 17,721 shares of the stock in a transaction dated 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 transaction, the senior vice president directly owned 88,722 shares of the company's stock, valued at $6,847,563.96. This trade represents a 16.65% 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 three months. 0.40% of the stock is owned by insiders.

Corning Stock Performance

NYSE GLW opened at $79.33 on Friday. Corning Incorporated has a 1 year low of $37.31 and a 1 year high of $81.58. The firm has a market capitalization of $67.96 billion, a P/E ratio of 84.39, a price-to-earnings-growth ratio of 1.77 and a beta of 1.09. The firm's fifty day moving average price is $68.01 and its two-hundred day moving average price is $54.67. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same period in the previous year, the company earned $0.47 earnings per share. 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 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.

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