Corning Incorporated $GLW Shares Sold by UNIVEST FINANCIAL Corp

Key Points

• UNIVEST FINANCIAL Corp cut its Corning stake by 21.3% in the first quarter, selling 6,047 shares and leaving it with 22,407 shares worth about $3.05 million.
• Corning is drawing attention from AI infrastructure deals, including a multibillion-dollar agreement with Amazon to expand U.S. optical fiber production and a partnership with Nvidia to boost domestic advanced optical manufacturing.
• The company recently posted strong quarterly results, with revenue up 18.1% year over year and EPS slightly ahead of estimates, while analysts maintain a Moderate Buy consensus and a target price around $193.54.

UNIVEST FINANCIAL Corp decreased its position in Corning Incorporated (NYSE:GLW - Free Report) by 21.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 22,407 shares of the electronics maker's stock after selling 6,047 shares during the period. UNIVEST FINANCIAL Corp's holdings in Corning were worth $3,047,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Berbice Capital Management LLC bought a new position in shares of Corning during the 4th quarter worth about $26,000. Basepoint Wealth LLC bought a new position in Corning in the 4th quarter valued at $26,000. MBM Wealth Consultants LLC bought a new stake in shares of Corning during the first quarter worth approximately $42,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Corning in the 4th quarter valued at approximately $27,000. Finally, Litman Gregory Wealth Management LLC acquired a new stake in Corning during the 4th quarter worth $31,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines Impacting Corning

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning landed a major multibillion-dollar agreement with Amazon to expand U.S. optical fiber production for AI data centers, and it is also partnering with Nvidia to grow domestic manufacturing capacity for advanced optical solutions. The deals reinforce Corning’s position as a key supplier in AI infrastructure. Corning (GLW) Lands Amazon Deal And Nvidia Tie Up For AI Fiber Expansion
• Positive Sentiment: Recent bullish commentary says Corning’s fundamentals remain strong, citing 18% core sales growth and 30% core EPS growth in Q1, along with momentum in Optical Communications and its Solar segment. Analysts are pointing to AI-driven fiber demand as a potential catalyst for further earnings growth. Corning: AI Partnerships Mounting, Making The 30% Plunge Buyable
• Neutral Sentiment: Market-moving articles from Barron’s also flagged Corning as one of the notable stocks in the day’s AI-driven market move, reflecting renewed investor attention rather than a company-specific earnings surprise. Stock movers article
• Neutral Sentiment: One bearish note argues that Corning may not be cheap enough after the recent pullback, suggesting valuation remains a concern even with improving growth prospects. Corning: 30 Percent Cheaper Is Not Good Enough
• Negative Sentiment: Another valuation-focused article describes Corning as having “strong fundamentals” but an “unverifiable multiple,” reinforcing concerns that the stock’s premium could limit upside if AI growth fails to accelerate further. Corning: Strong Fundamentals Wrapped In An Unverifiable Multiple

Insider Activity at Corning

In related news, SVP Jaymin Amin sold 27,395 shares of the business'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 transaction, the senior vice president owned 94,400 shares in the company, valued at $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michaune D. Tillman sold 3,260 shares of the company's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the completion of the sale, the senior vice president directly owned 10,174 shares in the company, valued at $2,106,221.48. This represents a 24.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 160,655 shares of company stock valued at $30,692,560 in the last quarter. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GLW has been the topic of a number of recent research reports. Barclays boosted their price objective on shares of Corning from $149.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Friday, May 8th. Oppenheimer upped their target price on Corning from $210.00 to $230.00 and gave the stock an "outperform" rating in a report on Tuesday, July 7th. Morgan Stanley set a $180.00 price target on shares of Corning in a report on Friday, May 8th. Zacks Research downgraded Corning from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Corning in a report on Friday, May 15th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Corning currently has a consensus rating of "Moderate Buy" and a consensus target price of $193.54.

Corning Price Performance

GLW traded down $1.26 during trading on Friday, reaching $191.12. 5,343,797 shares of the company were exchanged, compared to its average volume of 16,352,928. The company's 50-day moving average is $193.19 and its two-hundred day moving average is $149.96. The company has a market cap of $164.49 billion, a price-to-earnings ratio of 91.45, a P/E/G ratio of 2.50 and a beta of 1.09. 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 Incorporated has a 12-month low of $51.32 and a 12-month high of $271.78.

Corning (NYSE:GLW - Get Free Report) last announced its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. Corning's revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Research analysts forecast that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. Corning's payout ratio is presently 53.59%.

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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