J. Safra Sarasin Holding AG Sells 39,556 Shares of Corning Incorporated $GLW

Key Points

• J. Safra Sarasin Holding AG reduced its stake in Corning Incorporated by 86.8%, selling 39,556 shares and holding 6,000 shares valued at $316,000 at the end of the reporting period.
• Several large investors, including TFG Advisers LLC and ASR Vermogensbeheer N.V., increased their holdings in Corning during the same quarter.
• Analysts have mixed ratings for Corning, with one labeling it a Strong Buy and others adjusting their price targets, with a consensus target of $71.42.

J. Safra Sarasin Holding AG lessened its holdings in shares of Corning Incorporated (NYSE:GLW - Free Report) by 86.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 6,000 shares of the electronics maker's stock after selling 39,556 shares during the period. J. Safra Sarasin Holding AG's holdings in Corning were worth $316,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. TFG Advisers LLC grew its holdings in shares of Corning by 5.8% during the second quarter. TFG Advisers LLC now owns 22,439 shares of the electronics maker's stock worth $1,180,000 after purchasing an additional 1,229 shares during the last quarter. ASR Vermogensbeheer N.V. grew its holdings in shares of Corning by 16.9% during the second quarter. ASR Vermogensbeheer N.V. now owns 52,899 shares of the electronics maker's stock worth $2,782,000 after purchasing an additional 7,651 shares during the last quarter. AMI Asset Management Corp bought a new position in Corning in the second quarter valued at about $871,000. Northstar Group Inc. bought a new position in Corning in the second quarter valued at about $319,000. Finally, Pure Financial Advisors LLC boosted its holdings in Corning by 3.3% in the second quarter. Pure Financial Advisors LLC now owns 9,099 shares of the electronics maker's stock valued at $479,000 after acquiring an additional 289 shares during the last quarter. Institutional investors own 69.80% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on GLW. Argus reiterated a "buy" rating and issued a $68.00 price target on shares of Corning in a report on Wednesday, July 30th. Wolfe Research began coverage on Corning in a report on Tuesday, July 8th. They issued an "outperform" rating on the stock. Wall Street Zen cut Corning from a "strong-buy" rating to a "hold" rating in a report on Saturday, September 13th. Mizuho raised their price target on Corning from $74.00 to $90.00 and gave the company an "outperform" rating in a report on Friday. Finally, Oppenheimer reiterated an "outperform" rating and issued a $72.00 price target (up previously from $55.00) on shares of Corning in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Corning currently has a consensus rating of "Moderate Buy" and a consensus price target of $71.42.

Corning Price Performance

Shares of GLW opened at $83.60 on Friday. 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 Incorporated has a 1 year low of $37.31 and a 1 year high of $84.35. The stock has a market cap of $71.62 billion, a P/E ratio of 88.94, a price-to-earnings-growth ratio of 1.86 and a beta of 1.14. The stock's 50-day moving average price is $70.74 and its two-hundred day moving average price is $55.96.

Corning (NYSE:GLW - Get Free Report) last issued its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, topping 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 last year, the business earned $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, equities analysts predict that Corning Incorporated will post 2.33 earnings per share for the current year.

Insider Activity at Corning

In other news, EVP Lewis A. Steverson sold 16,646 shares of the firm's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.22, for a total transaction of $1,035,714.12. Following the sale, the executive vice president owned 39,759 shares of the company's stock, valued at $2,473,804.98. This trade represents a 29.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michael Paul O'day sold 14,879 shares of the firm's stock in a transaction dated Wednesday, July 30th. The stock was 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. This represents 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 90 days. Insiders own 0.40% of the company's stock.

Corning 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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