MGO One Seven LLC Increases Stake in Corning Incorporated $GLW

Key Points

• MGO One Seven LLC increased its Corning stake by 17.9% in the fourth quarter, ending with 87,994 shares worth about $7.7 million.
• Corning is drawing major investor and analyst attention because Nvidia is funding plant construction and taking an equity stake, which could expand Corning’s AI-related manufacturing business. Several analysts have also raised price targets and kept bullish ratings.
• The company recently beat earnings expectations, reporting $0.70 EPS on revenue of $4.35 billion, and it also announced a quarterly $0.28 dividend payable on June 29.

MGO One Seven LLC boosted its position in Corning Incorporated (NYSE:GLW - Free Report) by 17.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 87,994 shares of the electronics maker's stock after acquiring an additional 13,389 shares during the period. MGO One Seven LLC's holdings in Corning were worth $7,705,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of Corning by 46.0% in the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker's stock worth $319,000 after purchasing an additional 2,114 shares in the last quarter. Retirement Planning Co of New England Inc. purchased a new stake in shares of Corning during the 1st quarter valued at approximately $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Corning by 9.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker's stock valued at $2,962,000 after buying an additional 5,522 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Corning in the 2nd quarter worth approximately $401,000. Finally, Schnieders Capital Management LLC. bought a new position in Corning in the 2nd quarter worth approximately $266,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning News Summary

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Nvidia is funding Corning’s plant construction and taking an equity stake, signaling a long-term strategic partnership that could materially grow Corning’s AI-related manufacturing business. Nvidia funds construction of Corning plants, in addition to equity investment
• Positive Sentiment: Analysts have been raising price targets and keeping generally constructive ratings, with Citi, Oppenheimer, and others citing stronger growth prospects after Corning’s recent results and the Nvidia deal. Analysts Have Conflicting Sentiments on These Technology Companies: Coherent Corp (COHR), Corning (GLW) and Fortinet (FTNT)
• Neutral Sentiment: Corning is also drawing attention from media and commentators, including a Closing Bell appearance and bullish commentary from Jim Cramer, which may support sentiment but does not change fundamentals by itself. Corning Incorporated to ring the NYSE Closing Bell® on Thursday
• Neutral Sentiment: Some articles warn the stock may be getting extended after a huge one-year run, suggesting valuation risk could limit upside if AI enthusiasm cools. Is Corning (GLW) Getting Ahead Of Itself After A 311% One Year Surge?
• Negative Sentiment: JPMorgan’s relatively cautious view and neutral rating suggest some analysts still see limited near-term upside after the rally, even with the higher target. Corning price target raised by JPMorgan Chase & Co.

Insiders Place Their Bets

In related news, VP John Z. Zhang sold 1,531 shares of the company's stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $133.75, for a total transaction of $204,771.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Wendell P. Weeks sold 137,514 shares of the firm's stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $155.37, for a total value of $21,365,550.18. Following the completion of the sale, the chief executive officer directly owned 750,585 shares of the company's stock, valued at $116,618,391.45. The trade was a 15.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 177,256 shares of company stock worth $26,541,572. Insiders own 0.25% of the company's stock.

Corning Price Performance

Shares of NYSE:GLW opened at $186.47 on Friday. The company's fifty day moving average price is $150.46 and its 200-day moving average price is $115.11. The firm has a market capitalization of $160.48 billion, a price-to-earnings ratio of 89.22, a PEG ratio of 2.58 and a beta of 1.14. Corning Incorporated has a one year low of $44.83 and a one year high of $198.25. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. The firm had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company's quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities research analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be issued a $0.28 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.12 annualized dividend and a yield of 0.6%. Corning's dividend payout ratio (DPR) is 53.59%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GLW. Mizuho set a $145.00 target price on shares of Corning in a report on Monday, February 23rd. Truist Financial raised their price target on Corning from $125.00 to $149.00 and gave the stock a "hold" rating in a report on Wednesday, April 29th. Morgan Stanley set a $180.00 price target on Corning in a research report on Friday. UBS Group boosted their price objective on Corning from $179.00 to $223.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Oppenheimer raised their target price on Corning from $120.00 to $210.00 and gave the stock an "outperform" rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $172.15.

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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