NewEdge Advisors LLC Acquires 14,829 Shares of Corning Incorporated $GLW

Key Points

• NewEdge Advisors increased its Corning stake by 13.5% in the second quarter, purchasing 14,829 shares and bringing its holdings to 124,723 shares valued at approximately $31.9 million. Institutional investors collectively own 69.8% of Corning.
• Corning secured a multiyear, multibillion-dollar agreement with Verizon covering more than 80 million miles of optical fiber and connectivity solutions from 2027 through 2032, strengthening long-term visibility amid growing broadband and AI-network demand.
• Corning’s latest quarter exceeded expectations, with revenue up 17.1% year over year and EPS of $0.78 versus the $0.76 consensus. However, its elevated valuation—about 77 times earnings—and recent insider selling present execution and downside risks; analysts maintain a “Moderate Buy” consensus with a $178.64 average price target.

NewEdge Advisors LLC grew its holdings in Corning Incorporated (NYSE:GLW - Free Report) by 13.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 124,723 shares of the electronics maker's stock after buying an additional 14,829 shares during the quarter. NewEdge Advisors LLC's holdings in Corning were worth $31,858,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Alliance Wealth Advisors LLC lifted its stake in Corning by 1.4% in the second quarter. Alliance Wealth Advisors LLC now owns 4,045 shares of the electronics maker's stock worth $1,033,000 after acquiring an additional 56 shares during the period. Ares Financial Consulting LLC raised its holdings in Corning by 15.6% in the 2nd quarter. Ares Financial Consulting LLC now owns 444 shares of the electronics maker's stock worth $113,000 after purchasing an additional 60 shares in the last quarter. Signature Equity Partners LLC raised its holdings in Corning by 19.3% in the 1st quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker's stock worth $52,000 after purchasing an additional 62 shares in the last quarter. Beirne Wealth Consulting Services LLC lifted its position in shares of Corning by 0.8% in the 1st quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker's stock worth $1,094,000 after purchasing an additional 64 shares during the period. Finally, Balefire LLC lifted its position in shares of Corning by 0.7% in the 1st quarter. Balefire LLC now owns 9,595 shares of the electronics maker's stock worth $1,305,000 after purchasing an additional 65 shares during the period. 69.80% of the stock is currently owned by institutional investors.

Corning News Summary

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning and Verizon signed a multi-year, multi-billion-dollar agreement covering more than 80 million miles of high-density optical fiber and connectivity solutions from 2027 through 2032. The deal provides longer-term revenue visibility and supports Verizon’s broadband expansion and AI-related network investments. Verizon signs optical fiber deal with Corning to expand broadband, support AI growth
• Positive Sentiment: The Verizon contract adds to Corning’s previously announced relationships with Meta, Amazon and NVIDIA, reinforcing the view that optical communications is becoming a key growth engine as data-center and AI network demand expands. Verizon and Corning Just Signed an 80 Million Mile Fiber Deal to Wire the AI Boom
• Positive Sentiment: Analyst sentiment also improved, with China Renaissance upgrading GLW from “hold” to “buy” and assigning a $238 price target. Optical-infrastructure stocks broadly rallied alongside Corning. Optical Stocks Surge as Corning Inks Multibillion-Dollar Supply Deal With Verizon
• Neutral Sentiment: The agreement extends Corning’s long-standing relationship with Verizon, but deliveries do not begin until 2027. The near-term financial impact will therefore depend on existing backlogs and current demand. Corning’s latest reported quarter showed 17.1% year-over-year revenue growth and earnings above consensus.
• Negative Sentiment: After the sharp rally, valuation and execution risks are more significant. Corning trades at an elevated earnings multiple, leaving less room for disappointment from manufacturing delays, weaker communications demand or a broader pullback in AI-related stocks. Recent insider activity also showed sales rather than purchases by several executives.

Corning Trading Up 1.6%

NYSE:GLW opened at $168.66 on Thursday. Corning Incorporated has a one year low of $72.72 and a one year high of $271.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. The company's 50-day simple moving average is $159.88 and its 200 day simple moving average is $166.07. The firm has a market capitalization of $145.28 billion, a P/E ratio of 77.01, a PEG ratio of 2.12 and a beta of 1.16.

Corning (NYSE:GLW - Get Free Report) last announced its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter last year, the firm earned $0.60 earnings per share. The business's revenue for the quarter was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, analysts forecast that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. Corning's payout ratio is presently 51.14%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GLW. China Renaissance upgraded shares of Corning from a "hold" rating to a "buy" rating and set a $238.00 price target on the stock in a research report on Tuesday. Citigroup lowered their price objective on shares of Corning from $240.00 to $220.00 and set a "buy" rating for the company in a report on Wednesday, July 29th. Wall Street Zen cut Corning from a "buy" rating to a "hold" rating in a research report on Monday, August 24th. Morgan Stanley reduced their target price on Corning from $180.00 to $165.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 29th. Finally, Weiss Ratings cut Corning from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, August 21st. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Corning has an average rating of "Moderate Buy" and an average price target of $178.64.

Insider Transactions at Corning

In other Corning news, EVP Lewis Steverson sold 13,100 shares of the business's stock in a transaction on Friday, August 28th. The stock was sold at an average price of $151.29, for a total value of $1,981,899.00. Following the sale, the executive vice president directly owned 15,052 shares of the company's stock, valued at approximately $2,277,217.08. The trade was a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.25% of the company's stock.

Corning Profile

Corning Incorporated NYSE: GLW is a global materials science and technology company that develops specialty glass, ceramics and optical fiber products. Founded in 1851 and headquartered in Corning, New York, the company combines expertise in glass science, ceramics science, optical physics and manufacturing to serve communications, consumer electronics, automotive, life sciences and other industrial markets.

Corning's products include optical fiber, cable and hardware used in telecommunications networks; cover glass and other components for mobile devices, laptops and other electronics; display glass for televisions and computer monitors; emissions-control products for automobiles and trucks; laboratory vessels and equipment; and specialty glass and ceramic products for industrial, semiconductor and aerospace applications.

The company serves customers worldwide through manufacturing, research and commercial operations across North America, Europe and Asia.

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