JPMorgan Chase & Co. Downgrades Corning (NYSE:GLW) to Neutral

Key Points

• JPMorgan downgraded Corning (GLW) from "overweight" to "neutral" and set a $175 target price, implying about a 4.09% upside from the prior close.
• The analyst picture is mixed—MarketBeat shows ten Buys and six Holds with a consensus of "Moderate Buy" and a consensus target of $136.69, while some banks have raised targets (Citigroup $170, Bank of America $155).
• Corning slightly beat Q results (EPS $0.72 vs $0.71; revenue $4.41B, +13.9% YoY) and guided Q1 EPS of $0.66–0.70; the stock trades near $168 with a high P/E (~91.4), and insiders sold about $32.6M of stock in the past three months.

Corning (NYSE:GLW - Get Free Report) was downgraded by JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating in a research report issued on Thursday, Marketbeat Ratings reports. They currently have a $175.00 target price on the electronics maker's stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 4.09% from the company's previous close.

GLW has been the subject of several other research reports. Bank of America upped their price target on shares of Corning from $144.00 to $155.00 and gave the stock a "buy" rating in a research report on Monday, March 23rd. Truist Financial initiated coverage on shares of Corning in a research report on Tuesday, March 31st. They issued a "hold" rating and a $125.00 target price on the stock. Citigroup boosted their target price on Corning from $120.00 to $170.00 and gave the company a "buy" rating in a research report on Wednesday, February 25th. Susquehanna lifted their target price on Corning from $100.00 to $125.00 and gave the company a "positive" rating in a research report on Thursday, January 29th. Finally, Fox Advisors lowered Corning from an "overweight" rating to an "equal weight" rating in a research report on Thursday, January 29th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Corning has a consensus rating of "Moderate Buy" and a consensus target price of $136.69.

Corning Trading Down 2.7%

GLW opened at $168.13 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. Corning has a 52 week low of $40.16 and a 52 week high of $176.75. The stock's fifty day moving average is $140.79 and its two-hundred day moving average is $106.82. The company has a market capitalization of $144.43 billion, a P/E ratio of 91.38, a PEG ratio of 2.71 and a beta of 1.06.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.01. The business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.35 billion. Corning had a net margin of 10.21% and a return on equity of 18.72%. The business's revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.57 earnings per share. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. Analysts forecast that Corning will post 2.33 earnings per share for the current year.

Insider Activity at Corning

In other news, COO Avery H. Nelson III sold 1,583 shares of the business's stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $128.74, for a total value of $203,795.42. Following the completion of the sale, the chief operating officer directly owned 59,788 shares in the company, valued at approximately $7,697,107.12. The trade was a 2.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP John Z. Zhang sold 1,531 shares of the firm'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 value of $204,771.25. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 233,201 shares of company stock valued at $32,614,558 over the last three months. Insiders own 0.25% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Berbice Capital Management LLC acquired a new stake in shares of Corning during the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC acquired a new position in Corning in the fourth quarter worth approximately $26,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in Corning in the third quarter worth approximately $25,000. Kemnay Advisory Services Inc. bought a new position in Corning during the fourth quarter valued at about $27,000. Finally, Strengthening Families & Communities LLC acquired a new position in Corning during the third quarter valued at approximately $27,000. 69.80% of the stock is owned by institutional investors and hedge funds.

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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