Corning (NYSE:GLW) Stock Falls 3.2% - Time to Sell?

Key Points

• Corning shares fell 3.2% to about $158.92 in Monday trading, below the stock’s 200-day moving average of $167.75.
• Analysts remain broadly positive, with 12 Buy ratings and seven Holds producing a “Moderate Buy” consensus and an average price target of $174.87, despite several recent target reductions.
• Corning exceeded quarterly expectations with $0.78 in EPS and $4.74 billion in revenue, up 17.1% year over year; however, an executive recently sold 13,100 shares, while institutional investors own 69.8% of the stock.

Corning Incorporated (NYSE:GLW - Get Free Report)'s stock price traded down 3.2% on Monday. The company traded as low as $158.44 and last traded at $158.9160. 6,399,112 shares were traded during mid-day trading, a decline of 47% from the average session volume of 12,140,209 shares. The stock had previously closed at $164.19.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GLW. UBS Group upped their target price on shares of Corning from $196.00 to $201.00 and gave the stock a "buy" rating in a research report on Monday. Citigroup dropped their price objective on shares of Corning from $240.00 to $220.00 and set a "buy" rating for the company in a research report on Wednesday, July 29th. The Goldman Sachs Group reaffirmed an "outperform" rating on shares of Corning in a research note on Tuesday, September 15th. Mizuho decreased their price target on Corning from $210.00 to $180.00 and set an "outperform" rating on the stock in a report on Tuesday, September 15th. Finally, Oppenheimer lowered their price objective on Corning from $230.00 to $200.00 and set an "outperform" rating for the company in a research report on Wednesday, July 29th. Twelve research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $174.87.

Corning Stock Performance

The firm has a market cap of $136.89 billion, a price-to-earnings ratio of 72.56, a price-to-earnings-growth ratio of 2.09 and a beta of 1.13. The stock has a 50-day moving average of $153.10 and a 200-day moving average of $167.75. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.76 by $0.02. The firm had revenue of $4.74 billion during the quarter, compared to analysts' expectations of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The business's quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, analysts anticipate that Corning Incorporated will post 3.28 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Lewis Steverson sold 13,100 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $151.29, for a total value of $1,981,899.00. Following the completion of the transaction, the executive vice president owned 15,052 shares of the company's stock, valued at approximately $2,277,217.08. This represents a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

Institutional Trading of Corning

Institutional investors and hedge funds have recently bought and sold shares of the stock. Baker Tilly Wealth Management LLC boosted its position in shares of Corning by 80.1% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 3,771 shares of the electronics maker's stock valued at $580,000 after purchasing an additional 1,677 shares in the last quarter. Ferguson Wellman Capital Management Inc. increased its holdings in Corning by 10.1% in the third quarter. Ferguson Wellman Capital Management Inc. now owns 17,458 shares of the electronics maker's stock worth $2,684,000 after purchasing an additional 1,596 shares in the last quarter. Eastern Bank lifted its stake in Corning by 1.2% in the third quarter. Eastern Bank now owns 7,958 shares of the electronics maker's stock valued at $1,224,000 after buying an additional 98 shares during the period. Polaris Financial Partners acquired a new position in Corning in the third quarter valued at approximately $152,000. Finally, First Financial Bank Trust Division boosted its holdings in shares of Corning by 3.3% during the 3rd quarter. First Financial Bank Trust Division now owns 92,114 shares of the electronics maker's stock worth $14,163,000 after buying an additional 2,964 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

About Corning

Corning Incorporated NYSE: GLW is a global materials science and technology company headquartered in Corning, New York. Founded in 1851, the company develops specialized glass, ceramics and optical technologies for customers in the communications, consumer electronics, automotive, life sciences and industrial markets.

Its Optical Communications segment supplies fiber, cable, hardware and related solutions used in telecommunications and data center networks. Corning also produces glass substrates for flat-panel displays, including televisions, monitors and other electronic devices, as well as specialty cover glass such as Gorilla Glass for mobile devices and other consumer electronics.

Additional products include automotive emissions-control substrates and filters, pharmaceutical and laboratory glassware, and advanced glass and ceramic materials used in semiconductor, aerospace, environmental and other applications.

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