Soumya Seetharam Sells 20,000 Shares of Corning (NYSE:GLW) Stock

Key Points

• Corning SVP Soumya Seetharam sold 20,000 shares on May 11 at an average price of $206.23, totaling about $4.12 million and cutting her ownership by 43.89%.
• GLW stock fell 4.4% in the session described, even after trading near its 52-week high and on unusually heavy volume.
• Corning beat quarterly expectations with EPS of $0.70 on revenue of $4.35 billion, and it also announced a quarterly dividend of $0.28 per share payable June 29.

Corning Incorporated (NYSE:GLW - Get Free Report) SVP Soumya Seetharam sold 20,000 shares of the business's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $206.23, for a total value of $4,124,600.00. Following the completion of the transaction, the senior vice president directly owned 25,570 shares of the company's stock, valued at approximately $5,273,301.10. The trade was a 43.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Corning Stock Down 4.4%

Shares of GLW traded down $9.16 during trading hours on Tuesday, hitting $198.23. The company had a trading volume of 22,976,592 shares, compared to its average volume of 11,900,629. The company has a market capitalization of $170.60 billion, a PE ratio of 94.85, a price-to-earnings-growth ratio of 2.68 and a beta of 1.14. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. Corning Incorporated has a one year low of $46.77 and a one year high of $208.92. The company's fifty day moving average price is $152.13 and its two-hundred day moving average price is $116.67.

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

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning's payout ratio is presently 53.59%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Merit Financial Group LLC boosted its stake in shares of Corning by 16.9% in the fourth quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker's stock worth $3,940,000 after buying an additional 6,493 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ boosted its stake in shares of Corning by 4.9% in the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 261,749 shares of the electronics maker's stock worth $21,471,000 after buying an additional 12,297 shares during the last quarter. Hartline Investment Corp boosted its stake in shares of Corning by 113.2% in the third quarter. Hartline Investment Corp now owns 295,362 shares of the electronics maker's stock worth $24,229,000 after buying an additional 156,843 shares during the last quarter. Three Seasons Wealth LLC purchased a new stake in shares of Corning in the fourth quarter worth about $1,750,000. Finally, Natixis Advisors LLC boosted its stake in shares of Corning by 32.1% in the third quarter. Natixis Advisors LLC now owns 479,921 shares of the electronics maker's stock worth $39,367,000 after buying an additional 116,583 shares during the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Corning

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning was highlighted as a potential winner from massive AI data center growth, with demand for optical components expected to support revenue and earnings. 3 Optical Component Giants in Focus on Massive AI Data Center Growth
• Positive Sentiment: Mizuho raised its price target on Corning to $220 from $190 and kept an outperform rating, signaling confidence in further upside. Benzinga report on Mizuho price target increase
• Positive Sentiment: Recent coverage said Corning’s rally is being driven by a stronger long-term outlook tied to AI infrastructure spending, expanded U.S. manufacturing, and photonics growth plans. Corning Surges 137.4% Year to Date: How to Play the Stock
• Neutral Sentiment: The stock also saw unusually heavy call-option activity, which suggests traders are betting on more upside, but this is more a signal of sentiment than a fundamental catalyst.
• Negative Sentiment: Analysts also noted risks from competition and cyclical end markets, which could pressure results if AI-related demand slows or broader industrial demand weakens.

Analysts Set New Price Targets

Several research analysts recently issued reports on GLW shares. Morgan Stanley set a $180.00 target price on Corning in a research report on Friday. JPMorgan Chase & Co. upped their target price on Corning from $175.00 to $185.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. UBS Group upped their target price on Corning from $179.00 to $223.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Susquehanna upped their target price on Corning from $125.00 to $180.00 and gave the company a "positive" rating in a research report on Wednesday, April 29th. Finally, Citigroup upped their target price on Corning from $175.00 to $225.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $177.92.

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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