Corning (NYSE:GLW) Stock Price Up 13.5% – Time to Buy?

Corning Incorporated (NYSE:GLW)’s share price rose 13.5% on Tuesday . The stock traded as high as $178.84 and last traded at $200.2790. Approximately 10,869,678 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 14,848,574 shares. The stock had previously closed at $176.4460.

Analysts Set New Price Targets

GLW has been the topic of several research reports. Morgan Stanley set a $180.00 price objective on shares of Corning in a research note on Friday, May 8th. Truist Financial upped their price objective on shares of Corning from $125.00 to $149.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Barclays raised their target price on shares of Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. Finally, Oppenheimer raised their target price on shares of Corning from $120.00 to $210.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Ten 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $177.92.

Corning Trading Up 13.5%

The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The business’s fifty day simple moving average is $168.33 and its two-hundred day simple moving average is $127.49. The stock has a market capitalization of $172.37 billion, a P/E ratio of 95.83, a P/E/G ratio of 2.59 and a beta of 1.14.

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

Corning Dividend Announcement

The business also recently declared 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 of this dividend is Friday, May 29th. This represents a $1.12 dividend on an annualized basis and a yield of 0.6%. Corning’s dividend payout ratio is 53.59%.

Insider Activity at Corning

In other news, VP John Z. Zhang sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the transaction, the vice president directly owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. This trade represents a 66.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the transaction, the senior vice president directly owned 10,174 shares of the company’s stock, valued at $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 60,655 shares of company stock valued at $12,046,561 in the last quarter. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Corning

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of Corning during the 3rd quarter worth about $25,000. Berbice Capital Management LLC acquired a new stake in shares of Corning during the 4th quarter worth about $26,000. Basepoint Wealth LLC acquired a new stake in Corning in the 4th quarter valued at about $26,000. Strengthening Families & Communities LLC acquired a new stake in Corning in the 3rd quarter valued at about $27,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in Corning in the 4th quarter valued at about $27,000. 69.80% of the stock is owned by institutional investors.

Corning Company Profile

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.