Corning (NYSE:GLW) Shares Gap Up – Time to Buy?

Corning Incorporated (NYSE:GLW)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $177.58, but opened at $192.90. Corning shares last traded at $187.0990, with a volume of 2,983,738 shares trading hands.

Key Stories Impacting Corning

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning announced a multibillion-dollar, multiyear deal with Amazon to supply optical fiber, cable, and connectivity solutions for U.S. data centers, strengthening its position in AI and cloud infrastructure. Amazon, Corning sign multi-billion-dollar deal to boost fiber optics manufacturing in US
• Positive Sentiment: The deal is expected to expand Corning’s North Carolina manufacturing footprint and create about 1,000 jobs, which supports longer-term production capacity and customer demand. Amazon strikes multibillion-dollar deal with Corning to power AI data centers in U.S.
• Positive Sentiment: Analysts and commentators are pointing to Corning as a key beneficiary of the shift from copper to optical fiber in AI data centers, with demand from hyperscalers improving the company’s growth outlook. Corning Is Paving AI’s Future With Glass
• Positive Sentiment: Corning’s optical communications sales have been growing quickly, and the Amazon deal adds to a string of AI-related wins that could support margin expansion and earnings upgrades. Why Corning (GLW) Is Up 6.1% After Amazon’s Multiyear US Data Center Fiber Deal And What’s Next
• Neutral Sentiment: Corning CEO Wendell P. Weeks sold 100,000 shares, a routine insider sale that may raise some caution but does not necessarily change the company’s operating outlook. SEC Form 4

Analyst Upgrades and Downgrades

GLW has been the topic of a number of analyst reports. JPMorgan Chase & Co. upped their price target on Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Truist Financial increased their target price on Corning from $125.00 to $149.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. Weiss Ratings restated a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, UBS Group increased their target price on Corning from $223.00 to $228.00 and gave the stock a “buy” rating in a report on Friday. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $178.31.

Corning Stock Down 7.2%

The firm has a fifty day moving average price of $174.78 and a 200 day moving average price of $132.02. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The company has a market cap of $149.86 billion, a P/E ratio of 83.31, a PEG ratio of 2.68 and a beta of 1.15.

Corning (NYSE:GLW) last announced its 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 company had revenue of $4.35 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities research analysts forecast that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be paid a dividend of $0.28 per share. 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 dividend payout ratio is 53.59%.

Insider Buying and Selling at Corning

In other news, SVP Jaymin Amin sold 27,395 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the transaction, the senior vice president owned 94,400 shares of the company’s stock, valued at $18,138,016. This represents a 22.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the transaction, the chief executive officer directly owned 908,353 shares in the company, valued at $169,371,500.38. This trade represents a 9.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 160,655 shares of company stock valued at $30,692,561 over the last ninety days. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Corning

Several large investors have recently made changes to their positions in GLW. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of Corning during the third quarter valued at $25,000. Berbice Capital Management LLC acquired a new position in Corning in the fourth quarter valued at about $26,000. Basepoint Wealth LLC acquired a new position in Corning in the fourth quarter valued at about $26,000. Kemnay Advisory Services Inc. acquired a new position in Corning in the fourth quarter valued at about $27,000. Finally, Litman Gregory Wealth Management LLC acquired a new position in Corning in the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

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.