Corning (NYSE:GLW) Stock Price Down 8.7% – Time to Sell?

Corning Incorporated (NYSE:GLW) shares dropped 8.7% during trading on Tuesday . The stock traded as low as $187.04 and last traded at $191.4920. 2,716,794 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 12,125,813 shares. The stock had previously closed at $209.83.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GLW. Zacks Research cut shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Wall Street Zen downgraded shares of Corning from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Barclays lifted their target price on shares of Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Truist Financial boosted their target price on shares of Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research note on Monday. Finally, UBS Group upped their price target on shares of Corning from $223.00 to $228.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.62.

Corning Stock Performance

The company has a market cap of $164.66 billion, a price-to-earnings ratio of 91.59, a PEG ratio of 2.79 and a beta of 1.15. The firm’s 50 day simple moving average is $181.42 and its 200-day simple moving average is $138.52. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period 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. On average, sell-side analysts predict that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning’s dividend payout ratio (DPR) is 53.59%.

Insider Buying and Selling at Corning

In related news, SVP Soumya Seetharam sold 20,000 shares of the stock in a transaction that occurred 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 sale, the senior vice president owned 25,570 shares of the company’s stock, valued at approximately $5,273,301.10. This trade represents a 43.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $198.34, for a total value of $1,983,400.00. Following the transaction, the vice president owned 5,138 shares in the company, valued at approximately $1,019,070.92. The trade was a 66.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is owned by company insiders.

Institutional Trading of Corning

A number of hedge funds and other institutional investors have recently modified their holdings of GLW. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of Corning during the 3rd quarter valued at about $25,000. Berbice Capital Management LLC purchased a new stake in shares of Corning in the fourth quarter valued at about $26,000. Basepoint Wealth LLC acquired a new stake in Corning during the fourth quarter worth about $26,000. Kemnay Advisory Services Inc. acquired a new stake in Corning during the fourth quarter worth about $27,000. Finally, Litman Gregory Wealth Management LLC purchased a new position in Corning during the fourth quarter worth about $31,000. 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.