Corning (NYSE:GLW) Trading Down 13.6% – Should You Sell?

Corning Incorporated (NYSE:GLW)’s share price fell 13.6% on Wednesday . The company traded as low as $218.11 and last traded at $220.72. Approximately 22,058,585 shares changed hands during trading, an increase of 70% from the average daily volume of 12,962,962 shares. The stock had previously closed at $255.43.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on GLW shares. Citigroup increased their price objective on Corning from $175.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Oppenheimer upped their price target on shares of Corning from $120.00 to $210.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. UBS Group lifted their price target on Corning from $223.00 to $228.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Wall Street Zen cut Corning from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, Barclays upped 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. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Corning currently has an average rating of “Moderate Buy” and an average price target of $186.46.

Corning Price Performance

The firm has a market cap of $189.96 billion, a P/E ratio of 105.61, a P/E/G ratio of 3.66 and a beta of 1.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. The company has a 50-day moving average of $188.32 and a 200 day moving average of $144.39.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. The firm 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%. Corning’s revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, sell-side analysts anticipate 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 Tuesday, September 29th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.5%. Corning’s payout ratio is currently 53.59%.

Insider Buying and Selling at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the sale, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at $169,371,500.38. The trade was a 9.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Soumya Seetharam sold 20,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $206.23, for a total value of $4,124,600.00. Following the transaction, the senior vice president directly owned 25,570 shares of the company’s stock, valued at $5,273,301.10. This trade represents a 43.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 160,655 shares of company stock valued at $30,692,560 over the last quarter. 0.25% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Corning

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Eastern Bank boosted its stake in shares of Corning by 40.3% during the 2nd quarter. Eastern Bank now owns 7,860 shares of the electronics maker’s stock worth $2,008,000 after acquiring an additional 2,259 shares during the period. Roxbury Financial LLC bought a new position in shares of Corning in the second quarter valued at about $125,000. VectorGlobal IAG Inc. bought a new position in shares of Corning in the first quarter valued at about $1,124,000. Basecamp Wealth Advisors LLC grew its stake in Corning by 1.8% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 6,091 shares of the electronics maker’s stock valued at $828,000 after buying an additional 106 shares during the last quarter. Finally, Sapient Capital LLC raised its holdings in Corning by 4.4% in the 1st quarter. Sapient Capital LLC now owns 4,768 shares of the electronics maker’s stock valued at $648,000 after acquiring an additional 201 shares during the period. 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.