Corning (NYSE:GLW) Shares Gap Up – Should You Buy?

Corning Incorporated (NYSE:GLW) gapped up prior to trading on Thursday . The stock had previously closed at $184.03, but opened at $201.75. Corning shares last traded at $202.3740, with a volume of 2,721,137 shares changing hands.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GLW shares. Wall Street Zen lowered Corning from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Truist Financial increased their price objective on Corning from $149.00 to $205.00 and gave the company a “hold” rating in a research note on Monday, June 22nd. Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Morgan Stanley set a $180.00 price target on shares of Corning in a report on Friday, May 8th. Finally, UBS Group set a $243.00 price target on shares of Corning in a report on Monday. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Corning currently has an average rating of “Moderate Buy” and an average price target of $193.54.

Corning Trading Up 7.4%

The firm has a market cap of $170.07 billion, a P/E ratio of 94.43, a PEG ratio of 2.43 and a beta of 1.09. The firm’s fifty day moving average is $191.61 and its two-hundred day moving average is $148.94. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period in the prior year, the business earned $0.54 EPS. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Analysts predict that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st 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 Monday, August 31st. Corning’s dividend payout ratio is presently 53.59%.

Insider Buying and Selling

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the sale, the senior vice president directly owned 10,174 shares in the company, valued at $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction that occurred 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 sale, the chief executive officer directly owned 908,353 shares in the company, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 160,655 shares of company stock valued at $30,692,560 over the last quarter. 0.25% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Corning

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Corning by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker’s stock worth $8,693,247,000 after purchasing an additional 580,678 shares in the last quarter. State Street Corp grew its position in shares of Corning by 1.2% in the 3rd quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock worth $3,035,836,000 after buying an additional 439,883 shares during the period. Geode Capital Management LLC increased its stake in shares of Corning by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker’s stock worth $1,781,250,000 after acquiring an additional 517,067 shares in the last quarter. Capital Research Global Investors lifted its position in Corning by 52.7% during the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock valued at $1,478,959,000 after acquiring an additional 5,831,873 shares during the period. Finally, Wellington Management Group LLP boosted its stake in Corning by 30.3% during the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock worth $1,358,211,000 after acquiring an additional 3,848,540 shares in the last quarter. 69.80% of the stock is currently 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.