Corning (NYSE:GLW) Shares Down 3.2% – Time to Sell?

Corning Incorporated (NYSE:GLW)’s stock price fell 3.2% during trading on Monday. The company traded as low as $158.44 and last traded at $158.9160. Approximately 6,399,112 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 12,140,209 shares. The stock had previously closed at $164.19.

Wall Street Analyst Weigh In

GLW has been the subject of a number of analyst reports. The Goldman Sachs Group reiterated an “outperform” rating on shares of Corning in a research note on Tuesday, September 15th. Truist Financial increased their price target on shares of Corning from $175.00 to $182.00 and gave the stock a “buy” rating in a research note on Friday, October 2nd. Morgan Stanley cut their price target on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Weiss Ratings downgraded shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 21st. Finally, UBS Group lifted their price objective on shares of Corning from $196.00 to $201.00 and gave the company a “buy” rating in a research note on Monday. Twelve analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.87.

Corning Trading Up 6.1%

The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average price of $154.28 and a 200-day moving average price of $168.23. The company has a market capitalization of $145.63 billion, a price-to-earnings ratio of 77.20, a P/E/G ratio of 2.03 and a beta of 1.13.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.02. The business had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The firm’s revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Research analysts predict that Corning Incorporated will post 3.28 EPS for the current fiscal year.

Insider Activity at Corning

In other news, EVP Lewis Steverson sold 13,100 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $151.29, for a total value of $1,981,899.00. Following the completion of the sale, the executive vice president directly owned 15,052 shares of the company’s stock, valued at approximately $2,277,217.08. This represents a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by company insiders.

Institutional Trading of Corning

A number of hedge funds have recently bought and sold shares of the stock. Nautilus Advisors LLC grew its position in Corning by 4.4% in the 3rd quarter. Nautilus Advisors LLC now owns 6,070 shares of the electronics maker’s stock worth $933,000 after purchasing an additional 255 shares during the last quarter. Byrne Asset Management LLC raised its position in shares of Corning by 1.2% during the third quarter. Byrne Asset Management LLC now owns 18,233 shares of the electronics maker’s stock valued at $2,925,000 after buying an additional 214 shares during the last quarter. Legacy Private Trust Co. raised its position in shares of Corning by 7.4% during the third quarter. Legacy Private Trust Co. now owns 17,108 shares of the electronics maker’s stock valued at $2,631,000 after buying an additional 1,183 shares during the last quarter. Rosenberg Matthew Hamilton lifted its stake in shares of Corning by 97.6% in the third quarter. Rosenberg Matthew Hamilton now owns 1,476 shares of the electronics maker’s stock valued at $227,000 after buying an additional 729 shares during the period. Finally, Baker Tilly Wealth Management LLC lifted its stake in shares of Corning by 80.1% in the third quarter. Baker Tilly Wealth Management LLC now owns 3,771 shares of the electronics maker’s stock valued at $580,000 after buying an additional 1,677 shares during the period. 69.80% of the stock is owned by institutional investors.

About Corning

Corning Incorporated (NYSE: GLW) is a global materials science and technology company headquartered in Corning, New York. Founded in 1851, the company develops specialized glass, ceramics and optical technologies for customers in the communications, consumer electronics, automotive, life sciences and industrial markets.

Its Optical Communications segment supplies fiber, cable, hardware and related solutions used in telecommunications and data center networks. Corning also produces glass substrates for flat-panel displays, including televisions, monitors and other electronic devices, as well as specialty cover glass such as Gorilla Glass for mobile devices and other consumer electronics.

Additional products include automotive emissions-control substrates and filters, pharmaceutical and laboratory glassware, and advanced glass and ceramic materials used in semiconductor, aerospace, environmental and other applications.