Corning (NYSE:GLW) Shares Down 3.5% – Should You Sell?

Corning Incorporated (NYSE:GLW)’s stock price dropped 3.5% on Wednesday. The company traded as low as $161.79 and last traded at $163.1160. 5,165,366 shares changed hands during trading, a decline of 57% from the average session volume of 12,088,005 shares. The stock had previously closed at $168.97.

Trending Headlines about Corning

Here are the key news stories impacting Corning this week:

• Positive Sentiment: AI-related demand for optical communications components, expanding backlogs and data-center network investment are being cited as potential catalysts for Corning’s future growth. Zacks identifies GLW as a beneficiary of the AI communications-component rally. Zacks AI communications component analysis
• Positive Sentiment: Truist raised its price target for Corning from $175 to $182, signaling increased confidence in the company’s outlook and providing a favorable valuation reference for investors. Truist price-target increase
• Positive Sentiment: Zacks argues that Corning’s optical growth, major data-center agreements and strong solar sales could support longer-term earnings expansion, despite valuation concerns. Zacks Corning growth outlook
• Positive Sentiment: Corning declared a quarterly dividend of $0.28 per share, equivalent to $1.12 annually and a roughly 0.7% yield. The payout reinforces shareholder returns, although the yield is modest. Corning dividend announcement

Wall Street Analyst Weigh In

GLW has been the subject of several research reports. Bank of America lifted their price target on shares of Corning from $223.00 to $243.00 and gave the company a “buy” rating in a report on Monday, July 6th. JPMorgan Chase & Co. cut their target price on shares of Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, July 29th. Sanford C. Bernstein started coverage on Corning in a research note on Wednesday, September 30th. They issued a “market perform” rating and a $140.00 target price for the company. Citigroup lowered their target price on Corning from $240.00 to $220.00 and set a “buy” rating for the company in a report on Wednesday, July 29th. Finally, The Goldman Sachs Group reiterated an “outperform” rating on shares of Corning in a research report on Tuesday, September 15th. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Corning has a consensus rating of “Moderate Buy” and an average price target of $174.87.

Corning Trading Up 2.9%

The firm has a market capitalization of $135.41 billion, a P/E ratio of 71.81, a PEG ratio of 2.08 and a beta of 1.13. The business’s 50 day moving average is $155.41 and its two-hundred day moving average is $168.64. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59.

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

Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 13th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.12 annualized dividend and a yield of 0.7%. Corning’s dividend payout ratio (DPR) is currently 51.14%.

Insider Transactions at Corning

In other Corning news, EVP Lewis Steverson sold 13,100 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $151.29, for a total value of $1,981,899.00. Following the sale, the executive vice president directly owned 15,052 shares in the company, valued at approximately $2,277,217.08. The trade was a 46.53% decrease in their ownership of the stock. The sale 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 insiders.

Hedge Funds Weigh In On Corning

Several large investors have recently made changes to their positions in GLW. Bank of New York Mellon Corp bought a new stake in Corning during the second quarter worth approximately $1,510,911,000. State Street Corp lifted its position in shares of Corning by 13.4% during the 2nd quarter. State Street Corp now owns 41,108,384 shares of the electronics maker’s stock valued at $10,500,315,000 after acquiring an additional 4,845,027 shares during the last quarter. Legal & General Group Plc bought a new stake in shares of Corning during the 2nd quarter worth $1,212,283,000. Wellington Management Group LLP boosted its stake in shares of Corning by 50.9% during the 2nd quarter. Wellington Management Group LLP now owns 13,174,194 shares of the electronics maker’s stock worth $3,365,084,000 after acquiring an additional 4,446,514 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Corning by 29.2% during the second quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker’s stock worth $4,784,361,000 after purchasing an additional 4,231,507 shares during the period. Institutional investors own 69.80% of the company’s stock.

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.