Kingdon Capital Management L.L.C. Takes Position in Corning Incorporated $GLW

Kingdon Capital Management L.L.C. bought a new position in Corning Incorporated (NYSE:GLW) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 80,000 shares of the electronics maker’s stock, valued at approximately $6,562,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Corning by 0.8% in the third quarter. Vanguard Group Inc. now owns 98,702,639 shares of the electronics maker’s stock valued at $8,096,577,000 after acquiring an additional 750,530 shares in the last quarter. State Street Corp lifted its holdings in Corning by 1.4% during the second quarter. State Street Corp now owns 36,568,973 shares of the electronics maker’s stock worth $1,923,162,000 after acquiring an additional 509,013 shares during the period. Wellington Management Group LLP boosted its position in Corning by 30.3% in 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 purchasing an additional 3,848,540 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Corning by 8.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock valued at $724,432,000 after purchasing an additional 1,036,988 shares during the period. Finally, Capital Research Global Investors bought a new position in Corning in the 3rd quarter valued at $907,164,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

More Corning News

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Bank of America raised its price target to $144 and reiterated a “buy” rating, citing a potential ~$10.3B scale-out revenue opportunity that could drive meaningful upside. BofA price target raise
• Positive Sentiment: Corning expanded its AI data-center connectivity portfolio by licensing PRIZM TMT ferrule technology from US Conec, improving high-density optical connectivity for AI/GenAI networks — a direct catalyst for optical revenue growth. Zacks: Corning expands AI data center portfolio
• Positive Sentiment: Coverage consensus is supportive: analysts on aggregate have a “moderate buy” recommendation, which can sustain investor demand and limit downside. Analyst consensus: Moderate Buy
• Positive Sentiment: Zacks highlighted GLW as a top-ranked growth stock under its style scores, reinforcing the growth narrative for momentum investors. Zacks: Top-ranked growth stock
• Positive Sentiment: Market coverage notes strong GenAI-driven demand for optical communications, supporting near-term revenue momentum in Corning’s Optical Communications segment. Yahoo: GenAI-driven optical demand
• Neutral Sentiment: Some outlets present mixed analyst views and valuation questions despite recent gains; these pieces underscore investor caution around stretched multiples after a large run-up. Globe and Mail: Mixed analyst opinions
• Neutral Sentiment: An investor-focused article lists two bullish reasons and one skepticism point — useful for watchlist investors but highlights the need to weigh growth vs. valuation. Yahoo: 2 reasons to like, 1 to be skeptical

Corning Stock Down 0.5%

GLW stock opened at $129.19 on Monday. The company’s 50 day moving average is $117.74 and its 200 day moving average is $95.48. The stock has a market cap of $110.84 billion, a price-to-earnings ratio of 70.21, a price-to-earnings-growth ratio of 2.04 and a beta of 1.04. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 1-year low of $37.31 and a 1-year high of $162.10.

Corning (NYSE:GLW) last posted its quarterly earnings data on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. Corning had a net margin of 10.21% and a return on equity of 18.72%. The company had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.35 billion. During the same period in the previous year, the firm posted $0.57 EPS. The firm’s revenue was up 13.9% compared to the same quarter last year. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. Sell-side analysts predict that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, February 27th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, February 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.9%. Corning’s dividend payout ratio is 60.87%.

Insider Activity

In related news, insider Eric S. Musser sold 25,000 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $110.00, for a total transaction of $2,750,000.00. Following the transaction, the insider directly owned 19,926 shares of the company’s stock, valued at approximately $2,191,860. This trade represents a 55.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Li Fang sold 9,797 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $113.51, for a total value of $1,112,057.47. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 233,201 shares of company stock worth $32,614,558. 0.32% of the stock is currently owned by insiders.

Analyst Ratings Changes

GLW has been the topic of a number of recent analyst reports. Barclays set a $100.00 target price on Corning in a research note on Thursday, January 29th. Citigroup raised their price target on shares of Corning from $120.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. UBS Group boosted their price objective on Corning from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Weiss Ratings raised shares of Corning from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 17th. Finally, Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Friday, November 21st. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $131.75.

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.