Corning (NYSE:GLW) Trading 11.3% Higher – Should You Buy?

Corning Incorporated (NYSE:GLW) shot up 11.3% during mid-day trading on Thursday . The company traded as high as $196.02 and last traded at $195.2790. 22,163,901 shares were traded during trading, an increase of 82% from the average daily volume of 12,159,388 shares. The stock had previously closed at $175.40.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GLW shares. Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Barclays lifted their price target on Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Susquehanna upped their price objective on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a report on Wednesday, April 29th. UBS Group increased their price objective on Corning from $223.00 to $228.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Finally, Wall Street Zen downgraded Corning from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $178.31.

Corning Stock Performance

The company has a market cap of $168.06 billion, a P/E ratio of 93.44, a price-to-earnings-growth ratio of 2.54 and a beta of 1.15. The company’s fifty day moving average is $179.09 and its 200 day moving average is $136.06. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62.

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

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, May 29th. This represents a $1.12 annualized dividend and a yield of 0.6%. Corning’s dividend payout ratio is currently 53.59%.

Insider Buying and Selling at Corning

In other Corning news, SVP Soumya Seetharam sold 20,000 shares of Corning stock in a transaction that occurred on Monday, May 11th. The stock was 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. The trade was a 43.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the sale, the senior vice president directly owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. This trade represents a 24.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 160,655 shares of company stock worth $30,692,560 over the last quarter. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Corning

A number of hedge funds have recently modified their holdings of the company. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of Corning in the third quarter worth about $25,000. Berbice Capital Management LLC purchased a new stake in Corning in the 4th quarter worth approximately $26,000. Basepoint Wealth LLC bought a new stake in shares of Corning in the 4th quarter worth approximately $26,000. Kemnay Advisory Services Inc. bought a new stake in shares of Corning in the 4th quarter worth approximately $27,000. Finally, Litman Gregory Wealth Management LLC purchased a new position in shares of Corning during the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

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.