Corning (NYSE:GLW) Shares Climb 2.5% – Here’s Why

Corning Incorporated (NYSE:GLW)’s share price rose 2.5% during trading on Friday. The stock traded as high as $159.18 and last traded at $156.6160. Approximately 6,659,627 shares were traded during mid-day trading, a decline of 45% from the average daily volume of 12,044,514 shares. The stock had previously closed at $152.83.

Corning News Roundup

Here are the key news stories impacting Corning this week:

• Positive Sentiment: AI communications demand supports growth outlook: Corning and Ciena are highlighted as beneficiaries of rising AI-related network investment, stronger backlogs and demand for optical communications components. Buy GLW and CIEN to Gain More on AI Communication Component Space Rally
• Positive Sentiment: Truist raises its price target: Truist increased its target for GLW from $175 to $182, signaling additional potential upside based on Corning’s growth prospects. Truist Raises Target for Corning Stock
• Positive Sentiment: Long-term growth case remains intact: Zacks cited Corning’s growth characteristics and style scores, while commentary pointed to plans to expand U.S. optical-fiber capacity by more than 50% alongside a reported $2 billion investment. Why Corning Is a Top Growth Stock for the Long Term
• Positive Sentiment: Dividend declared: Corning approved a quarterly dividend of $0.28 per share, or $1.12 annualized, providing continued shareholder returns. The indicated yield is approximately 0.7%. Corning Declares Quarterly Dividend

Analyst Ratings Changes

Several analysts recently issued reports on GLW shares. Bank of America cut their target price on Corning from $243.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, July 29th. JPMorgan Chase & Co. cut their price objective on shares of Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, July 29th. Mizuho reduced their price objective on shares of Corning from $210.00 to $180.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 15th. UBS Group upped their target price on shares of Corning from $196.00 to $201.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Wall Street Zen downgraded shares of Corning from a “buy” rating to a “hold” rating in a report on Monday, August 24th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $177.56.

Corning Trading Up 2.5%

The firm has a market cap of $134.91 billion, a P/E ratio of 71.51, a P/E/G ratio of 2.08 and a beta of 1.13. The stock has a 50 day simple moving average of $155.41 and a 200-day simple moving average of $168.64. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%.The firm had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. During the same period in the prior year, the company earned $0.60 EPS. The company’s quarterly 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. On average, equities research analysts expect that Corning Incorporated will post 3.28 EPS for the current fiscal year.

Corning Announces Dividend

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

Insider Activity at Corning

In other 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 $2,277,217.08. The trade was a 46.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.25% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wedmont Private Capital raised its position in Corning by 7.9% during the third quarter. Wedmont Private Capital now owns 10,749 shares of the electronics maker’s stock valued at $1,643,000 after purchasing an additional 788 shares during the period. Journey Retirement Planning & Investment Management LLC boosted its holdings in shares of Corning by 76.3% in the 3rd quarter. Journey Retirement Planning & Investment Management LLC now owns 3,018 shares of the electronics maker’s stock worth $464,000 after purchasing an additional 1,306 shares during the period. Central Bank & Trust Co. increased its position in shares of Corning by 55.0% during the 3rd quarter. Central Bank & Trust Co. now owns 22,322 shares of the electronics maker’s stock valued at $3,432,000 after purchasing an additional 7,917 shares during the last quarter. Cypress Asset Management Inc. TX raised its holdings in Corning by 27.9% during the 3rd quarter. Cypress Asset Management Inc. TX now owns 13,719 shares of the electronics maker’s stock valued at $2,109,000 after buying an additional 2,990 shares during the period. Finally, Hummer Financial Advisory Services Inc raised its holdings in Corning by 14.6% during the 3rd quarter. Hummer Financial Advisory Services Inc now owns 2,665 shares of the electronics maker’s stock valued at $410,000 after buying an additional 340 shares during the period. Hedge funds and other 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.