Corning Incorporated $GLW Stock Acquired by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC boosted its position in shares of Corning Incorporated (NYSE:GLW) by 31.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,585 shares of the electronics maker’s stock after buying an additional 15,556 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Corning were worth $10,084,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Herbst Group LLC acquired a new position in shares of Corning in the 2nd quarter valued at $4,474,000. Principal Financial Group Inc. increased its stake in Corning by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker’s stock worth $121,483,000 after purchasing an additional 10,591 shares in the last quarter. Wealthfront Advisers LLC increased its stake in Corning by 36.2% in the 1st quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker’s stock worth $12,567,000 after purchasing an additional 24,589 shares in the last quarter. Silverlake Wealth Management LLC acquired a new stake in Corning during the 2nd quarter worth about $1,872,000. Finally, Atlas Wealth LLC raised its holdings in Corning by 137.8% during the 1st quarter. Atlas Wealth LLC now owns 12,076 shares of the electronics maker’s stock worth $1,642,000 after buying an additional 6,998 shares during the period. 69.80% of the stock is owned by institutional investors and hedge funds.

Corning Price Performance

GLW opened at $131.46 on Thursday. The stock has a market cap of $113.24 billion, a price-to-earnings ratio of 60.03, a PEG ratio of 1.56 and a beta of 1.13. Corning Incorporated has a 1 year low of $77.39 and a 1 year high of $271.78. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. The stock has a fifty day moving average price of $148.92 and a 200 day moving average price of $154.57.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, October 27th. The electronics maker reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. Corning had a return on equity of 20.09% and a net margin of 11.20%. The company had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same period in the prior year, the firm posted $0.67 EPS. The business’s revenue was up 18.9% compared to the same quarter last year. Analysts forecast that Corning Incorporated will post 3.30 EPS for the current fiscal year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 13th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.12 annualized dividend and a dividend yield of 0.9%. Corning’s payout ratio is presently 51.14%.

Analysts Set New Price Targets

Several research firms have recently weighed in on GLW. Mizuho dropped their target price 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. China Renaissance upgraded shares of Corning from a “hold” rating to a “buy” rating and set a $238.00 price target on the stock in a report on Tuesday, September 8th. Barclays upped their price target on shares of Corning from $129.00 to $132.00 and gave the company an “equal weight” rating in a research report on Wednesday. Weiss Ratings lowered shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Finally, Citigroup reiterated a “buy” rating on shares of Corning in a research report on Tuesday. Thirteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.81.

Key Corning News

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Strong Q3 earnings and outlook: Core sales rose 19% year over year to $5.08 billion, while adjusted EPS of $0.91 exceeded analyst expectations. Corning also guided to higher fourth-quarter earnings and revenue of approximately $5.25 billion at the midpoint. Corning Delivers Outstanding Third-Quarter Results
• Positive Sentiment: AI is driving optical growth: Optical Communications revenue surged 44% to roughly $2.38 billion, while Enterprise Networks sales increased 84%. Management said generative-AI product sales are growing faster than GPU shipments, supporting stronger margins and demand. GLW Q3 Earnings Beat Estimates
• Positive Sentiment: Large long-term opportunity: Corning expects AI data centers to increasingly replace copper with optical connections beginning around 2028. That transition could increase fiber requirements per GPU by as much as tenfold and support the company’s goal of reaching a $40 billion annualized sales run rate by 2030. Customer deposits and multiyear agreements are helping fund capacity expansion. The Invisible AI Backbone: Corning’s AI Fiber Play
• Positive Sentiment: Analyst support remains favorable: Truist reaffirmed its “buy” rating and set a $175 price target, indicating substantial potential upside from recent levels, although the target was reduced from $182. Corning Price Target Lowered at Truist
• Neutral Sentiment: Mixed analyst revisions: Morgan Stanley lowered its price target from $165 to $155 and maintained an “equal weight” rating, reflecting caution despite recognizing the company’s growth prospects.
• Negative Sentiment: Valuation and expectations remain risks: Corning trades at a high earnings multiple after a sharp retreat from its highs. Investors may continue to take profits or demand evidence that AI-driven growth can justify the valuation, particularly as the company invests heavily in expansion.

Insider Activity at Corning

In related news, EVP Lewis Steverson sold 13,100 shares of the business’s 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 owned 15,052 shares of the company’s stock, valued at approximately $2,277,217.08. The trade was a 46.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.25% of the company’s stock.

Corning Company Profile

Corning Incorporated (NYSE: GLW) is a technology company that develops and manufactures specialty glass, ceramics and optical-fiber products. Its materials and engineering expertise support communications networks, consumer electronics, automotive systems, life sciences and other industrial applications.

The company’s products include optical fiber, cable and connectivity solutions used in telecommunications infrastructure; glass substrates for televisions, computer monitors and other displays; durable cover glass for mobile devices; emissions-control components for vehicles; laboratory glassware and consumables; and specialized glass and ceramic materials for scientific, industrial and semiconductor applications.

Founded in 1851 and headquartered in Corning, New York, the company serves customers through operations and facilities across North America, Europe, Asia and other international markets.