Corning (NYSE:GLW) Shares Up 5.3% – Should You Buy?

Shares of Corning Incorporated (NYSE:GLW) shot up 5.3% on Thursday . The company traded as high as $177.31 and last traded at $177.0980. 9,802,961 shares changed hands during trading, a decline of 19% from the average session volume of 12,120,785 shares. The stock had previously closed at $168.17.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on GLW. Mizuho boosted their target price on Corning from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. JPMorgan Chase & Co. upped their price objective on Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. HSBC restated a “buy” rating and set a $135.00 target price on shares of Corning in a report on Friday, February 13th. Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, Truist Financial raised their target price on Corning from $125.00 to $149.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $178.31.

Corning Stock Performance

The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The stock has a market cap of $154.79 billion, a P/E ratio of 86.05, a PEG ratio of 2.53 and a beta of 1.15. The stock has a fifty day simple moving average of $177.15 and a 200-day simple moving average of $133.67.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm had revenue of $4.35 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter last year, the business earned $0.54 earnings per share. The company’s revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities analysts expect that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Announces Dividend

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

Insider Buying and Selling

In other Corning news, VP John Z. Zhang sold 10,000 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $198.34, for a total value of $1,983,400.00. Following the completion of the sale, the vice president directly owned 5,138 shares in the company, valued at $1,019,070.92. This represents a 66.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the sale, the chief executive officer owned 908,353 shares of the company’s stock, valued at $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 160,655 shares of company stock valued at $30,692,561. 0.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On Corning

Several large investors have recently modified their holdings of GLW. Vanguard Group Inc. grew its holdings in shares of Corning by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker’s stock worth $8,693,247,000 after buying an additional 580,678 shares in the last quarter. State Street Corp grew its holdings in shares of Corning by 1.2% during the third quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock worth $3,035,836,000 after buying an additional 439,883 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Corning by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker’s stock worth $1,781,250,000 after buying an additional 517,067 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Corning by 52.7% during the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock worth $1,478,959,000 after buying an additional 5,831,873 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Corning by 30.3% during 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 buying an additional 3,848,540 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors.

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.