Corning (NYSE:GLW) Stock Jumps 4.4% – Still a Buy?

Shares of Corning Incorporated (NYSE:GLW) shot up 4.4% during mid-day trading on Thursday. The company traded as high as $160.99 and last traded at $160.4970. Approximately 7,785,275 shares were traded during mid-day trading, a decline of 36% from the average session volume of 12,187,321 shares. The stock had previously closed at $153.76.

Corning News Summary

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning signed a multiyear agreement valued at more than $3 billion with AT&T to supply fiber and cable for U.S. broadband expansion. The deal should improve visibility for Corning’s Optical Communications business and benefit from rising data usage, AI adoption and demand for higher-capacity networks. Can Corning’s AT&T Deal Boost Its Optical Communications Growth?
• Positive Sentiment: GLW advanced alongside Coherent and Lumentum as investors favored companies exposed to AI infrastructure and optical connectivity. The sector-wide momentum reinforces the market’s interest in Corning’s fiber and photonics growth opportunities. Coherent, Lumentum and Corning Market Activity
• Neutral Sentiment: Sanford C. Bernstein initiated coverage with a “Market Perform” rating and a $140 price target, indicating that the firm sees balanced risk and reward after the recent rally. The target is below the referenced trading level, suggesting limited near-term upside in Bernstein’s view.
• Negative Sentiment: Pomerantz LLP announced investigations on behalf of Corning investors. The announcement does not establish wrongdoing, but potential litigation can create legal costs, reputational risk and an overhang on the stock. Pomerantz Investor Investigation

Wall Street Analyst Weigh In

Several equities analysts have recently commented on GLW shares. Mizuho lowered their price objective on 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 reissued a “buy” rating and issued a $196.00 price target on shares of Corning in a report on Wednesday, July 29th. Bank of America increased their price objective on shares of Corning from $223.00 to $243.00 and gave the company a “buy” rating in a report on Monday, July 6th. JPMorgan Chase & Co. lowered their target price on shares of Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, July 29th. Finally, Oppenheimer dropped their target price on shares of Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $174.07.

Corning Stock Up 4.4%

The firm has a market capitalization of $138.25 billion, a PE ratio of 73.29, a PEG ratio of 2.02 and a beta of 1.16. The company has a fifty day moving average price of $152.66 and a 200-day moving average price of $167.31. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The firm had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. During the same period last year, the firm posted $0.60 earnings per share. Corning’s revenue for the quarter was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, analysts expect that Corning Incorporated will post 3.28 earnings per share for the current year.

Insider Buying and Selling at Corning

In other news, EVP Lewis Steverson sold 13,100 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the sale, the executive vice president directly owned 15,052 shares in the company, valued at approximately $2,277,217.08. This represents a 46.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Corning

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