Corning (NYSE:GLW) Stock Price Down 7.5% – Should You Sell?

Corning Incorporated (NYSE:GLW)’s share price was down 7.5% during mid-day trading on Tuesday . The stock traded as low as $186.60 and last traded at $194.02. Approximately 17,862,724 shares were traded during trading, an increase of 46% from the average session volume of 12,270,346 shares. The stock had previously closed at $209.83.

Corning News Roundup

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning’s operating margin has improved since launching its Springboard plan, with strong growth in Optical Communications helping drive better profitability and supporting the stock. Corning Rides on Strong Operating Margin Growth: Will it Sustain?
• Positive Sentiment: Unusual options activity showed traders buying a much larger-than-normal number of call options, suggesting rising bullish speculation in GLW. A Look at Corning Inc (GLW) After 7.7% Gain — GF Value $60.59 vs Price $209.83
• Neutral Sentiment: UBS recently raised its price target on Corning to $228 from $223 and reiterated a Buy rating, which reinforces a constructive view from analysts. Here is why Corning Incorporated (GLW) is among the Most Overvalued Quantum Computing Stocks According to Short Sellers
• Negative Sentiment: Some short-seller commentary says GLW screens as overvalued on a forward P/E basis, which may temper enthusiasm after the recent rally. Here is why Corning Incorporated (GLW) is among the Most Overvalued Quantum Computing Stocks According to Short Sellers

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GLW. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Morgan Stanley set a $180.00 target price on shares of Corning in a research report on Friday, May 8th. Truist Financial raised their price target on Corning from $149.00 to $205.00 and gave the company a “hold” rating in a research report on Monday. Citigroup lifted their price target on Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Mizuho upped their price objective on Corning from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Corning currently has an average rating of “Moderate Buy” and a consensus target price of $182.62.

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 company has a fifty day moving average price of $181.42 and a 200 day moving average price of $138.52. The stock has a market cap of $166.98 billion, a PE ratio of 92.83, a P/E/G ratio of 2.79 and a beta of 1.15.

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, topping the consensus estimate of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period last year, the company earned $0.54 EPS. Corning’s revenue for the quarter was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Analysts expect that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Dividend Announcement

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

Insider Activity at Corning

In other news, SVP Jaymin Amin sold 27,395 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the transaction, the senior vice president directly owned 94,400 shares of the company’s stock, valued at approximately $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Wendell P. Weeks sold 100,000 shares of the firm’s stock in a transaction on 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 directly owned 908,353 shares of the company’s stock, valued at $169,371,500.38. The trade was a 9.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 160,655 shares of company stock worth $30,692,560 over the last 90 days. 0.25% of the stock is owned by insiders.

Hedge Funds Weigh In On Corning

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in shares of Corning in the 3rd quarter valued at approximately $25,000. Berbice Capital Management LLC purchased a new stake in Corning in the fourth quarter worth $26,000. Basepoint Wealth LLC bought a new position in Corning in the fourth quarter worth $26,000. Kemnay Advisory Services Inc. purchased a new position in Corning during the fourth quarter valued at $27,000. Finally, Litman Gregory Wealth Management LLC purchased a new position in Corning during the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

About Corning

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.