Silverlake Wealth Management LLC Acquires New Holdings in Corning Incorporated $GLW

Silverlake Wealth Management LLC bought a new position in shares of Corning Incorporated (NYSE:GLW) in the second quarter, HoldingsChannel reports. The firm bought 7,329 shares of the electronics maker’s stock, valued at approximately $1,872,000.

Several other hedge funds have also recently bought and sold shares of the stock. Brighton Jones LLC boosted its holdings in shares of Corning by 46.0% in the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after buying an additional 2,114 shares during the period. Retirement Planning Co of New England Inc. acquired a new stake in shares of Corning during the first quarter worth $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Corning by 9.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock valued at $2,962,000 after acquiring an additional 5,522 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Corning in the 2nd quarter worth $401,000. Finally, Schnieders Capital Management LLC. acquired a new position in Corning in the 2nd quarter worth $266,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Price Performance

Shares of NYSE GLW opened at $165.85 on Friday. The stock has a market capitalization of $142.86 billion, a price-to-earnings ratio of 75.73, a PEG ratio of 2.12 and a beta of 1.14. The business has a 50-day moving average of $176.82 and a 200-day moving average of $161.45. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. Corning Incorporated has a fifty-two week low of $63.37 and a fifty-two week high of $271.78.

Corning (NYSE:GLW) last released its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%.The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. During the same quarter in the prior year, the company posted $0.60 earnings per share. Corning’s revenue was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, sell-side analysts predict that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. Corning’s dividend payout ratio is currently 51.14%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GLW shares. Mizuho lowered their target price on Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Morgan Stanley dropped their target price on Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 29th. Wall Street Zen downgraded Corning from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Finally, Weiss Ratings upgraded shares of Corning from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 7th. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $174.08.

Insider Buying and Selling

In other news, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction that occurred 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 owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the completion of the transaction, the senior vice president directly owned 94,400 shares of the company’s stock, valued at $18,138,016. This represents a 22.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.25% of the company’s stock.

Corning 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.