Zacks Research Upgrades Corning (NYSE:GLW) to Strong-Buy

Corning (NYSE:GLW) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday, Zacks reports.

Several other research firms have also issued reports on GLW. Wall Street Zen raised Corning from a “hold” rating to a “buy” rating in a report on Saturday, October 10th. JPMorgan Chase & Co. cut their price objective on Corning from $170.00 to $165.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 21st. Oppenheimer reduced their price objective on Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Citigroup reaffirmed a “buy” rating on shares of Corning in a research report on Tuesday. Finally, Morgan Stanley reduced their price target on shares of Corning from $165.00 to $155.00 and set an “equal weight” rating for the company in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.81.

Corning Trading Down 1.8%

Shares of Corning stock opened at $128.87 on Wednesday. The company has a market capitalization of $111.01 billion, a P/E ratio of 52.17, a price-to-earnings-growth ratio of 1.62 and a beta of 1.13. The stock has a fifty day simple moving average of $148.45 and a 200 day simple moving average of $154.79. Corning has a 12-month low of $77.39 and a 12-month high of $271.78. The company has a current ratio of 1.72, a quick ratio of 1.24 and a debt-to-equity ratio of 0.51.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, October 27th. The electronics maker reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. Corning had a net margin of 12.13% and a return on equity of 20.83%. The firm had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.03 billion. During the same quarter last year, the business posted $0.67 EPS. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. On average, sell-side analysts anticipate that Corning will post 3.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Corning news, EVP Lewis Steverson sold 13,100 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $151.29, for a total value of $1,981,899.00. Following the sale, the executive vice president directly owned 15,052 shares in the company, valued at $2,277,217.08. This represents a 46.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GLW. State Street Corp increased its position in shares of Corning by 13.4% in the second quarter. State Street Corp now owns 41,108,384 shares of the electronics maker’s stock worth $10,500,315,000 after purchasing an additional 4,845,027 shares during the last quarter. Bank of America Corp DE lifted its position in Corning by 29.2% during the second quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker’s stock valued at $4,784,361,000 after purchasing an additional 4,231,507 shares during the last quarter. Wellington Management Group LLP lifted its position in Corning by 50.9% during the second quarter. Wellington Management Group LLP now owns 13,174,194 shares of the electronics maker’s stock valued at $3,365,084,000 after purchasing an additional 4,446,514 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Corning in the 2nd quarter worth approximately $1,510,911,000. Finally, Legal & General Group Plc purchased a new position in Corning in the 2nd quarter worth approximately $1,212,283,000. Institutional investors own 69.80% of the company’s stock.

Corning News Roundup

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning reported better-than-expected quarterly results, with revenue rising 18.9% year over year to approximately $5.1 billion and EPS of $0.91 versus the $0.88 consensus. Gross margin expanded to 40.5% and operating margin reached 22.7%, highlighting substantial profit leverage. Corning Stock Price Up Following Better-Than-Expected Earnings
• Positive Sentiment: Demand for optical communications products is accelerating as artificial-intelligence data centers require greater fiber and connectivity capacity. Optical Communications revenue reportedly increased 44%, while customer-backed capacity expansion and the shift from copper to optical connections could support further growth. Corning Q3 Sales Jump as AI Optical Demand Accelerates
• Positive Sentiment: Truist Financial reaffirmed its Buy rating, maintaining a $175 price target despite lowering it from $182. The firm’s stance indicates it still sees meaningful upside if Corning converts AI-driven demand into sustained sales and margin growth. Truist Reaffirms Buy Rating
• Neutral Sentiment: Morgan Stanley completed its review of Corning’s production expansion but said any valuation improvement depends on stronger profit margins. The firm retains an Equal Weight rating, reflecting a balance between growth potential and execution risk. Morgan Stanley Report on Corning Production Expansion
• Negative Sentiment: Morgan Stanley lowered its price target from $165 to $155, citing limited near-term valuation upside. A separate fair-value estimate also declined from $189.94 to $182.76, underscoring investor concerns that the stock’s high earnings multiple already prices in much of the AI opportunity. Morgan Stanley Lowers Corning Price Target
• Negative Sentiment: Corning has experienced significant recent weakness after retreating from its highs, and ETFs were reported as net sellers. The pullback may improve entry points, but valuation, execution and margin sustainability remain important risks for investors. ETFs Are Net Sellers of Corning

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.