Bailard Inc. Sells 7,064 Shares of Corning Incorporated $GLW

Bailard Inc. lessened its holdings in Corning Incorporated (NYSE:GLW) by 17.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 33,789 shares of the electronics maker’s stock after selling 7,064 shares during the period. Bailard Inc.’s holdings in Corning were worth $2,772,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Brighton Jones LLC increased its holdings in shares of Corning by 46.0% in the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after buying an additional 2,114 shares during the last quarter. Retirement Planning Co of New England Inc. purchased a new position in Corning in the first quarter worth about $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Corning by 9.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock worth $2,962,000 after acquiring an additional 5,522 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Corning during the second quarter valued at approximately $401,000. Finally, Farther Finance Advisors LLC raised its position in Corning by 1.3% during the second quarter. Farther Finance Advisors LLC now owns 22,924 shares of the electronics maker’s stock valued at $1,206,000 after purchasing an additional 288 shares during the period. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insider Buying and Selling

In other news, EVP Lewis A. Steverson sold 23,142 shares of Corning stock in a transaction on Friday, October 31st. The stock was sold at an average price of $89.05, for a total value of $2,060,795.10. Following the transaction, the executive vice president directly owned 17,575 shares in the company, valued at approximately $1,565,053.75. This trade represents a 56.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Eric S. Musser sold 100,000 shares of the business’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $90.17, for a total value of $9,017,000.00. Following the completion of the transaction, the insider directly owned 44,926 shares of the company’s stock, valued at approximately $4,050,977.42. The trade was a 69.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 156,135 shares of company stock worth $14,088,769 over the last quarter. Insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

GLW has been the topic of several analyst reports. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 21st. JPMorgan Chase & Co. lifted their price objective on shares of Corning from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Citigroup increased their target price on shares of Corning from $99.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, January 12th. UBS Group restated a “buy” rating and issued a $109.00 target price (up previously from $100.00) on shares of Corning in a report on Friday, November 21st. Finally, Mizuho set a $97.00 price target on shares of Corning in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $93.36.

Corning Stock Up 1.0%

Shares of Corning stock opened at $93.51 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.56 and a quick ratio of 1.00. The stock has a market cap of $80.17 billion, a price-to-earnings ratio of 59.18, a PEG ratio of 1.14 and a beta of 1.13. The firm’s 50-day moving average is $87.16 and its two-hundred day moving average is $77.82. Corning Incorporated has a 1 year low of $37.31 and a 1 year high of $96.64.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.01. The firm had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Corning had a net margin of 9.16% and a return on equity of 18.12%. The company’s revenue was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.54 EPS. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. As a group, research analysts expect that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

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.