Corning (NYSE:GLW) Raised to Buy at Wall Street Zen

Corning (NYSE:GLW) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Several other research firms also recently weighed in on GLW. Truist Financial lifted their price objective on Corning from $149.00 to $205.00 and gave the company a “hold” rating in a report on Monday, June 22nd. Morgan Stanley set a $180.00 price target on shares of Corning in a research report on Friday, May 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. JPMorgan Chase & Co. boosted their price objective on shares of Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Mizuho upped their target price on Corning from $220.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Corning currently has an average rating of “Moderate Buy” and a consensus price target of $194.69.

Corning Trading Down 2.5%

GLW opened at $154.47 on Friday. 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 stock’s fifty day moving average is $192.81 and its two-hundred day moving average is $152.85. The company has a market capitalization of $132.94 billion, a P/E ratio of 73.91, a PEG ratio of 2.08 and a beta of 1.09. Corning has a 52 week low of $53.29 and a 52 week high of $271.78.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share 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 during the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the prior year, the business earned $0.54 EPS. The business’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 forecast that Corning will post 3.18 earnings per share for the current year.

Insider Activity

In other Corning news, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction on Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the transaction, the vice president directly owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. The trade was a 66.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the sale, the senior vice president owned 94,400 shares of the company’s stock, valued at approximately $18,138,016. This represents a 22.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 160,655 shares of company stock worth $30,692,560 over the last 90 days. 0.25% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GLW. Brighton Jones LLC raised its stake in 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 last quarter. Retirement Planning Co of New England Inc. purchased a new stake in shares of Corning during the first quarter worth about $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of 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 valued at $2,962,000 after acquiring an additional 5,522 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in Corning during the 2nd quarter worth approximately $401,000. Finally, Schnieders Capital Management LLC. purchased a new position in shares of Corning in the second quarter worth $266,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Corning Company 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.