FengHe Fund Management Pte. Ltd. Makes New $33.30 Million Investment in Corning Incorporated $GLW

FengHe Fund Management Pte. Ltd. purchased a new position in shares of Corning Incorporated (NYSE:GLW) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 406,000 shares of the electronics maker’s stock, valued at approximately $33,304,000. Corning makes up 3.0% of FengHe Fund Management Pte. Ltd.’s holdings, making the stock its 15th biggest holding.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Corning by 1.6% in the second quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock worth $5,151,301,000 after purchasing an additional 1,582,895 shares during the period. State Street Corp increased its holdings in Corning by 1.4% in the 2nd quarter. State Street Corp now owns 36,568,973 shares of the electronics maker’s stock valued at $1,923,162,000 after buying an additional 509,013 shares during the period. Geode Capital Management LLC raised its position in shares of Corning by 0.6% in the 2nd quarter. Geode Capital Management LLC now owns 19,443,525 shares of the electronics maker’s stock valued at $1,018,629,000 after buying an additional 112,739 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Corning by 8.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock worth $724,432,000 after acquiring an additional 1,036,988 shares during the period. Finally, Norges Bank acquired a new stake in shares of Corning during the 2nd quarter worth approximately $534,936,000. Institutional investors own 69.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on GLW. Weiss Ratings restated a “buy (b-)” rating on shares of Corning in a research report on Monday, December 29th. JPMorgan Chase & Co. upped their price objective on Corning from $85.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. Mizuho set a $97.00 target price on Corning in a research report on Wednesday, October 29th. Argus increased their target price on shares of Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, Oppenheimer set a $100.00 price target on shares of Corning and gave the company an “outperform” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Corning currently has an average rating of “Moderate Buy” and an average price target of $93.09.

Corning Price Performance

Shares of NYSE:GLW opened at $85.23 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.56. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $96.64. The firm has a market cap of $73.07 billion, a PE ratio of 53.94, a price-to-earnings-growth ratio of 1.56 and a beta of 1.13. The firm’s fifty day moving average is $86.42 and its 200-day moving average is $75.44.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.24 billion. Corning had a return on equity of 18.12% and a net margin of 9.16%.The business’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.54 EPS. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Sell-side analysts predict that Corning Incorporated will post 2.33 earnings per share for the current year.

Insider Activity

In related news, insider Eric S. Musser sold 100,000 shares of Corning stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $90.17, for a total transaction of $9,017,000.00. Following the completion of the transaction, the insider owned 44,926 shares of the company’s stock, valued at $4,050,977.42. This trade represents a 69.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Stefan Becker sold 12,100 shares of the company’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $91.28, for a total transaction of $1,104,488.00. Following the sale, the senior vice president directly owned 5,049 shares in the company, valued at $460,872.72. This trade represents a 70.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 156,135 shares of company stock worth $14,088,769. 0.40% of the stock is owned by company insiders.

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.