Corning (NYSE:GLW) Shares Up 5.2% Following Analyst Upgrade

Corning Incorporated (NYSE:GLW)’s stock price rose 5.2% on Monday after Bank of America raised their price target on the stock from $144.00 to $155.00. Bank of America currently has a buy rating on the stock. Corning traded as high as $135.26 and last traded at $131.0560. Approximately 13,423,710 shares changed hands during mid-day trading, an increase of 19% from the average daily volume of 11,236,461 shares. The stock had previously closed at $124.58.

A number of other equities research analysts also recently commented on the stock. Fox Advisors downgraded shares of Corning from an “overweight” rating to an “equal weight” rating in a research report on Thursday, January 29th. Mizuho set a $145.00 price objective on shares of Corning in a research report on Monday, February 23rd. JPMorgan Chase & Co. increased their target price on Corning from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. Barclays set a $100.00 price target on Corning in a research note on Thursday, January 29th. Finally, Oppenheimer set a $120.00 price target on Corning in a report on Thursday, January 29th. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $132.67.

Insiders Place Their Bets

In related news, CFO Edward A. Schlesinger sold 21,104 shares of the stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $104.55, for a total value of $2,206,423.20. Following the transaction, the chief financial officer directly owned 54,780 shares of the company’s stock, valued at $5,727,249. This trade represents a 27.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Wendell P. Weeks sold 137,514 shares of Corning stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $155.37, for a total transaction of $21,365,550.18. Following the sale, the chief executive officer owned 750,585 shares in the company, valued at $116,618,391.45. This represents a 15.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 233,201 shares of company stock worth $32,614,558. 0.32% of the stock is currently owned by company insiders.

Institutional Trading of Corning

Institutional investors and hedge funds have recently made changes to their positions in the company. Lansforsakringar Fondforvaltning AB publ increased its holdings in shares of Corning by 4.9% in the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 261,749 shares of the electronics maker’s stock valued at $21,471,000 after purchasing an additional 12,297 shares during the period. Hartline Investment Corp raised its stake in shares of Corning by 113.2% during the third quarter. Hartline Investment Corp now owns 295,362 shares of the electronics maker’s stock worth $24,229,000 after purchasing an additional 156,843 shares during the last quarter. Natixis Advisors LLC lifted its holdings in shares of Corning by 32.1% during the third quarter. Natixis Advisors LLC now owns 479,921 shares of the electronics maker’s stock worth $39,367,000 after purchasing an additional 116,583 shares during the period. Schroder Investment Management Group grew its position in Corning by 638.0% in the 2nd quarter. Schroder Investment Management Group now owns 546,407 shares of the electronics maker’s stock valued at $28,736,000 after buying an additional 472,365 shares during the last quarter. Finally, Caprock Group LLC purchased a new position in Corning in the 3rd quarter valued at $3,355,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning Stock Up 5.2%

The company has a market capitalization of $112.44 billion, a price-to-earnings ratio of 71.23, a PEG ratio of 1.97 and a beta of 1.04. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.62. The firm’s 50 day simple moving average is $122.87 and its 200-day simple moving average is $98.09.

Corning (NYSE:GLW) last released its earnings results on Wednesday, January 28th. The electronics maker reported $0.72 EPS for the quarter, topping the consensus estimate of $0.71 by $0.01. The company had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.35 billion. Corning had a net margin of 10.21% and a return on equity of 18.72%. The business’s revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the business earned $0.57 EPS. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. On average, sell-side analysts anticipate that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, February 27th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, February 27th. This represents a $1.12 annualized dividend and a yield of 0.9%. Corning’s payout ratio is presently 60.87%.

About Corning

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.