Smithbridge Asset Management Inc. DE Sells 3,800 Shares of Corning Incorporated $GLW

Smithbridge Asset Management Inc. DE trimmed its position in shares of Corning Incorporated (NYSE:GLW) by 50.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 3,800 shares of the electronics maker’s stock after selling 3,800 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in Corning were worth $517,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Corning by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker’s stock worth $8,693,247,000 after acquiring an additional 580,678 shares during the period. State Street Corp increased its stake in Corning by 1.2% in the third quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock valued at $3,035,836,000 after acquiring an additional 439,883 shares during the last quarter. Geode Capital Management LLC raised its position in Corning by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker’s stock valued at $1,781,250,000 after purchasing an additional 517,067 shares in the last quarter. Capital Research Global Investors raised its position in Corning by 52.7% during the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock valued at $1,478,959,000 after purchasing an additional 5,831,873 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Corning by 30.3% during the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock worth $1,358,211,000 after purchasing an additional 3,848,540 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Corning

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Mizuho raised its price target on Corning to $270 from $220 and kept an outperform rating, signaling confidence that the AI/data-center buildout still supports further upside. Benzinga report on Mizuho price target hike
• Positive Sentiment: Several reports highlighted Corning’s exposure to AI-driven fiber demand, new hyperscaler deals, and margin improvement, which are helping explain why the stock has surged over the past year. Yahoo Finance article on Corning stock gains
• Positive Sentiment: Analyst and momentum coverage continues to describe Corning as a strong long-term momentum name, reinforcing the bullish narrative around secular growth in connectivity and data-center infrastructure. Zacks momentum article on Corning
• Neutral Sentiment: Commentary noted Corning has delivered an exceptional multi-year advance, which keeps the stock in focus for investors evaluating whether the valuation can be sustained after such a steep rally. MSN/Zacks momentum coverage
• Negative Sentiment: One article said Corning’s 13.6% single-day drop may reflect investor concerns that the AI fiber trade is cracking, though it could also simply be a pullback after a parabolic move. 247WallSt article on Corning drop
• Negative Sentiment: Risks remain from competition, China exposure, and consumer electronics weakness, which could limit how much of the AI-driven optimism translates into earnings growth. Yahoo Finance risk discussion

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on GLW shares. Morgan Stanley set a $180.00 target price on Corning in a report on Friday, May 8th. Truist Financial upped their price objective on Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research report on Monday, June 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Mizuho boosted their target price on Corning from $220.00 to $270.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Oppenheimer increased their target price on shares of Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Corning currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.46.

Insider Activity

In other news, SVP Soumya Seetharam sold 20,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the sale, the senior vice president directly owned 25,570 shares in the company, valued at approximately $5,273,301.10. The trade was a 43.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the transaction, the senior vice president directly owned 10,174 shares of the company’s stock, valued at $2,106,221.48. This represents a 24.27% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 160,655 shares of company stock valued at $30,692,560. 0.25% of the stock is currently owned by company insiders.

Corning Stock Down 11.1%

Shares of NYSE:GLW opened at $196.12 on Friday. The company has a fifty day moving average of $190.04 and a 200-day moving average of $146.03. The company has a market capitalization of $168.79 billion, a PE ratio of 93.84, a price-to-earnings-growth ratio of 3.16 and a beta of 1.09. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. Corning Incorporated has a 52-week low of $51.32 and a 52-week high of $271.78.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.Corning’s revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities analysts predict that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio (DPR) is presently 53.59%.

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.