Bank of America Issues Positive Forecast for Corning (NYSE:GLW) Stock Price

Corning (NYSE:GLW) had its price target lifted by Bank of America from $223.00 to $243.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the electronics maker’s stock. Bank of America‘s target price suggests a potential upside of 23.90% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. upped their price target on shares of Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. Barclays upped their target price on Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. UBS Group increased their target price on shares of Corning from $223.00 to $228.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Finally, Wall Street Zen lowered shares of Corning from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Corning has a consensus rating of “Moderate Buy” and a consensus target price of $190.85.

Corning Stock Performance

Corning stock opened at $196.12 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The firm has a market capitalization of $168.79 billion, a P/E ratio of 93.84, a price-to-earnings-growth ratio of 2.82 and a beta of 1.09. Corning has a 1-year low of $51.32 and a 1-year high of $271.78. The company’s 50-day moving average is $190.59 and its 200 day moving average is $146.79.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $4.30 billion. During the same quarter in the previous year, the business earned $0.54 earnings per share. The company’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. Research analysts forecast that Corning will post 3.19 EPS for the current year.

Insider Activity

In other Corning news, SVP Jaymin Amin sold 27,395 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the transaction, the senior vice president owned 94,400 shares in the company, valued at approximately $18,138,016. This represents a 22.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Wendell P. Weeks sold 100,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the transaction, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 160,655 shares of company stock valued at $30,692,560. 0.25% of the stock is owned by company insiders.

Institutional Trading of Corning

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of Corning in the third quarter worth $25,000. Berbice Capital Management LLC purchased a new position in shares of Corning during the 4th quarter valued at about $26,000. Basepoint Wealth LLC acquired a new position in shares of Corning in the 4th quarter valued at about $26,000. Kemnay Advisory Services Inc. acquired a new stake in Corning during the fourth quarter worth about $27,000. Finally, Litman Gregory Wealth Management LLC acquired a new position in Corning in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

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.