Corning (NYSE:GLW) Stock Jumps 6.1% – Here’s Why

Shares of Corning Incorporated (NYSE:GLW) shot up 6.1% during trading on Tuesday. The company traded as high as $170.63 and last traded at $169.0670. 8,838,086 shares were traded during trading, a decline of 27% from the average session volume of 12,124,027 shares. The stock had previously closed at $159.37.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GLW shares. Weiss Ratings lowered Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. China Renaissance raised Corning from a “hold” rating to a “buy” rating and set a $238.00 price target for the company in a report on Tuesday, September 8th. Morgan Stanley decreased their price objective on Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. UBS Group lifted their price objective on Corning from $196.00 to $201.00 and gave the company a “buy” rating in a research report on Monday. Finally, Bank of America increased their price target on Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Twelve equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Corning currently has a consensus rating of “Moderate Buy” and an average target price of $174.87.

Corning Stock Up 6.1%

The business has a 50-day moving average price of $153.42 and a 200 day moving average price of $167.96. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $145.63 billion, a P/E ratio of 77.20, a P/E/G ratio of 2.09 and a beta of 1.13.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter in the prior year, the firm earned $0.60 earnings per share. Corning’s revenue was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, equities analysts expect that Corning Incorporated will post 3.28 EPS for the current fiscal year.

Insider Activity at Corning

In related news, EVP Lewis Steverson sold 13,100 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $151.29, for a total value of $1,981,899.00. Following the completion of the transaction, the executive vice president owned 15,052 shares of the company’s stock, valued at approximately $2,277,217.08. This trade represents a 46.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Corning

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GLW. Byrne Asset Management LLC raised its holdings in Corning by 1.2% during the 3rd quarter. Byrne Asset Management LLC now owns 18,233 shares of the electronics maker’s stock valued at $2,925,000 after buying an additional 214 shares during the period. Legacy Private Trust Co. boosted its stake in Corning by 7.4% during the third quarter. Legacy Private Trust Co. now owns 17,108 shares of the electronics maker’s stock worth $2,631,000 after buying an additional 1,183 shares during the period. Rosenberg Matthew Hamilton increased its position in Corning by 97.6% during the third quarter. Rosenberg Matthew Hamilton now owns 1,476 shares of the electronics maker’s stock valued at $227,000 after acquiring an additional 729 shares during the last quarter. Baker Tilly Wealth Management LLC raised its stake in shares of Corning by 80.1% in the third quarter. Baker Tilly Wealth Management LLC now owns 3,771 shares of the electronics maker’s stock valued at $580,000 after acquiring an additional 1,677 shares during the period. Finally, Ferguson Wellman Capital Management Inc. raised its stake in shares of Corning by 10.1% in the third quarter. Ferguson Wellman Capital Management Inc. now owns 17,458 shares of the electronics maker’s stock valued at $2,684,000 after acquiring an additional 1,596 shares during the period. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Corning Company Profile

Corning Incorporated (NYSE: GLW) is a global materials science and technology company headquartered in Corning, New York. Founded in 1851, the company develops specialized glass, ceramics and optical technologies for customers in the communications, consumer electronics, automotive, life sciences and industrial markets.

Its Optical Communications segment supplies fiber, cable, hardware and related solutions used in telecommunications and data center networks. Corning also produces glass substrates for flat-panel displays, including televisions, monitors and other electronic devices, as well as specialty cover glass such as Gorilla Glass for mobile devices and other consumer electronics.

Additional products include automotive emissions-control substrates and filters, pharmaceutical and laboratory glassware, and advanced glass and ceramic materials used in semiconductor, aerospace, environmental and other applications.