Key Points
- Corning SVP Soumya Seetharam sold 20,000 shares on May 11 at an average price of $206.23, totaling about $4.12 million. After the sale, Seetharam still held 25,570 shares, representing a 43.89% reduction in ownership.
- Corning recently beat quarterly expectations, reporting EPS of $0.70 versus $0.69 expected and revenue of $4.35 billion versus $4.30 billion anticipated. Revenue rose 18.1% year over year, and the company guided Q2 2026 EPS to $0.73-$0.77.
- The company also announced a quarterly dividend of $0.28 per share, payable June 29 to shareholders of record on May 29. That works out to an annualized dividend of $1.12 and a yield of about 0.6%.
Corning Incorporated (NYSE:GLW - Get Free Report) SVP Michaune Tillman sold 3,260 shares of the business's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the sale, the senior vice president directly owned 10,174 shares in the company, valued at $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Corning Trading Down 4.4%
GLW opened at $198.23 on Wednesday. The stock has a market cap of $170.60 billion, a price-to-earnings ratio of 94.85, a P/E/G ratio of 2.97 and a beta of 1.14. The stock's 50 day moving average price is $153.08 and its 200-day moving average price is $117.47. Corning Incorporated has a one year low of $46.77 and a one year high of $208.92. 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 (NYSE:GLW - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.01. The firm had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.Corning's quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities analysts forecast that Corning Incorporated will post 3.19 EPS for the current year.
Corning Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be issued a $0.28 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. Corning's payout ratio is presently 53.59%.
Corning News Roundup
Here are the key news stories impacting Corning this week:
- Positive Sentiment: Corning remains in focus as an AI data-center beneficiary, with articles highlighting strong demand for optical components, expanded U.S. manufacturing, and photonics growth plans tied to infrastructure spending. 3 Optical Component Giants in Focus on Massive AI Data Center Growth
- Positive Sentiment: Mizuho raised its price target on Corning and reiterated an outperform view, reinforcing expectations for further upside after the stock’s strong run.
- Positive Sentiment: Investor enthusiasm also increased around Corning’s recent AI momentum, including coverage noting a major Nvidia partnership and Bank of America’s addition of the stock to its “US 1 List.” Corning surges to record high: is the AI boom just beginning?
- Neutral Sentiment: Corning was also highlighted in a broader bullish piece on how to play the stock after its sharp year-to-date gain, but the article noted risks from competition and cyclical end markets. Corning Surges 137.4% Year to Date: How to Play the Stock
- Negative Sentiment: Three Corning executives disclosed stock sales on May 11, which can sometimes temper enthusiasm despite the broader bullish backdrop.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the company. Truist Financial boosted their price target on Corning from $125.00 to $149.00 and gave the company a "hold" rating in a report on Wednesday, April 29th. Susquehanna boosted their price target on Corning from $125.00 to $180.00 and gave the company a "positive" rating in a report on Wednesday, April 29th. HSBC reiterated a "buy" rating and issued a $135.00 price target on shares of Corning in a report on Friday, February 13th. Barclays boosted their price target on Corning from $149.00 to $180.00 and gave the company an "equal weight" rating in a report on Friday. Finally, Fox Advisors lowered Corning from an "overweight" rating to an "equal weight" rating in a report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $177.92.
Read Our Latest Stock Analysis on Corning
Institutional Trading of Corning
A number of hedge funds have recently bought and sold shares of GLW. Capital Research Global Investors purchased a new stake in Corning during the third quarter worth $907,164,000. Norges Bank purchased a new stake in Corning during the fourth quarter worth $921,435,000. WCM Investment Management LLC purchased a new stake in Corning during the third quarter worth $676,931,000. Wellington Management Group LLP lifted its holdings 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 buying an additional 3,848,540 shares during the period. Finally, Polar Capital Holdings Plc lifted its holdings in Corning by 141.2% during the third quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker's stock worth $329,035,000 after buying an additional 2,348,125 shares during the period. Hedge funds and other institutional investors own 69.80% of the company's stock.
Corning Company Profile
(
Get Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
