Corning (GLW)

Corning is one of the world's leading innovators in materials science, with a 169-year track record of life-changing inventions. Corning applies its unparalleled expertise in glass science, ceramic science, and optical physics along with its deep manufacturing and engineering capabilities to develop category-defining products that transform industries and enhance people's lives. Corning succeeds through sustained investment in RD&E, a unique combination of material and process innovation, and deep, trust-based relationships with customers who are global leaders in their industries. Corning's capabilities are versatile and synergistic, which allows the company to evolve to meet changing market needs, while also helping our customers capture new opportunities in dynamic industries. Today, Corning's markets include optical communications, mobile consumer electronics, display, automotive, and life sciences.

Company profile

Ticker

GLW

Exchange

NYSE

Website

www.corning.com

CEO

Wendell Weeks

Incorporated

New York

Location

New York

Fiscal year end

Dec 31

Sector

Manufacturing > Bare Printed Circuit Board Manufacturing

Industry (SIC)

Drawing & Insulating of Nonferrous Wire

Asia Pacific Wire & Cable • Belden • Optical Cable • General Cable ...

SEC CIK

0000024741

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

Alliance Fiber Optic Products, Inc. • Axygen Bioscience, Inc. • Axygen Holdings Corporation • Axygen, Inc. • Corning (Hainan) Optical Communications Co., Ltd. • Corning (Shanghai) Co., Ltd. • Corning Automotive Glass Solutions (Hefei) Co., Ltd. • Corning B.V. • Corning Display Technologies (China) Co., Ltd. • Corning Display Technologies (Chongqing) Co., Ltd. ...

IRS number

160393470

GLW stock data

1M 1Y 5Y

News

From Benzinga Pro

Looking Into Corning's Recent Short Interest

2 Aug 22

Corning's (NYSE:GLW) short percent of float has risen 16.02% since its last report. The company recently reported that it has 20.40 million shares sold short, which is 2.68% of all regular shares that are available for trading.

$100 Invested In Corning 20 Years Ago Would Be Worth This Much Today

1 Aug 22

Corning (NYSE:GLW) has outperformed the market over the past 20 years by 9.21% on an annualized basis producing an average annual return of 17.04%. Currently, Corning has a market capitalization of $30.08 billion.

Deutsche Bank Maintains Hold Rating for Corning: Here's What You Need To Know

27 Jul 22

Deutsche Bank has decided to maintain its Hold rating of Corning (NYSE:GLW) and lower its price target from $44.00 to $39.00. Shares of Corning are trading up 1.17% over the last 24 hours, at $35.35 per share. A move to $39.00 would account for a 10.33% increase from the current share price.

Expert Ratings for Corning

27 Jul 22

Susquehanna Maintains Positive on Corning, Lowers Price Target to $46

27 Jul 22

Press releases

From Benzinga Pro

Gladstone Commercial Corporation Executes 5-Year Lease Renewal at Industrial Property in Horseheads, New York

4 Aug 22

MCLEAN, VA / ACCESSWIRE / August 4, 2022 / Gladstone Commercial Corporation (NASDAQ:GOOD) ("Gladstone Commercial") announced today that it executed a 5-year lease renewal with Corning, Inc.

Corning Reports Strong Second-Quarter Results Highlighted by Continued Growth and Improved Profitability

26 Jul 22

CORNING, N.Y., July 26, 2022 (GLOBE NEWSWIRE) -- Corning Incorporated (NYSE:GLW) today announced second-quarter 2022 results and provided its outlook for third-quarter and full-year 2022. "Corning executed

Corning Announces Quarterly Dividend

29 Jun 22

CORNING, N.Y., June 29, 2022 (GLOBE NEWSWIRE) -- Corning Incorporated's (NYSE:GLW) Board of Directors today declared a quarterly dividend of $0.27 per share on the company's common stock. The dividend will be payable

5G Technologies Could Revolutionize Cloud Computing Capabilities

23 Jun 22

5E Advanced Materials Signs Letter of Intent With Corning Incorporated

6 Jun 22

Analyst ratings and price targets

Last 3 months

Average target

$39.00

Low target

$37.00

High target

$41.00

Calendar

29 Jul 22

16 Aug 22

31 Dec 22

Financial summary

Financial statements Chart GLW financial data

Quarter (USD)	Jun 22	Mar 22	Dec 21	Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 21	Dec 20	Dec 19	Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	1.63B	1.63B	1.63B	1.63B	1.63B	1.63B
Cash burn (monthly)	129M	57.58M	(no burn)	(no burn)	(no burn)	(no burn)
Cash used (since last report)	202.73M	90.49M	n/a	n/a	n/a	n/a
Cash remaining	1.43B	1.54B	n/a	n/a	n/a	n/a
Runway (months of cash)	11.1	26.7	n/a	n/a	n/a	n/a

Beta Read what these cash burn values mean

Financial data from Corning earnings reports.

Recent insider trades

GLW insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
1 Aug 22	John P Bayne JR	Common Stock - Jt. Tenant W/wife	Sell	Dispose S	Yes	No	36.705	5,575	204.63K	7,345
18 Jul 22	France Robert P.	Common Stock	Payment of exercise	Dispose F	No	No	32.77	7,658	250.95K	22,342
18 Jul 22	Schlesinger Edward A	Common Stock	Payment of exercise	Dispose F	No	No	32.77	4,084	133.83K	51,366
15 Jul 22	Jaymin Amin	Common Stock	Payment of exercise	Dispose F	No	No	33.2	10,210	338.97K	78,676
30 Jun 22	Blair Donald W	RSU Common Stock	Grant	Acquire A	No	No	31.51	1,095	34.5K	41,212

Data from 3, 4 and 5 filings. Values as filed, not updated for current price.

Institutional ownership, Q1 2022

GLW institutional ownership history Ownership history

76.8% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	1155	1157	-0.2%
Opened positions	98	173	-43.4%
Closed positions	100	113	-11.5%
Increased positions	442	396	+11.6%
Reduced positions	398	361	+10.2%

13F shares	Current	Prev Q	Change
Total value	21B	21.63B	-2.9%
Total shares	649.06M	660.91M	-1.8%
Total puts	3.81M	3.71M	+2.7%
Total calls	7.27M	3.25M	+123.9%
Total put/call ratio	0.5	1.1	-54.1%

Largest owners	Shares	Value	Change
Vanguard	92.75M	$3.42B	+0.7%
Samsung Display	80M	$0	0.0%
BLK Blackrock	54.11M	$2B	+0.7%
Wellington Management	33.36M	$1.23B	-10.5%
STT State Street	31.79M	$1.17B	-4.2%
JPM JPMorgan Chase & Co.	14.75M	$544.28M	+21.9%
AMP Ameriprise Financial	14.6M	$538.77M	-3.9%
TROW T. Rowe Price	14.56M	$537.3M	-12.6%
Geode Capital Management	14.53M	$535.26M	+1.6%
State Farm Mutual Automobile Insurance	14.53M	$536.26M	0.0%

Largest transactions	Shares	Bought/sold	Change
Norges Bank	0	-7.57M	EXIT
IVZ Invesco	3.94M	-4.67M	-54.2%
Wellington Management	33.36M	-3.91M	-10.5%
JPM JPMorgan Chase & Co.	14.75M	+2.65M	+21.9%
TROW T. Rowe Price	14.56M	-2.1M	-12.6%
Korea Investment	315.9K	-1.62M	-83.7%
STT State Street	31.79M	-1.4M	-4.2%
PRU Prudential Financial	2.03M	+1.35M	+197.7%
Envestnet Asset Management	3.08M	+1.34M	+77.1%
Caisse De Depot Et Placement Du Quebec	3.43M	-1.3M	-27.5%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.