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Susquehanna Sticks to Their Buy Rating for Corning (GLW)

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Susquehanna analyst Mehdi Hosseini reiterated a Buy rating on Corning (GLWResearch Report) today and set a price target of $48.00. The company’s shares closed last Monday at $36.59.

According to TipRanks.com, Hosseini is a 5-star analyst with an average return of 11.7% and a 55.1% success rate. Hosseini covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Keysight Technologies, and National Instruments.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Corning with a $48.13 average price target.

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Based on Corning’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $3.68 billion and net profit of $487 million. In comparison, last year the company earned revenue of $3.35 billion and had a net profit of $252 million.

Based on the recent corporate insider activity of 100 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GLW in relation to earlier this year. Most recently, in February 2022, David L. Morse, the Exec. VP & Chief Tech. Officer of GLW sold 47 shares for a total of $1,974.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Corning, Inc. develops and manufactures specialty glass and ceramics. It provides glass for notebook computers, flat panel desktop monitors, display televisions, and other information display applications; carrier network and enterprise network products for the telecommunications industry; ceramic substrates for gasoline and diesel engines in automotive and heavy duty vehicle markets; laboratory products for the scientific community and specialized polymer products for biotechnology applications; advanced optical materials for the semiconductor industry and the scientific community; and other technologies. It operates through the following business segments: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials and Life Sciences. The Display Technologies segment manufactures glass substrates for high performance displays, including organic light-emitting diode and liquid crystal displays that are used primarily in televisions, notebook computers and flat panel desktop monitors. The Optical Communications segment is classified into two main product groupings: carrier and enterprise network. The carrier network group consists primarily of products and solutions for optical-based communications infrastructure for services such as video, data and voice communications. The enterprise network group consists primarily of optical-based communication networks sold to businesses, governments and individuals for their own use. The Environmental Technologies segment manufactures ceramic substrates and filter products for emissions control in mobile and stationary applications around the world. The Specialty Materials segment manufactures products that provide material formulations for glass, glass ceramics and fluoride crystals to meet demand for unique customer needs. The Life Sciences segment develops, manufactures and supplies scientific laboratory products. The company was founded by Amory Houghton Sr. in 1851 and is headquartered in Corning, NY.

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