Telemark Asset Management LLC Purchases 2,000,000 Shares of Kopin Corporation $KOPN

Telemark Asset Management LLC raised its position in shares of Kopin Corporation (NASDAQ:KOPN) by 40.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,000,000 shares of the company’s stock after acquiring an additional 2,000,000 shares during the period. Kopin makes up 1.6% of Telemark Asset Management LLC’s portfolio, making the stock its 20th biggest holding. Telemark Asset Management LLC’s holdings in Kopin were worth $16,380,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of KOPN. EWA LLC bought a new stake in Kopin during the fourth quarter valued at about $25,000. Prudential Financial Inc. bought a new stake in Kopin during the second quarter valued at about $25,000. Legal & General Group Plc bought a new stake in Kopin during the second quarter valued at about $25,000. Russell Investments Group Ltd. bought a new stake in Kopin during the third quarter valued at about $33,000. Finally, AE Wealth Management LLC boosted its holdings in Kopin by 68.7% during the third quarter. AE Wealth Management LLC now owns 16,873 shares of the company’s stock valued at $41,000 after acquiring an additional 6,873 shares during the period. 30.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

KOPN has been the subject of a number of recent analyst reports. Zacks Research cut shares of Kopin from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Stifel Nicolaus increased their target price on shares of Kopin from $5.50 to $6.50 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Canaccord Genuity Group increased their target price on shares of Kopin from $5.50 to $6.25 and gave the company a “buy” rating in a research note on Thursday, May 14th. Lake Street Capital increased their target price on shares of Kopin from $5.00 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Finally, Wall Street Zen upgraded shares of Kopin from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 2nd. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $7.15.

Kopin Stock Performance

NASDAQ KOPN opened at $5.46 on Friday. The firm has a 50-day simple moving average of $4.06 and a 200 day simple moving average of $3.02. Kopin Corporation has a twelve month low of $1.44 and a twelve month high of $6.61. The stock has a market cap of $998.74 million, a PE ratio of 546.55 and a beta of 3.43.

Kopin (NASDAQ:KOPN) last released its earnings results on Tuesday, May 12th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Kopin had a net margin of 5.00% and a return on equity of 4.85%. The company had revenue of $10.55 million during the quarter, compared to the consensus estimate of $9.96 million. Research analysts forecast that Kopin Corporation will post -0.02 earnings per share for the current fiscal year.

Insider Activity

In other Kopin news, COO Paul Christopher Baker sold 58,939 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $4.90, for a total transaction of $288,801.10. Following the completion of the transaction, the chief operating officer owned 420,025 shares in the company, valued at $2,058,122.50. This trade represents a 12.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Andrew Murray sold 96,800 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $3.01, for a total transaction of $291,368.00. Following the transaction, the chief executive officer owned 2,771,122 shares of the company’s stock, valued at approximately $8,341,077.22. This represents a 3.38% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 524,760 shares of company stock valued at $1,763,275. 2.80% of the stock is owned by corporate insiders.

Kopin Profile

Kopin Corporation (NASDAQ: KOPN) is a technology company specializing in the development and manufacture of high-resolution microdisplays and optical components for wearable electronics. Headquartered in Westborough, Massachusetts, Kopin designs both liquid crystal on silicon (LCOS) and organic light-emitting diode (OLED) microdisplays, as well as complete display engines and optical modules tailored for use in augmented reality (AR), virtual reality (VR), industrial, medical, and defense applications.