Kopin Corporation (NASDAQ:KOPN) Stock Rating Reaffirmed by Needham & Company LLC
“While Kopin gave a significant 2H17 guide (rev. up 70% compared to 1H17) and spoke towards AR/VR headset traction (5 to be introduced by years end) as well as progress on its Whisper Chip technology, we remain cautious towards its near term prospects as business remains lumpy. We could become more constructive on the name if we see a clear inflection point in its business lines as we believe Kopin is targeting major areas of growth in the semiconductor space: AR/VR, voice HMI, and OLED.”,” Needham & Company LLC’s analyst wrote.
Separately, BidaskClub raised shares of Kopin Corporation from a hold rating to a buy rating in a report on Thursday, July 6th.
Kopin Corporation (NASDAQ KOPN) traded down 4.77% on Tuesday, hitting $3.59. 447,575 shares of the stock were exchanged. The company has a 50-day moving average of $3.78 and a 200-day moving average of $3.70. Kopin Corporation has a 12 month low of $1.93 and a 12 month high of $4.49. The stock’s market cap is $253.55 million.
Kopin Corporation (NASDAQ:KOPN) last released its quarterly earnings data on Tuesday, August 8th. The semiconductor company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.08) by $0.02. Kopin Corporation had a negative net margin of 125.80% and a negative return on equity of 36.44%. The company had revenue of $5.93 million for the quarter. During the same period last year, the firm earned ($0.05) earnings per share. On average, equities analysts predict that Kopin Corporation will post ($0.35) EPS for the current year.
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In other Kopin Corporation news, insider Bor Yeu Tsaur sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $4.00, for a total transaction of $200,000.00. Following the completion of the sale, the insider now directly owns 609,966 shares of the company’s stock, valued at $2,439,864. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Richard Sneider sold 65,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $4.00, for a total transaction of $260,000.00. Following the sale, the chief financial officer now directly owns 292,138 shares of the company’s stock, valued at $1,168,552. The disclosure for this sale can be found here. 8.70% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Kopin Corporation by 7.4% in the second quarter. Vanguard Group Inc. now owns 3,396,076 shares of the semiconductor company’s stock worth $12,599,000 after buying an additional 234,252 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Kopin Corporation by 15.9% in the second quarter. Northern Trust Corp now owns 776,790 shares of the semiconductor company’s stock worth $2,883,000 after buying an additional 106,560 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Kopin Corporation by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,496,970 shares of the semiconductor company’s stock worth $7,092,000 after buying an additional 85,876 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Kopin Corporation by 101.4% in the first quarter. Bank of America Corp DE now owns 94,960 shares of the semiconductor company’s stock worth $390,000 after buying an additional 47,810 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY acquired a new stake in shares of Kopin Corporation during the first quarter worth approximately $192,000. 47.90% of the stock is owned by institutional investors and hedge funds.
About Kopin Corporation
Kopin Corporation is a developer, manufacturer and seller of Wearable technologies, which include components and systems. The Company’s segments are Forth Dimension Displays Ltd. (FDD), the manufacturer of its reflective display products for test and simulation products, and Kopin, which consists of Kopin Corporation, Kowon, Kopin Software Ltd.
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