Mitsubishi UFJ Asset Management Co. Ltd. Buys New Position in Kopin Corporation $KOPN

Key Points

• Mitsubishi UFJ Asset Management acquired 1.42 million Kopin shares worth approximately $6.37 million, representing about 0.78% of the company. Institutional investors collectively own 30.96% of Kopin.
• Analyst sentiment is generally positive: Kopin has a consensus “Moderate Buy” rating from seven analysts, with an average price target of $7.20 and individual targets ranging from $6 to $10.
• Kopin shares opened at $5.04, compared with a 12-month range of $1.75 to $6.61. The company develops microdisplays and optical components for AR, VR, medical, industrial, and defense applications.

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Kopin Corporation (NASDAQ:KOPN - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,421,529 shares of the company's stock, valued at approximately $6,368,000. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.78% of Kopin as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AMG National Trust Bank acquired a new position in shares of Kopin during the second quarter worth $650,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in shares of Kopin in the second quarter valued at $2,542,000. Abbot Financial Management Inc. acquired a new stake in Kopin during the 2nd quarter valued at $67,000. Bank of New York Mellon Corp purchased a new stake in Kopin during the 2nd quarter worth $1,906,000. Finally, State of Wyoming purchased a new stake in Kopin during the 2nd quarter worth $102,000. Hedge funds and other institutional investors own 30.96% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on KOPN. Wall Street Zen raised shares of Kopin from a "sell" rating to a "hold" rating in a research report on Saturday, August 15th. Craig Hallum reaffirmed a "buy" rating and set a $10.00 target price on shares of Kopin in a research report on Tuesday, May 12th. JonesTrading started coverage on Kopin in a research note on Monday, April 27th. They issued a "buy" rating and a $6.00 price target on the stock. Lake Street Capital increased their price target on Kopin from $5.00 to $7.00 and gave the company a "buy" rating in a report on Wednesday, May 13th. Finally, Weiss Ratings upgraded Kopin from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, August 12th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $7.20.

Kopin Price Performance

KOPN opened at $5.04 on Friday. Kopin Corporation has a 12-month low of $1.75 and a 12-month high of $6.61. The stock has a market capitalization of $936.78 million, a PE ratio of 126.03 and a beta of 3.51. The firm's fifty day moving average price is $4.22 and its 200 day moving average price is $3.67.

Kopin Company 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.

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