Royce & Associates LP Reduces Holdings in Kopin Corporation $KOPN

Key Points

• Royce & Associates LP cut its Kopin stake by 11% in the fourth quarter, selling 840,480 shares and ending with 6,778,197 shares valued at about $15.9 million.
• Wall Street sentiment remains positive: several analysts raised price targets and maintained buy ratings, with a consensus target of $7.15 and an overall “Moderate Buy” rating.
• Recent results and trading activity were mixed, as Kopin reported a small quarterly EPS miss while insiders, including the COO and CEO, sold shares under pre-arranged trading plans.

Royce & Associates LP trimmed its position in shares of Kopin Corporation (NASDAQ:KOPN - Free Report) by 11.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,778,197 shares of the company's stock after selling 840,480 shares during the quarter. Royce & Associates LP owned approximately 3.71% of Kopin worth $15,861,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the stock. HighTower Advisors LLC purchased a new stake in Kopin in the 4th quarter valued at $61,000. DNB Asset Management AS lifted its stake in Kopin by 123.2% during the 4th quarter. DNB Asset Management AS now owns 1,294,368 shares of the company's stock worth $3,029,000 after acquiring an additional 714,423 shares in the last quarter. EWA LLC acquired a new position in Kopin during the 4th quarter worth about $25,000. Sequoia Financial Advisors LLC increased its holdings in Kopin by 13.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 68,113 shares of the company's stock worth $159,000 after purchasing an additional 7,971 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Kopin by 40.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,663,821 shares of the company's stock worth $4,143,000 after purchasing an additional 481,268 shares during the period. 30.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Canaccord Genuity Group increased their price objective on Kopin from $5.50 to $6.25 and gave the company a "buy" rating in a report on Thursday, May 14th. Craig Hallum reiterated a "buy" rating and issued a $10.00 target price on shares of Kopin in a research note on Tuesday, May 12th. Lake Street Capital lifted their target price on Kopin from $5.00 to $7.00 and gave the company a "buy" rating in a research note on Wednesday, May 13th. JonesTrading began coverage on Kopin in a report on Monday, April 27th. They issued a "buy" rating and a $6.00 price target for the company. Finally, Stifel Nicolaus raised their price target on Kopin from $5.50 to $6.50 and gave the company a "buy" rating in a report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $7.15.

Kopin Price Performance

Shares of NASDAQ KOPN opened at $5.61 on Wednesday. Kopin Corporation has a 1-year low of $1.23 and a 1-year high of $6.45. The business has a 50-day moving average of $3.45 and a 200-day moving average of $2.84. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 561.56 and a beta of 3.40.

Kopin (NASDAQ:KOPN - Get Free Report) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.01). Kopin had a return on equity of 4.85% and a net margin of 5.00%.The business had revenue of $10.55 billion for the quarter, compared to analysts' expectations of $9.96 million. Research analysts expect that Kopin Corporation will post -0.02 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Paul Christopher Baker sold 58,939 shares of the firm's stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $4.90, for a total value of $288,801.10. Following the sale, the chief operating officer directly owned 420,025 shares in the company, valued at $2,058,122.50. This trade represents a 12.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 that occurred on Friday, April 17th. The shares were sold at an average price of $3.01, for a total value of $291,368.00. Following the completion of the sale, the chief executive officer owned 2,771,122 shares in the company, valued at approximately $8,341,077.22. This represents a 3.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 524,760 shares of company stock worth $1,763,275 over the last quarter. Insiders own 2.80% of the company's stock.

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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