Telemark Asset Management LLC Has $16.38 Million Stock Holdings in Kopin Corporation $KOPN

Key Points

• Telemark Asset Management LLC boosted its Kopin stake by 40% in the fourth quarter, buying 2 million additional shares and ending with 7 million shares worth about $16.38 million.
• Kopin’s stock opened at $5.46, near its 52-week high of $6.61, and the company now has a market value of roughly $999 million.
• Recent earnings and insider activity were mixed: Kopin missed EPS estimates but beat revenue expectations, while top executives sold shares through pre-arranged trading plans and analysts currently rate the stock a Moderate Buy.

Telemark Asset Management LLC lifted its stake in Kopin Corporation (NASDAQ:KOPN - Free Report) by 40.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,000,000 shares of the company's stock after acquiring an additional 2,000,000 shares during the quarter. Kopin makes up 1.6% of Telemark Asset Management LLC's portfolio, making the stock its 20th biggest holding. Telemark Asset Management LLC owned 3.84% of Kopin worth $16,380,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of KOPN. Geode Capital Management LLC increased its stake in shares of Kopin by 106.8% in the second quarter. Geode Capital Management LLC now owns 3,497,900 shares of the company's stock worth $5,353,000 after acquiring an additional 1,806,632 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Kopin by 113,958.1% in the second quarter. JPMorgan Chase & Co. now owns 70,716 shares of the company's stock worth $108,000 after acquiring an additional 70,654 shares during the last quarter. Legal & General Group Plc acquired a new position in shares of Kopin in the second quarter worth $25,000. Rhumbline Advisers acquired a new position in shares of Kopin in the second quarter worth $259,000. Finally, Prudential Financial Inc. acquired a new position in shares of Kopin in the second quarter worth $25,000. 30.96% of the stock is owned by institutional investors and hedge funds.

Kopin Price Performance

Kopin stock opened at $5.46 on Friday. The company has a market capitalization of $998.74 million, a price-to-earnings ratio of 546.55 and a beta of 3.43. Kopin Corporation has a one year low of $1.44 and a one year high of $6.61. The company's fifty day moving average price is $4.06 and its two-hundred day moving average price is $3.02.

Kopin (NASDAQ:KOPN - Get Free Report) last posted its earnings results on Tuesday, May 12th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The business had revenue of $10.55 million for the quarter, compared to analyst estimates of $9.96 million. Kopin had a return on equity of 4.85% and a net margin of 5.00%. As a group, sell-side analysts anticipate that Kopin Corporation will post -0.02 earnings per share for the current year.

Insider Buying and Selling at Kopin

In other Kopin news, COO Paul Christopher Baker sold 116,860 shares of the stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $3.95, for a total transaction of $461,597.00. Following the transaction, the chief operating officer directly owned 480,005 shares of the company's stock, valued at $1,896,019.75. This represents a 19.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Andrew Murray sold 187,920 shares of the stock in a transaction on Monday, April 13th. The stock was sold at an average price of $2.80, for a total transaction of $526,176.00. Following the transaction, the chief executive officer directly owned 2,931,122 shares in the company, valued at $8,207,141.60. The trade was a 6.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 524,760 shares of company stock worth $1,763,275 over the last three months. Company insiders own 2.80% of the company's stock.

Analyst Ratings Changes

KOPN has been the topic of a number of research reports. Zacks Research downgraded shares of Kopin from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 26th. JonesTrading initiated coverage on shares of Kopin in a research note on Monday, April 27th. They issued a "buy" rating and a $6.00 price target on the stock. Stifel Nicolaus upped their price target on shares of Kopin from $5.50 to $6.50 and gave the stock a "buy" rating in a research note on Wednesday, May 13th. Weiss Ratings raised shares of Kopin from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, May 28th. Finally, Canaccord Genuity Group increased their target price on shares of Kopin from $5.50 to $6.25 and gave the stock a "buy" rating in a research report on Thursday, May 14th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Kopin presently has an average rating of "Moderate Buy" and an average price target of $7.15.

About Kopin

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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