Kopin (KOPN)
Builds rugged microdisplay modules and optical systems for defense, industrial, and medical use.
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Sells microdisplays, optical modules, spatial light modulators, and development work, with defense programs as the main commercial center. Operations are concentrated in the United States, while manufacturing and technology work also use Taiwan foundries, Scotland facilities, and third-party OLED partners.
Sells microdisplays, optical modules, spatial light modulators, and application-specific optical systems for defense, industrial, medical, consumer AR/VR, and emerging AI optical-interconnect uses.
The current portfolio spans AMLCD, LCOS, OLED, FLCoS, and MicroLED displays, plus optics, electronics, housings, drivers, ASICs, lenses, and backlights. Most revenue is generated in the United States, with defense applications remaining the commercial center.
Execution depends on customer-funded development, long defense qualification cycles, and specialized manufacturing partners, including Taiwan foundry work and third-party OLED deposition. Current structural dependencies include U.S. Government and prime-contractor program funding, concentrated defense customers, the Theon collaboration around military products, and the unresolved BlueRadios appeal.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 17, 2026 | Oppenheimer | Initiate | Rating: —Target: — | Target: $7 |
| Aug 14, 2026 | Canaccord Genuity | Reiterate | Rating: —Target: $6.25 | Target: $6.50 |
| May 14, 2026 | Canaccord Genuity | Reiterate | Rating: —Target: $3 | Target: $6.25 |
| May 13, 2026 | Lake Street | Reiterate | Rating: —Target: $5 | Target: $7 |
| May 12, 2026 | Craig-Hallum | Target | Target: $6 | Target: $10 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 27, 2026Cash & short-term investments $24.9M · Total debt $1.2M · Total assets $106.3M · Shareholders' equity $69.2M
- Revenue
- $12.7M
- Operating income
- −$3.5M
- Net income
- $830.9K
No dividends on record.
| Institutions | ≈ 55.08% | 102.38M shares | |
|---|---|---|---|
| 217 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 2.73% | 5.07M shares | |
| 8 holders · as of Jun 12, 2026 | |||
| Strategic holders | 5.40% | 10.03M shares | |
| 1 holder · as of Nov 6, 2025 | |||
| Other | ≈ 36.79% | 68.39M shares | |
| remainder | |||
185.87M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
State Street CorpInstitution | 9.21% | 17.13M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 7.95% | 14.78M | as of Jun 30, 2026 |
Theon International Plc.Strategic | 5.40% | 10.03M | filed Nov 6, 2025 |
Awm Investment Company, Inc.Institution | 4.32% | 8.02M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 4.16% | 7.73M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 6, 2026 | Paul Christopher Baker | officer: Chief Operating Officer | −58,939 | $4.90 |
| May 5, 2026 | Paul Christopher Baker | officer: Chief Operating Officer | −1,041 | $4.90 |
| Apr 28, 2026 | Paul Christopher Baker | officer: Chief Operating Officer | −116,860 | $3.95 |
| Apr 17, 2026 | Michael Andrew Murray | director, officer: CEO | −96,800 | $3.01 |
| Apr 15, 2026 | Michael Andrew Murray | director, officer: CEO | −63,200 | $3.01 |
- Himax Technologies (ADR)
Direct LCoS microdisplay and AR optical-module overlap
- Sony (ADR)
OLED microdisplay supplier for AR, VR, EVF, and scopes
- LG Display (ADR)
Large OLED and TFT-LCD panel peer across display markets
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Kopin | $4.88 | −1.32% | $915.4M | 112.0 | — | 21.0 | +50.2% |
| Himax Technologies (ADR) | $14.31 | −2.74% | $2.57B | 74.1 | 16.6 | 3.1 | +5.9% |
| Sony (ADR) | $23.27 | −0.66% | $137.53B | — | 27.4 | 1.7 | +0.3% |
| LG Display (ADR) | $2.98 | −2.14% | $3.04B | — | 15.0 | 0.2 | −5.5% |
| Median | 74.1 | 16.6 | 1.7 | +0.3% |