Needham & Company Maintains a 'Buy' on Kopin Corp (KOPN); Raising Price Target on Robust Long Term Growth Rate

Needham & Company maintains a 'Buy' on Kopin Corp (NASDAQ: KOPN) price target raised from $5.50 to $6.

Needham analyst says, "We maintain our rating and increase our price target following a solid June quarter. KOPN is enjoying significant growth in its III-V business as the dominant supplier of HBT material to power amplifiers in smartphones. The market trend towards multi-mode, multi-band smartphones is accelerating and KOPN is well positioned to capitalize. Moreover, after some uncertainty around the military business, the military design pipeline is strong entering 2012, which should be accretive to gross margins. With the III-V business expected to grow 25% over the next several years and a rebound in military, KOPN represents one of the few small-cap, semiconductor companies poised to grow significantly."

"We are increasing our 2011 and 2012 estimates to $135.0MM/$0.19 (vs. $138.1MM/$0.17) and $170.0MM/$0.30 (vs. $160.0MM/$0.20), respectively."

For more ratings news on Kopin Corp click here and for the rating history of Kopin Corp click here.

Shares of Kopin Corp closed at $4.49 yesterday.

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