Vanguard Group Inc. Purchases 842,858 Shares of Microvision, Inc. $MVIS

Key Points

• Vanguard Group Inc. increased its stake in Microvision, Inc. by 5.3% during the first quarter, now owning approximately 6.81% of the company worth $20.76 million.
• Microvision's stock has faced recent downgrades, with Wall Street Zen lowering its rating from "hold" to "sell," while other analysts still maintain a "buy" rating with price targets around $2.00 to $2.50.
• For the most recent quarter, Microvision reported an EPS of ($0.06), meeting analysts’ expectations, but with revenue significantly below estimates at $0.20 million against a prediction of $0.60 million.

Vanguard Group Inc. boosted its position in shares of Microvision, Inc. (NASDAQ:MVIS - Free Report) by 5.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,743,519 shares of the electronics maker's stock after acquiring an additional 842,858 shares during the quarter. Vanguard Group Inc. owned 6.81% of Microvision worth $20,762,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Tower Research Capital LLC TRC raised its holdings in shares of Microvision by 226.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 22,852 shares of the electronics maker's stock valued at $30,000 after purchasing an additional 15,861 shares during the period. Parr Mcknight Wealth Management Group LLC bought a new position in Microvision during the fourth quarter worth about $44,000. Private Advisor Group LLC raised its stake in Microvision by 22.5% in the first quarter. Private Advisor Group LLC now owns 51,758 shares of the electronics maker's stock valued at $64,000 after buying an additional 9,500 shares during the period. Two Sigma Advisers LP bought a new stake in Microvision in the fourth quarter valued at approximately $65,000. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Microvision in the fourth quarter valued at approximately $92,000. Institutional investors own 30.90% of the company's stock.

Microvision Stock Performance

Shares of MVIS stock traded down $0.01 on Thursday, hitting $1.10. The company's stock had a trading volume of 2,647,363 shares, compared to its average volume of 3,763,525. Microvision, Inc. has a fifty-two week low of $0.80 and a fifty-two week high of $1.95. The company has a market capitalization of $331.06 million, a PE ratio of -2.82 and a beta of 1.59. The stock's 50 day moving average is $1.18 and its 200-day moving average is $1.20.

Microvision (NASDAQ:MVIS - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The electronics maker reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.06). Microvision had a negative net margin of 3,470.59% and a negative return on equity of 146.46%. The firm had revenue of $0.20 million during the quarter, compared to the consensus estimate of $0.60 million.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. D. Boral Capital restated a "buy" rating and issued a $3.00 price target on shares of Microvision in a research note on Tuesday. Wall Street Zen downgraded shares of Microvision from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. Finally, Westpark Capital reissued a "buy" rating and issued a $2.00 price objective on shares of Microvision in a research report on Wednesday, August 27th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Microvision presently has a consensus rating of "Buy" and a consensus price target of $2.50.

Microvision Company Profile

MicroVision, Inc develops and sells lidar sensors and software used in automotive safety and autonomous driving applications. It offers a suite of light detection and ranging (lidar) sensors and perception; and validation software for automotive OEMs, advanced driver-assistance systems, and autonomous vehicle applications, as well as non-automotive applications including industrial, robotics, and smart infrastructure.