Schwab Charles Investment Management Inc. Acquires New Holdings in Microvision, Inc. (MVIS)
Schwab Charles Investment Management Inc. acquired a new position in Microvision, Inc. (NASDAQ:MVIS) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 117,700 shares of the electronics maker’s stock, valued at approximately $250,000. Schwab Charles Investment Management Inc. owned 0.17% of Microvision at the end of the most recent reporting period.
Separately, Bank of New York Mellon Corp lifted its holdings in shares of Microvision by 13.7% during the first quarter. Bank of New York Mellon Corp now owns 43,935 shares of the electronics maker’s stock valued at $109,000 after purchasing an additional 5,283 shares during the last quarter. 27.45% of the stock is currently owned by institutional investors and hedge funds.
Shares of Microvision, Inc. (NASDAQ:MVIS) opened at $1.64 on Friday. Microvision, Inc. has a 1 year low of $1.01 and a 1 year high of $3.25.
Microvision (NASDAQ:MVIS) last announced its quarterly earnings results on Thursday, November 2nd. The electronics maker reported ($0.07) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.07). The company had revenue of $6.09 million during the quarter, compared to the consensus estimate of $5.24 million. Microvision had a negative net margin of 193.59% and a negative return on equity of 335.81%. The firm’s quarterly revenue was up 52.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.08) earnings per share. research analysts forecast that Microvision, Inc. will post -0.3 earnings per share for the current year.
MVIS has been the subject of several recent research reports. Northland Securities set a $3.00 target price on shares of Microvision and gave the company a “buy” rating in a report on Friday, August 4th. S&P Equity Research lifted their target price on shares of Microvision from $1.75 to $2.22 in a report on Thursday, November 2nd. Zacks Investment Research lowered shares of Microvision from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. ValuEngine lowered shares of Microvision from a “hold” rating to a “sell” rating in a report on Thursday, November 2nd. Finally, HC Wainwright set a $4.00 target price on shares of Microvision and gave the company a “buy” rating in a report on Friday, August 4th. Two research analysts have rated the stock with a sell rating and three have given a buy rating to the company. Microvision has a consensus rating of “Hold” and an average price target of $3.24.
Microvision, Inc is a developer of laser beam scanning (LBS) technology. The Company markets its technology under the brand name, PicoP. It has developed PicoP scanning technology that can be adopted by its customers to create high-resolution miniature projection, and three-dimensional sensing and image capture solutions that use laser diodes as the light source.
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