Zacks: Analysts Expect Microvision, Inc. (MVIS) Will Post Quarterly Sales of $5.93 Million

Equities analysts expect that Microvision, Inc. (NASDAQ:MVIS) will report sales of $5.93 million for the current quarter, according to Zacks. Two analysts have provided estimates for Microvision’s earnings. The highest sales estimate is $7.00 million and the lowest is $4.86 million. Microvision reported sales of $2.91 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 103.8%. The business is scheduled to report its next quarterly earnings results on Monday, March 5th.

According to Zacks, analysts expect that Microvision will report full year sales of $5.93 million for the current fiscal year, with estimates ranging from $13.19 million to $13.75 million. For the next financial year, analysts anticipate that the business will report sales of $23.27 million per share, with estimates ranging from $21.00 million to $25.54 million. Zacks’ sales calculations are an average based on a survey of research firms that follow Microvision.

Microvision (NASDAQ:MVIS) last issued its earnings results on Thursday, November 2nd. The electronics maker reported ($0.07) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.07). The company had revenue of $6.09 million for the quarter, compared to analysts’ expectations 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 revenue was up 52.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.08) earnings per share.

A number of analysts have weighed in on the stock. Zacks Investment Research cut 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 research report on Thursday, November 2nd. S&P Equity Research upped their price target on shares of Microvision from $1.75 to $2.22 in a research report on Thursday, November 2nd. Finally, HC Wainwright set a $4.00 price target on shares of Microvision and gave the stock a “buy” rating in a research report on Thursday, November 16th. Two investment analysts have rated the stock with a sell rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $3.34.

Shares of Microvision (NASDAQ MVIS) traded up $0.02 during trading hours on Monday, hitting $1.47. 619,000 shares of the company’s stock were exchanged, compared to its average volume of 1,111,500. The firm has a market capitalization of $115.53, a PE ratio of -4.45 and a beta of -0.04. Microvision has a 52 week low of $1.15 and a 52 week high of $3.25.

Institutional investors have recently added to or reduced their stakes in the company. AWM Investment Company Inc. bought a new position in Microvision in the 2nd quarter valued at about $13,997,000. State Street Corp grew its position in Microvision by 2,126.7% in the 2nd quarter. State Street Corp now owns 857,452 shares of the electronics maker’s stock valued at $1,816,000 after buying an additional 818,945 shares in the last quarter. Vanguard Group Inc. grew its position in Microvision by 40.0% in the 2nd quarter. Vanguard Group Inc. now owns 2,774,797 shares of the electronics maker’s stock valued at $5,883,000 after buying an additional 793,102 shares in the last quarter. Northern Trust Corp grew its position in Microvision by 462.3% in the 2nd quarter. Northern Trust Corp now owns 777,714 shares of the electronics maker’s stock valued at $1,648,000 after buying an additional 639,411 shares in the last quarter. Finally, State Treasurer State of Michigan grew its position in Microvision by 8.2% in the 3rd quarter. State Treasurer State of Michigan now owns 3,144,199 shares of the electronics maker’s stock valued at $8,741,000 after buying an additional 238,095 shares in the last quarter. Institutional investors and hedge funds own 30.62% of the company’s stock.

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About Microvision

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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