Mitsubishi UFJ Asset Management Co. Ltd. Decreases Holdings in Microvision, Inc. $MVIS

Mitsubishi UFJ Asset Management Co. Ltd. trimmed its holdings in shares of Microvision, Inc. (NASDAQ:MVIS) by 41.2% in the fourth quarter, Holdings Channel reports. The firm owned 2,087,682 shares of the electronics maker’s stock after selling 1,464,542 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Microvision were worth $1,857,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in MVIS. Russell Investments Group Ltd. purchased a new stake in Microvision during the 3rd quarter worth $26,000. BNP Paribas Financial Markets boosted its position in Microvision by 114.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 25,744 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 13,735 shares during the period. Focus Partners Wealth purchased a new stake in Microvision during the 1st quarter worth $32,000. CIBC Bancorp USA Inc. purchased a new stake in Microvision during the 3rd quarter worth $33,000. Finally, Prudential Financial Inc. boosted its position in Microvision by 77.4% in the 2nd quarter. Prudential Financial Inc. now owns 30,520 shares of the electronics maker’s stock valued at $35,000 after buying an additional 13,315 shares during the last quarter. 30.90% of the stock is owned by hedge funds and other institutional investors.

Microvision Price Performance

NASDAQ:MVIS opened at $0.73 on Tuesday. The firm has a 50-day moving average of $0.64 and a two-hundred day moving average of $0.82. The stock has a market cap of $237.32 million, a P/E ratio of -2.07 and a beta of 1.21. Microvision, Inc. has a 1-year low of $0.51 and a 1-year high of $1.73.

Microvision (NASDAQ:MVIS) last posted its quarterly earnings data on Wednesday, March 4th. The electronics maker reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.07). The firm had revenue of $0.22 million during the quarter, compared to analysts’ expectations of $3.00 million. Microvision had a negative net margin of 7,862.67% and a negative return on equity of 137.37%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MVIS. Wall Street Zen cut shares of Microvision from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 7th. D. Boral Capital cut shares of Microvision from a “buy” rating to a “hold” rating in a research report on Thursday, March 5th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $2.50.

Microvision Profile

MicroVision, Inc (NASDAQ: MVIS) is a technology company specializing in laser scanning and sensing solutions. Founded in 1993 and headquartered in Redmond, Washington, MicroVision develops its proprietary PicoP® scanning technology, which integrates miniature lasers and microelectromechanical systems (MEMS) mirrors to create high-resolution projection displays and three-dimensional sensing systems. Over the years, the company has built a portfolio of patents and intellectual property focused on precision optics and laser-based signal processing.

At the core of MicroVision’s offerings is its display platform, which enables compact, energy-efficient projection for augmented reality (AR) headsets, head-up displays (HUDs) in automotive environments, and consumer electronics applications such as pico projectors.