Brokers Set Expectations for MicroVision, Inc.’s FY2023 Earnings (NASDAQ:MVIS)
MicroVision, Inc. (NASDAQ:MVIS – Get Rating) – Analysts at Cantor Fitzgerald issued their FY2023 EPS estimates for MicroVision in a research report issued on Monday, June 6th. Cantor Fitzgerald analyst A. Sheppard anticipates that the electronics maker will post earnings of ($0.38) per share for the year. Cantor Fitzgerald has a “Neutral” rating and a $5.00 price objective on the stock.
MicroVision (NASDAQ:MVIS – Get Rating) last released its earnings results on Wednesday, April 27th. The electronics maker reported ($0.08) EPS for the quarter. MicroVision had a negative net margin of 2,114.59% and a negative return on equity of 36.14%. The business had revenue of $0.35 million for the quarter. During the same period in the previous year, the company posted ($0.04) earnings per share.
Separately, Zacks Investment Research lowered shares of MicroVision from a “hold” rating to a “sell” rating in a research note on Tuesday, May 10th.
MVIS stock opened at $3.89 on Wednesday. MicroVision has a 12 month low of $2.50 and a 12 month high of $24.69. The firm has a 50 day simple moving average of $3.55 and a 200 day simple moving average of $4.30.
Several large investors have recently modified their holdings of MVIS. Wells Fargo & Company MN lifted its position in shares of MicroVision by 1,495.0% in the 2nd quarter. Wells Fargo & Company MN now owns 56,209 shares of the electronics maker’s stock valued at $941,000 after acquiring an additional 52,685 shares in the last quarter. Morgan Stanley increased its stake in MicroVision by 60.9% in the 2nd quarter. Morgan Stanley now owns 276,577 shares of the electronics maker’s stock valued at $4,632,000 after buying an additional 104,653 shares during the period. Geode Capital Management LLC increased its stake in MicroVision by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,830,546 shares of the electronics maker’s stock valued at $31,277,000 after buying an additional 86,222 shares during the period. Credit Suisse AG increased its stake in MicroVision by 22.3% in the 3rd quarter. Credit Suisse AG now owns 112,546 shares of the electronics maker’s stock valued at $1,243,000 after buying an additional 20,498 shares during the period. Finally, Voya Investment Management LLC increased its stake in MicroVision by 2.9% in the 3rd quarter. Voya Investment Management LLC now owns 64,162 shares of the electronics maker’s stock valued at $709,000 after buying an additional 1,802 shares during the period. Institutional investors and hedge funds own 28.72% of the company’s stock.
MicroVision Company Profile (Get Rating)
MicroVision, Inc develops lidar sensors used in automotive safety and autonomous driving applications. Its laser beam scanning technology is based on micro-electrical mechanical systems, laser diodes, opto-mechanics, electronics, algorithms, and software. The company also develops micro-display concepts and designs for head-mounted augmented reality (AR) headsets, as well as 1440i MEMS module that can support AR headsets; Interactive Display modules used in smart speakers and other devices; and Consumer Lidar used in smart home systems.
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