Victory Capital Management Inc. Purchases 16,619 Shares of MicroVision, Inc. (NASDAQ:MVIS)

Victory Capital Management Inc. boosted its position in shares of MicroVision, Inc. (NASDAQ:MVIS) by 41.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 56,287 shares of the electronics maker’s stock after acquiring an additional 16,619 shares during the quarter. Victory Capital Management Inc.’s holdings in MicroVision were worth $622,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Swiss National Bank bought a new stake in MicroVision during the 2nd quarter valued at $5,832,000. Price T Rowe Associates Inc. MD raised its holdings in MicroVision by 50.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 80,039 shares of the electronics maker’s stock worth $1,341,000 after purchasing an additional 26,839 shares in the last quarter. Macquarie Group Ltd. bought a new position in MicroVision in the 2nd quarter worth $87,000. The Manufacturers Life Insurance Company bought a new position in MicroVision in the 2nd quarter worth $1,474,000. Finally, Paradigm Strategies in Wealth Management LLC raised its holdings in MicroVision by 40.3% in the 3rd quarter. Paradigm Strategies in Wealth Management LLC now owns 47,653 shares of the electronics maker’s stock worth $527,000 after purchasing an additional 13,700 shares in the last quarter. Institutional investors own 24.55% of the company’s stock.

NASDAQ:MVIS opened at $3.86 on Friday. The firm’s 50-day moving average price is $6.48 and its 200-day moving average price is $10.58. The company has a market capitalization of $633.44 million, a PE ratio of -18.38 and a beta of 3.43. MicroVision, Inc. has a 1-year low of $3.74 and a 1-year high of $28.00.

MicroVision (NASDAQ:MVIS) last released its earnings results on Thursday, October 28th. The electronics maker reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.02). MicroVision had a negative return on equity of 31.99% and a negative net margin of 1,460.44%. The business had revenue of $0.72 million during the quarter, compared to analysts’ expectations of $0.90 million. During the same period in the prior year, the company earned ($0.02) earnings per share. As a group, analysts expect that MicroVision, Inc. will post -0.27 EPS for the current fiscal year.

Several research analysts have commented on MVIS shares. Zacks Investment Research lowered shares of MicroVision from a “hold” rating to a “sell” rating in a report on Tuesday, January 4th. HC Wainwright restated a “neutral” rating on shares of MicroVision in a report on Tuesday, November 2nd.

In related news, Director Simon Biddiscombe sold 30,000 shares of the stock in a transaction dated Thursday, December 9th. The shares were sold at an average price of $6.89, for a total transaction of $206,700.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company’s stock.

About MicroVision

MicroVision, Inc engages in the development of laser beam scanning technology. It offers its product under the PicoP brand. PicoP scanning technology has addressing the following market segments Interactive and non-interactive projected displays, 3D Perceptive LiDAR sensing for consumer electronics, Augmented/Mixed Reality (AR/MR) and 3D Perceptive LiDAR sensing for automotive active collision avoidance.

Further Reading: Are sell-side analysts objective?

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Institutional Ownership by Quarter for MicroVision (NASDAQ:MVIS)

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