The original initiated price of this coverage was $1.31. The underlying security experienced a 1:8 split on 2/17/12, which adjusted the initiated price and target price of this coverage.
I have kept track of MVIS over the past 4 years. It has been battered by the markets. Since its product (embedded laser projector) is something that needs to be produced in volume, it only needs a few 'big name' orders to ramp up production. Recently it has been very successful at ramping up production and partner up with consumer electronics companies. These partnerships are now in the pipeline (e.g. Pioneer, Delphi)
Their first OEM product will be coming out in H2 2011, and once 1 product (tablet with built in projector) exists on the market others will play the 'me too' game. Microvision will only need to keep volume up with demand.
This company has the following strengths
- Professional, experienced leadership
- Strong patent portfolio (acquired Symbol laser projection patents)
- Disruptive technology at least 4 years in development: nobody on the market has a competitive product in development