BCGM Wealth Management LLC Boosts Stock Position in Mobileye Global Inc. $MBLY

Key Points

• BCGM Wealth Management LLC increased its Mobileye Global stake by 56.7% in the first quarter, buying an additional 133,471 shares and bringing its total to 368,763 shares worth about $2.53 million.
• Mobileye’s latest earnings topped expectations, with EPS of $0.12 versus $0.09 expected and revenue of $558 million, up 27.4% from a year earlier.
• The company also announced a $250 million share repurchase program, while Wall Street sentiment remains mixed with an average Hold rating and a $13.70 average price target.

BCGM Wealth Management LLC increased its holdings in Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 56.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 368,763 shares of the company's stock after purchasing an additional 133,471 shares during the period. BCGM Wealth Management LLC's holdings in Mobileye Global were worth $2,533,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Burkehill Global Management LP purchased a new position in shares of Mobileye Global in the 3rd quarter worth $42,360,000. Two Sigma Investments LP raised its position in shares of Mobileye Global by 131.9% during the 3rd quarter. Two Sigma Investments LP now owns 4,383,735 shares of the company's stock valued at $61,898,000 after buying an additional 2,493,181 shares in the last quarter. Engineers Gate Manager LP raised its position in shares of Mobileye Global by 140.9% during the 4th quarter. Engineers Gate Manager LP now owns 3,577,407 shares of the company's stock valued at $37,348,000 after buying an additional 2,092,250 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Mobileye Global by 436.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,489,803 shares of the company's stock valued at $35,156,000 after acquiring an additional 2,025,257 shares during the last quarter. Finally, Pacer Advisors Inc. bought a new position in shares of Mobileye Global in the 4th quarter valued at about $15,290,000. Hedge funds and other institutional investors own 13.25% of the company's stock.

Mobileye Global Price Performance

Shares of NASDAQ MBLY opened at $8.97 on Friday. The company has a market cap of $7.55 billion, a P/E ratio of -1.78 and a beta of 1.16. Mobileye Global Inc. has a 1 year low of $6.47 and a 1 year high of $17.12. The firm has a 50-day simple moving average of $9.50 and a two-hundred day simple moving average of $9.09.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last announced its earnings results on Thursday, April 23rd. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.03. Mobileye Global had a positive return on equity of 0.33% and a negative net margin of 203.97%.The business had revenue of $558.00 million during the quarter, compared to analyst estimates of $519.34 million. During the same quarter in the previous year, the business earned $0.08 earnings per share. The company's revenue for the quarter was up 27.4% compared to the same quarter last year. As a group, equities research analysts expect that Mobileye Global Inc. will post -0.09 EPS for the current year.

Mobileye Global announced that its board has authorized a share repurchase program on Thursday, April 23rd that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Mizuho boosted their price objective on Mobileye Global from $8.00 to $9.00 and gave the stock a "neutral" rating in a research note on Friday, April 24th. UBS Group raised their price objective on Mobileye Global from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Friday, April 24th. Wall Street Zen upgraded Mobileye Global from a "sell" rating to a "hold" rating in a report on Saturday, April 25th. Royal Bank Of Canada boosted their target price on Mobileye Global from $9.00 to $10.00 and gave the company a "sector perform" rating in a research report on Monday. Finally, Jefferies Financial Group assumed coverage on Mobileye Global in a report on Monday, May 18th. They set an "underperform" rating and a $8.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Mobileye Global currently has an average rating of "Hold" and an average price target of $13.70.

About Mobileye Global

Mobileye Global Inc NASDAQ: MBLY is a leader in the development of advanced driver-assistance systems (ADAS) and autonomous driving technologies. Headquartered in Jerusalem, Israel, the company designs and supplies computer vision-based solutions that enable vehicles to detect and respond to road conditions, obstacles and signage. Mobileye's core offering centers on its proprietary EyeQ system-on-a-chip (SoC) family, which processes video streams from automotive cameras to deliver features such as lane-keeping assist, adaptive cruise control, collision prevention and traffic sign recognition.

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