Harel Insurance Investments & Financial Services Ltd. Increases Holdings in Mobileye Global Inc. $MBLY

Key Points

• Harel Insurance Investments boosted its stake in Mobileye Global by 24.5% in the first quarter, buying 705,400 more shares and bringing its total holding to 3,585,733 shares worth about $24.6 million.
• Mobileye reported better-than-expected first-quarter results, posting EPS of $0.12 versus $0.09 expected and revenue of $558 million versus $519.3 million estimated, with revenue up 27.4% year over year.
• The company also approved a $250 million share buyback program, while analysts currently rate the stock a consensus “Hold” with an average price target of $13.70.

Harel Insurance Investments & Financial Services Ltd. increased its stake in Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 24.5% during the first quarter, according to its most recent filing with the SEC. The fund owned 3,585,733 shares of the company's stock after buying an additional 705,400 shares during the quarter. Harel Insurance Investments & Financial Services Ltd. owned 0.43% of Mobileye Global worth $24,634,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new stake in Mobileye Global in the first quarter worth about $87,000. Griffin Asset Management Inc. bought a new stake in shares of Mobileye Global in the 1st quarter worth approximately $102,000. Collaborative Fund Advisors LLC purchased a new position in Mobileye Global in the first quarter valued at approximately $352,000. Bogart Wealth LLC lifted its stake in Mobileye Global by 5,000.0% in the first quarter. Bogart Wealth LLC now owns 5,100 shares of the company's stock valued at $35,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Stephens Inc. AR bought a new position in Mobileye Global during the first quarter valued at $86,000. Institutional investors own 13.25% of the company's stock.

Mobileye Global Stock Up 3.5%

NASDAQ:MBLY opened at $10.09 on Wednesday. The stock has a market cap of $8.49 billion, a P/E ratio of -2.00 and a beta of 1.16. The business's 50-day moving average price is $9.49 and its two-hundred day moving average price is $9.10. Mobileye Global Inc. has a twelve month low of $6.47 and a twelve month high of $17.12.

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

Mobileye Global declared that its Board of Directors has approved a share buyback program on Thursday, April 23rd that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 3.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on MBLY shares. Canaccord Genuity Group decreased their target price on Mobileye Global from $24.00 to $17.00 and set a "buy" rating for the company in a research report on Friday, April 24th. Zacks Research raised Mobileye Global from a "strong sell" rating to a "hold" rating in a research report on Friday, March 27th. TD Cowen increased their price target on Mobileye Global from $10.00 to $11.50 and gave the stock a "buy" rating in a research note on Monday. Berenberg Bank lowered Mobileye Global from a "buy" rating to a "hold" rating and set a $10.80 price objective for the company. in a report on Thursday, May 21st. Finally, Mizuho boosted their price objective on Mobileye Global from $8.00 to $9.00 and gave the company a "neutral" rating in a research note on Friday, April 24th. 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. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $13.70.

Mobileye Global Company Profile

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.

Founded in 1999 by Prof.

Want to see what other hedge funds are holding MBLY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mobileye Global Inc. (NASDAQ:MBLY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.