Mitsubishi UFJ Trust & Banking Corp Sells 182,232 Shares of Mobileye Global Inc. $MBLY

Key Points

• Mitsubishi UFJ Trust & Banking Corp cut its stake in Mobileye by 78.4%, selling 182,232 shares and ending the quarter with 50,249 shares worth about $525,000.
• Mobileye beat quarterly estimates with EPS of $0.12 (vs. $0.09) and revenue of $558M (up 27.4% year-over-year), though it still reports a negative net margin and carries a consensus "Hold" rating with an average target of $13.98.
• The board authorized a $250 million stock buyback (up to ~3.8% of shares), signaling management believes the stock may be undervalued.

Mitsubishi UFJ Trust & Banking Corp lessened its position in shares of Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 78.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,249 shares of the company's stock after selling 182,232 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in Mobileye Global were worth $525,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Mobileye Global during the second quarter worth approximately $31,000. IFP Advisors Inc boosted its holdings in shares of Mobileye Global by 465.7% during the third quarter. IFP Advisors Inc now owns 1,816 shares of the company's stock worth $26,000 after acquiring an additional 1,495 shares during the period. Rhumbline Advisers bought a new stake in shares of Mobileye Global during the first quarter worth approximately $27,000. Financial Management Professionals Inc. bought a new stake in shares of Mobileye Global in the fourth quarter valued at approximately $32,000. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of Mobileye Global by 8,500.0% in the third quarter. Brown Brothers Harriman & Co. now owns 3,182 shares of the company's stock valued at $45,000 after buying an additional 3,145 shares during the period. Institutional investors own 13.25% of the company's stock.

Wall Street Analyst Weigh In

MBLY has been the subject of several recent research reports. Mizuho boosted their price target on Mobileye Global from $8.00 to $9.00 and gave the company a "neutral" rating in a research note on Friday, April 24th. Tigress Financial reiterated a "buy" rating and issued a $25.00 price target on shares of Mobileye Global in a research note on Thursday, January 29th. UBS Group boosted their price target on Mobileye Global from $9.00 to $10.00 and gave the company a "neutral" rating in a research note on Friday, April 24th. TD Cowen boosted their price target on Mobileye Global from $8.50 to $10.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Finally, Wolfe Research cut Mobileye Global from an "outperform" rating to a "peer perform" rating in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $13.98.

Mobileye Global Price Performance

NASDAQ MBLY opened at $9.07 on Thursday. The business has a fifty day moving average price of $7.89 and a two-hundred day moving average price of $9.98. Mobileye Global Inc. has a fifty-two week low of $6.47 and a fifty-two week high of $20.18. The stock has a market capitalization of $7.63 billion, a PE ratio of -1.80 and a beta of 1.06.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last released its earnings results on Thursday, April 23rd. The company reported $0.12 earnings per share for the quarter, topping 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 firm had revenue of $558.00 million during the quarter, compared to analysts' expectations of $519.34 million. During the same period in the prior year, the company earned $0.08 earnings per share. The company's quarterly revenue was up 27.4% on a year-over-year basis. As a group, sell-side analysts expect that Mobileye Global Inc. will post -0.07 earnings per share for the current year.

Mobileye Global declared that its Board of Directors has initiated a stock repurchase program on Thursday, April 23rd that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to purchase up to 3.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

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.

Founded in 1999 by Prof.

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