Mobileye Global Inc. $MBLY Shares Acquired by First Trust Advisors LP

Key Points

• First Trust Advisors increased its Mobileye position by 27.7% in the first quarter, bringing its holdings to 1.15 million shares worth approximately $7.9 million. Institutional investors collectively own 13.25% of MBLY.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $12.64. Several firms recently cut their targets, including Canaccord Genuity to $12, TD Cowen to $9, and RBC to $7.
• Mobileye beat quarterly earnings expectations, reporting $0.19 EPS versus the $0.06 estimate and revenue of $508 million. The company also authorized a $250 million share buyback, covering up to 3.8% of outstanding shares.

First Trust Advisors LP lifted its position in shares of Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 27.7% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,152,499 shares of the company's stock after buying an additional 249,921 shares during the period. First Trust Advisors LP owned 0.14% of Mobileye Global worth $7,918,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MBLY. PNC Financial Services Group Inc. grew its stake in Mobileye Global by 204.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,686 shares of the company's stock worth $60,000 after acquiring an additional 5,837 shares during the period. KBC Group NV lifted its stake in shares of Mobileye Global by 61.7% during the 1st quarter. KBC Group NV now owns 199,891 shares of the company's stock worth $1,373,000 after purchasing an additional 76,276 shares during the period. BCGM Wealth Management LLC boosted its holdings in shares of Mobileye Global by 56.7% during the first quarter. BCGM Wealth Management LLC now owns 368,763 shares of the company's stock worth $2,533,000 after purchasing an additional 133,471 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Mobileye Global by 6.0% during the first quarter. Bank of New York Mellon Corp now owns 289,285 shares of the company's stock worth $1,987,000 after purchasing an additional 16,477 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Mobileye Global by 24.5% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,585,733 shares of the company's stock valued at $24,634,000 after purchasing an additional 705,400 shares during the period. Institutional investors and hedge funds own 13.25% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on MBLY shares. Canaccord Genuity Group dropped their target price on Mobileye Global from $17.00 to $12.00 and set a "buy" rating for the company in a research note on Friday, July 24th. Wall Street Zen raised Mobileye Global from a "sell" rating to a "hold" rating in a research note on Saturday, April 25th. Weiss Ratings upgraded Mobileye Global from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, July 8th. TD Cowen dropped their price objective on shares of Mobileye Global from $11.50 to $9.00 and set a "buy" rating for the company in a research note on Friday, July 24th. Finally, Royal Bank Of Canada cut their price objective on shares of Mobileye Global from $10.00 to $7.00 and set a "sector perform" rating on the stock in a report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $12.64.

Mobileye Global Trading Up 0.5%

Shares of MBLY opened at $7.94 on Friday. Mobileye Global Inc. has a twelve month low of $6.47 and a twelve month high of $15.81. The firm has a market capitalization of $6.67 billion, a P/E ratio of -1.59, a price-to-earnings-growth ratio of 2.71 and a beta of 1.16. The stock's fifty day simple moving average is $9.19 and its 200 day simple moving average is $8.88.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.13. The firm had revenue of $508.00 million during the quarter, compared to the consensus estimate of $480.51 million. Mobileye Global had a positive return on equity of 0.70% and a negative net margin of 201.49%.The firm's quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.08) earnings per share. Sell-side analysts predict that Mobileye Global Inc. will post 0.11 earnings per share for the current year.

Mobileye Global announced that its board has initiated a share buyback program on Thursday, April 23rd that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to buy up to 3.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.

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.

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