Mobileye Global Inc. $MBLY Shares Sold by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management cut its Mobileye Global stake by 11.4% in the fourth quarter, selling 235,214 shares and ending with 1,831,824 shares valued at about $20.6 million.
• Mobileye reported better-than-expected quarterly results, posting EPS of $0.12 versus $0.09 expected and revenue of $558 million versus $519.34 million estimated, with revenue up 27.4% year over year.
• The company’s board approved a $250 million share buyback plan, while analysts currently rate the stock a consensus Hold with an average target price of $13.98.

Mitsubishi UFJ Asset Management Co. Ltd. reduced its stake in Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 11.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,831,824 shares of the company's stock after selling 235,214 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.23% of Mobileye Global worth $20,571,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. IFP Advisors Inc lifted its holdings in shares of Mobileye Global by 465.7% in the 3rd 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 last quarter. Rhumbline Advisers acquired a new stake in Mobileye Global during the 1st quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Mobileye Global during the 2nd quarter worth approximately $31,000. Financial Management Professionals Inc. acquired a new stake in Mobileye Global during the 4th quarter worth approximately $32,000. Finally, Brown Brothers Harriman & Co. lifted its holdings in Mobileye Global by 8,500.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,182 shares of the company's stock worth $45,000 after buying an additional 3,145 shares in the last quarter. 13.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MBLY shares. Mizuho increased their target price on shares of Mobileye Global from $8.00 to $9.00 and gave the stock a "neutral" rating in a report on Friday, April 24th. Wells Fargo & Company reduced their target price on shares of Mobileye Global from $24.00 to $18.00 and set an "overweight" rating on the stock in a report on Friday, January 23rd. Royal Bank Of Canada reduced their target price on shares of Mobileye Global from $14.00 to $13.00 and set a "sector perform" rating on the stock in a report on Friday, January 23rd. Morgan Stanley reduced their target price on shares of Mobileye Global from $13.00 to $12.00 and set an "equal weight" rating on the stock in a report on Friday, January 23rd. Finally, Needham & Company LLC reduced their target price on shares of Mobileye Global from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Friday, January 23rd. One 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 company. Based on data from MarketBeat.com, Mobileye Global currently has an average rating of "Hold" and a consensus target price of $13.98.

Mobileye Global Trading Up 3.6%

Shares of MBLY opened at $9.19 on Friday. Mobileye Global Inc. has a twelve month low of $6.47 and a twelve month high of $20.18. The firm's fifty day simple moving average is $7.89 and its 200-day simple moving average is $9.94. The firm has a market capitalization of $7.73 billion, a price-to-earnings ratio of -1.82 and a beta of 1.06.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The company reported $0.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.03. Mobileye Global had a negative net margin of 203.97% and a positive return on equity of 0.33%. The business had revenue of $558.00 million for the quarter, compared to analyst estimates of $519.34 million. During the same period last year, the business earned $0.08 EPS. The company's revenue was up 27.4% on a year-over-year basis. On average, analysts predict that Mobileye Global Inc. will post -0.07 earnings per share for the current fiscal year.

Mobileye Global announced that its Board of Directors has authorized a share buyback plan on Thursday, April 23rd that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management 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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