Pacer Advisors Inc. Decreases Stock Position in Mobileye Global Inc. $MBLY

Key Points

• Pacer Advisors reduced its Mobileye Global position by 13.5% in the first quarter, selling 197,758 shares and retaining 1.27 million shares valued at approximately $8.7 million.
• Analyst sentiment remains mixed: Mobileye has a consensus “Hold” rating and a $12.64 average price target, while recent targets range from $8.50 to $12.00.
• Mobileye exceeded quarterly earnings and revenue estimates, reporting $0.19 in EPS and $508 million in revenue. The company also authorized a $250 million share-buyback plan, covering up to 3.8% of outstanding shares.

Pacer Advisors Inc. cut its position in Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 13.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,266,808 shares of the company's stock after selling 197,758 shares during the period. Pacer Advisors Inc. owned 0.15% of Mobileye Global worth $8,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Bank of America Corp DE lifted its holdings in Mobileye Global by 5.8% in the 1st quarter. Bank of America Corp DE now owns 2,036,548 shares of the company's stock valued at $13,991,000 after purchasing an additional 111,215 shares in the last quarter. Amundi grew its holdings in shares of Mobileye Global by 89.7% during the first quarter. Amundi now owns 35,225 shares of the company's stock worth $242,000 after buying an additional 16,658 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of Mobileye Global by 39.6% during the first quarter. California State Teachers Retirement System now owns 194,805 shares of the company's stock worth $1,338,000 after buying an additional 55,249 shares in the last quarter. Royal Bank of Canada raised its position in shares of Mobileye Global by 129.6% in the first quarter. Royal Bank of Canada now owns 224,315 shares of the company's stock valued at $1,541,000 after buying an additional 126,634 shares during the last quarter. Finally, SummitTX Capital L.P. acquired a new stake in shares of Mobileye Global in the first quarter valued at about $381,000. 13.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Mobileye Global

In other Mobileye Global news, Director Frank D. Yeary acquired 12,360 shares of the firm's stock in a transaction that occurred on Thursday, July 30th. The shares were purchased at an average cost of $7.98 per share, for a total transaction of $98,632.80. Following the completion of the acquisition, the director owned 12,360 shares of the company's stock, valued at approximately $98,632.80. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 10.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MBLY shares. Weiss Ratings upgraded shares of Mobileye Global from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, July 8th. Piper Sandler upgraded shares of Mobileye Global from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $10.00 to $12.00 in a report on Monday, July 27th. The Goldman Sachs Group raised their target price on shares of Mobileye Global from $8.00 to $9.00 and gave the stock a "neutral" rating in a research note on Friday, April 24th. BNP Paribas Exane lowered their target price on Mobileye Global from $11.50 to $8.50 and set a "neutral" rating on the stock in a report on Wednesday, April 22nd. Finally, UBS Group dropped their price target on Mobileye Global from $10.00 to $9.00 and set a "neutral" rating for the company in a research report on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $12.64.

Mobileye Global Trading Up 6.9%

Mobileye Global stock opened at $8.64 on Wednesday. Mobileye Global Inc. has a 12-month low of $6.47 and a 12-month high of $15.81. The stock has a market cap of $7.26 billion, a P/E ratio of -1.73, a PEG ratio of 2.76 and a beta of 1.20. The company has a 50-day moving average price of $9.12 and a 200 day moving average price of $8.83.

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

Mobileye Global announced that its board has approved a share buyback plan 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 plans are typically a sign that the company's leadership 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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