UBS Group AG Has $31.70 Million Stock Holdings in Mobileye Global Inc. $MBLY

Key Points

• UBS Group AG cut its Mobileye Global stake by 17.6% in the fourth quarter, but still held 3.036 million shares worth about $31.7 million.
• Mobileye reported better-than-expected quarterly results, with EPS of $0.12 versus estimates of $0.09 and revenue of $558 million, up 27.4% year over year.
• The company’s board approved a $250 million stock repurchase program, while analysts remain cautious overall with a consensus rating of Hold and an average price target of $13.98.

UBS Group AG reduced its position in shares of Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 17.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,036,000 shares of the company's stock after selling 650,169 shares during the period. UBS Group AG owned about 0.37% of Mobileye Global worth $31,696,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Intel Corp bought a new stake in Mobileye Global during the 3rd quarter worth approximately $706,000,000. Two Sigma Investments LP increased its position in Mobileye Global by 131.9% in the 3rd quarter. Two Sigma Investments LP now owns 4,383,735 shares of the company's stock valued at $61,898,000 after acquiring an additional 2,493,181 shares during the period. Vanguard Group Inc. raised its stake in shares of Mobileye Global by 65.5% during the third quarter. Vanguard Group Inc. now owns 3,065,586 shares of the company's stock valued at $43,286,000 after acquiring an additional 1,213,448 shares during the last quarter. Burkehill Global Management LP bought a new position in shares of Mobileye Global during the third quarter valued at $42,360,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Mobileye Global during the third quarter worth $40,670,000. Institutional investors and hedge funds own 13.25% of the company's stock.

Mobileye Global Stock Performance

Mobileye Global stock opened at $9.19 on Friday. Mobileye Global Inc. has a 52-week low of $6.47 and a 52-week high of $20.18. The firm has a 50 day moving average price of $7.89 and a two-hundred day moving average price of $9.94. The firm has a market cap 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 released its quarterly earnings results on Thursday, April 23rd. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $558.00 million during the quarter, compared to analyst estimates of $519.34 million. During the same quarter last year, the business earned $0.08 EPS. The company's revenue was up 27.4% compared to the same quarter last year. As a group, equities research analysts predict that Mobileye Global Inc. will post -0.07 EPS for the current fiscal year.

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

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Wolfe Research cut shares of Mobileye Global from an "outperform" rating to a "peer perform" rating in a research note on Monday, January 12th. Zacks Research raised Mobileye Global from a "strong sell" rating to a "hold" rating in a report on Friday, March 27th. Barclays reduced their price target on Mobileye Global from $16.00 to $14.00 and set an "overweight" rating on the stock in a research report on Monday, March 30th. Wells Fargo & Company decreased their price target on Mobileye Global from $24.00 to $18.00 and set an "overweight" rating for the company in a research note on Friday, January 23rd. Finally, HSBC downgraded Mobileye Global from a "buy" rating to a "hold" rating and set a $11.00 price objective for the company. in a research report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $13.98.

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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