Insider Buying: Mobileye Global (NASDAQ:MBLY) Director Buys $98,632.80 in Stock

Key Points

• Mobileye director Frank Yeary bought 12,360 shares at an average price of $7.98, investing $98,632.80 and bringing his total holdings to 12,360 shares.
• Mobileye shares rose 1.8% to $8.08, while the company’s latest quarterly results exceeded expectations with $0.19 in adjusted EPS versus a $0.06 consensus and revenue of $508 million.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $12.64 price target; the company also authorized a $250 million share-repurchase program covering up to 3.8% of outstanding shares.

Mobileye Global Inc. (NASDAQ:MBLY - Get Free Report) Director Frank Yeary bought 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 transaction, the director owned 12,360 shares of the company's stock, valued at $98,632.80. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Mobileye Global Trading Up 1.8%

MBLY traded up $0.14 on Monday, hitting $8.08. 5,715,086 shares of the stock traded hands, compared to its average volume of 7,631,053. The business has a fifty day moving average price of $9.19 and a two-hundred day moving average price of $8.86. The firm has a market capitalization of $6.79 billion, a PE ratio of -1.62, a P/E/G ratio of 2.71 and a beta of 1.21. Mobileye Global Inc. has a 52 week low of $6.47 and a 52 week high of $15.81.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.13. The company 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 company's quarterly revenue was up .4% on a year-over-year basis. During the same quarter last year, the company earned ($0.08) EPS. On average, equities research analysts forecast that Mobileye Global Inc. will post 0.11 EPS for the current fiscal year.

Mobileye Global declared that its Board of Directors has approved a share repurchase plan on Thursday, April 23rd that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to purchase up to 3.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Analyst Ratings Changes

MBLY has been the topic of several analyst reports. Royal Bank Of Canada lowered their price target 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. JPMorgan Chase & Co. reduced their price objective on shares of Mobileye Global from $10.00 to $9.00 and set a "neutral" rating for the company in a report on Friday, July 24th. Zacks Research raised shares of Mobileye Global from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 20th. Weiss Ratings raised shares of Mobileye Global from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, July 8th. Finally, UBS Group dropped their price target on shares of 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 research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Mobileye Global presently has a consensus rating of "Hold" and a consensus price target of $12.64.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MBLY. IFP Advisors Inc boosted its stake 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 valued at $26,000 after purchasing an additional 1,495 shares in the last quarter. Rhumbline Advisers bought a new position in Mobileye Global during the 1st quarter valued at about $27,000. Northwestern Mutual Wealth Management Co. bought a new position in Mobileye Global during the 2nd quarter valued at about $31,000. Financial Management Professionals Inc. acquired a new position in Mobileye Global in the fourth quarter valued at about $32,000. Finally, Leonteq Securities AG bought a new stake in Mobileye Global during the fourth quarter worth about $33,000. 13.25% of the stock is owned by institutional investors.

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.

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