Key Points
- Director Frank Yeary bought 12,360 Mobileye shares at an average price of $7.98, investing $98,632.80 and becoming the direct owner of those shares.
- Mobileye reported quarterly EPS of $0.19, beating the $0.06 consensus estimate, while revenue of $508 million also exceeded expectations.
- The company authorized a $250 million share repurchase program, while analysts remain divided: Mobileye has an average “Hold” rating and a consensus price target of $12.64.
Mobileye Global Inc. (NASDAQ:MBLY - Get Free Report) Director Frank Yeary acquired 12,360 shares of the business's stock in a transaction dated Thursday, July 30th. The stock was acquired at an average price of $7.98 per share, for a total transaction of $98,632.80. Following the purchase, the director directly owned 12,360 shares of the company's stock, valued at approximately $98,632.80. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Mobileye Global Price Performance
Shares of Mobileye Global stock opened at $8.08 on Tuesday. The stock has a market cap of $6.80 billion, a PE ratio of -1.62, a price-to-earnings-growth ratio of 2.71 and a beta of 1.16. The firm has a fifty day moving average price of $9.15 and a 200 day moving average price of $8.85. Mobileye Global Inc. has a 1 year low of $6.47 and a 1 year high of $15.81.
Mobileye Global (NASDAQ:MBLY - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.06 by $0.13. The company had revenue of $508.00 million for the quarter, compared to analyst estimates of $480.51 million. Mobileye Global had a negative net margin of 201.49% and a positive return on equity of 0.70%. The firm's revenue was up .4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.08) earnings per share. As a group, equities analysts expect that Mobileye Global Inc. will post 0.11 EPS for the current year.
Mobileye Global declared that its Board of Directors has initiated a stock buyback plan on Thursday, April 23rd that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to buy up to 3.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.
Wall Street Analyst Weigh In
MBLY has been the topic of several analyst reports. Jefferies Financial Group began coverage on Mobileye Global in a report on Monday, May 18th. They set an "underperform" rating and a $8.00 target price on the stock. Needham & Company LLC reissued a "buy" rating and issued a $13.00 price target on shares of Mobileye Global in a report on Friday, July 24th. Zacks Research upgraded Mobileye Global from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 20th. Mizuho dropped their price objective on shares of Mobileye Global from $9.00 to $8.00 and set a "neutral" rating on the stock in a research note on Friday, July 24th. Finally, Tigress Financial cut their target price on shares of Mobileye Global from $25.00 to $18.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Mobileye Global presently has an average rating of "Hold" and an average target price of $12.64.
Read Our Latest Stock Report on Mobileye Global
Institutional Trading of Mobileye Global
Several institutional investors have recently bought and sold shares of MBLY. Two Sigma Investments LP raised its stake in shares of Mobileye Global by 131.9% during the 3rd quarter. Two Sigma Investments LP now owns 4,383,735 shares of the company's stock worth $61,898,000 after buying an additional 2,493,181 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its stake in Mobileye Global by 24.5% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,585,733 shares of the company's stock valued at $24,634,000 after acquiring an additional 705,400 shares during the period. Engineers Gate Manager LP increased its holdings in Mobileye Global by 140.9% in the 4th quarter. Engineers Gate Manager LP now owns 3,577,407 shares of the company's stock worth $37,348,000 after acquiring an additional 2,092,250 shares in the last quarter. DNB Asset Management AS increased its holdings in Mobileye Global by 23.1% in the 4th quarter. DNB Asset Management AS now owns 3,506,480 shares of the company's stock worth $36,608,000 after acquiring an additional 658,585 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Mobileye Global by 65.5% during the third quarter. Vanguard Group Inc. now owns 3,065,586 shares of the company's stock worth $43,286,000 after acquiring an additional 1,213,448 shares during the period. 13.25% of the stock is owned by institutional investors and hedge funds.
About Mobileye Global
(
Get Free Report)
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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