Key Points
- Mobileye director Safroadu Yeboah-Amankwah bought 11,841 shares for approximately $100,175, increasing his direct ownership by 16.33% to 84,336 shares.
- Mobileye beat quarterly expectations, reporting $0.19 EPS versus the $0.06 consensus and $508 million in revenue versus $480.51 million expected, though it continues to post a negative net margin.
- The company authorized a $250 million share-repurchase program, while analysts remain mixed: the stock has an average “Hold” rating and a consensus price target of $12.64.
Mobileye Global Inc. (NASDAQ:MBLY - Get Free Report) Director Safroadu Yeboah-Amankwah bought 11,841 shares of the firm's stock in a transaction dated Thursday, August 6th. The shares were bought at an average price of $8.46 per share, with a total value of $100,174.86. Following the completion of the transaction, the director directly owned 84,336 shares in the company, valued at approximately $713,482.56. This trade represents a 16.33% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Mobileye Global Price Performance
Shares of NASDAQ:MBLY opened at $8.75 on Tuesday. The firm's 50 day simple moving average is $8.98 and its 200 day simple moving average is $8.77. Mobileye Global Inc. has a fifty-two week low of $6.47 and a fifty-two week high of $15.81. The company has a market capitalization of $7.35 billion, a price-to-earnings ratio of -1.75, a P/E/G ratio of 2.98 and a beta of 1.21.
Mobileye Global (NASDAQ:MBLY - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.19 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $508.00 million during the quarter, compared to analysts' expectations of $480.51 million. During the same quarter in the previous year, the company earned ($0.08) earnings per share. The business's revenue for the quarter was up .4% on a year-over-year basis. Equities research analysts expect that Mobileye Global Inc. will post 0.11 earnings per share for the current year.
Mobileye Global declared that its Board of Directors has authorized a share repurchase program on Thursday, April 23rd that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 3.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its stock is undervalued.
Analyst Ratings Changes
Several brokerages recently commented on MBLY. Canaccord Genuity Group dropped their price objective on Mobileye Global from $17.00 to $12.00 and set a "buy" rating on the stock in a research note on Friday, July 24th. TD Cowen decreased their target price on Mobileye Global from $11.50 to $9.00 and set a "buy" rating for the company in a research note on Friday, July 24th. Weiss Ratings upgraded Mobileye Global from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, July 8th. Zacks Research raised Mobileye Global from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 20th. Finally, The Goldman Sachs Group lifted their price objective on Mobileye Global from $8.00 to $9.00 and gave the company a "neutral" rating in a report on Friday, April 24th. Two investment 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 given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $12.64.
Read Our Latest Stock Report on MBLY
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the company. NewEdge Advisors LLC raised its position in Mobileye Global by 10.7% in the 1st quarter. NewEdge Advisors LLC now owns 31,228 shares of the company's stock valued at $450,000 after buying an additional 3,019 shares during the last quarter. Rhumbline Advisers bought a new position in shares of Mobileye Global during the 1st quarter worth approximately $27,000. Creative Planning grew its stake in shares of Mobileye Global by 10.2% during the 2nd quarter. Creative Planning now owns 18,316 shares of the company's stock worth $329,000 after acquiring an additional 1,693 shares in the last quarter. Cetera Investment Advisers acquired a new stake in shares of Mobileye Global in the second quarter valued at approximately $351,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Mobileye Global in the second quarter valued at approximately $31,000. 13.25% of the stock is owned by institutional investors and hedge funds.
Mobileye Global Company Profile
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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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