Mobileye Global Inc. $MBLY Shares Sold by Skylands Capital LLC

Skylands Capital LLC trimmed its holdings in Mobileye Global Inc. (NASDAQ:MBLY) by 27.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,000 shares of the company’s stock after selling 78,900 shares during the quarter. Skylands Capital LLC’s holdings in Mobileye Global were worth $1,429,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its position in Mobileye Global by 80.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 134,026 shares of the company’s stock worth $921,000 after acquiring an additional 59,676 shares during the period. Hsbc Holdings PLC increased its holdings in shares of Mobileye Global by 88.3% during the fourth quarter. Hsbc Holdings PLC now owns 222,753 shares of the company’s stock valued at $2,353,000 after purchasing an additional 104,455 shares during the period. Alpine Global Management LLC bought a new stake in shares of Mobileye Global during the fourth quarter valued at about $181,000. Pacer Advisors Inc. bought a new stake in shares of Mobileye Global during the fourth quarter valued at about $15,290,000. Finally, Virtu Financial LLC acquired a new stake in Mobileye Global in the fourth quarter worth about $895,000. 13.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Mobileye Global in a research report on Monday, April 27th. JPMorgan Chase & Co. dropped their price target on shares of Mobileye Global from $11.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, April 16th. Jefferies Financial Group initiated coverage on shares of Mobileye Global in a research note on Monday, May 18th. They issued an “underperform” rating and a $8.00 price target for the company. UBS Group increased their price objective on shares of Mobileye Global from $9.00 to $10.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Finally, Wall Street Zen upgraded shares of Mobileye Global from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Mobileye Global has an average rating of “Hold” and a consensus target price of $13.77.

Mobileye Global Price Performance

Shares of MBLY opened at $7.85 on Friday. The firm’s 50 day moving average is $9.24 and its 200-day moving average is $9.21. Mobileye Global Inc. has a 12-month low of $6.47 and a 12-month high of $20.18. The stock has a market capitalization of $6.60 billion, a P/E ratio of -1.56 and a beta of 1.15.

Mobileye Global (NASDAQ:MBLY) last released its earnings results on Thursday, April 23rd. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.09 by $0.03. The business had revenue of $558.00 million during the quarter, compared to analyst estimates of $519.34 million. Mobileye Global had a negative net margin of 203.97% and a positive return on equity of 0.33%. The business’s quarterly revenue was up 27.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.08 earnings per share. As a group, equities research analysts forecast that Mobileye Global Inc. will post -0.09 EPS for the current fiscal year.

Mobileye Global announced that its board has authorized a stock repurchase program on Thursday, April 23rd that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to repurchase up to 3.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Mobileye Global 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.