First Trust Advisors LP Grows Stock Holdings in Mobileye Global Inc. $MBLY

First Trust Advisors LP lifted its holdings in Mobileye Global Inc. (NASDAQ:MBLY) by 27.7% in the 1st quarter, Holdings Channel.com reports. The fund owned 1,152,499 shares of the company’s stock after buying an additional 249,921 shares during the quarter. First Trust Advisors LP’s holdings in Mobileye Global were worth $7,918,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in MBLY. IFP Advisors Inc lifted its holdings in shares of Mobileye Global by 465.7% during the 3rd quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock valued at $26,000 after acquiring an additional 1,495 shares in the last quarter. Rhumbline Advisers purchased a new stake in Mobileye Global during the 1st quarter worth $27,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Mobileye Global in the 2nd quarter valued at $31,000. Financial Management Professionals Inc. purchased a new position in Mobileye Global in the fourth quarter valued at about $32,000. Finally, Leonteq Securities AG purchased a new position in Mobileye Global in the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 13.25% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MBLY. Canaccord Genuity Group decreased their target price on Mobileye Global from $17.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, July 24th. TD Cowen dropped their target price on Mobileye Global from $11.50 to $9.00 and set a “buy” rating on the stock in a report on Friday, July 24th. Berenberg Bank lowered Mobileye Global from a “buy” rating to a “hold” rating and set a $10.80 price target on the stock. in a research report on Thursday, May 21st. Wall Street Zen upgraded Mobileye Global from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Finally, JPMorgan Chase & Co. lowered their price objective 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 issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $12.64.

Mobileye Global Price Performance

NASDAQ:MBLY opened at $7.94 on Friday. The firm has a 50-day moving average of $9.19 and a two-hundred day moving average of $8.88. The stock has a market cap of $6.67 billion, a P/E ratio of -1.59, a PEG ratio of 2.71 and a beta of 1.16. Mobileye Global Inc. has a 1-year low of $6.47 and a 1-year high of $15.81.

Mobileye Global (NASDAQ:MBLY) last announced its earnings results 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. The company had revenue of $508.00 million for the quarter, compared to analyst estimates of $480.51 million. Mobileye Global had a positive return on equity of 0.70% and a negative net margin of 201.49%.Mobileye Global’s quarterly revenue was up .4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.08) EPS. As a group, equities 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 initiated a share buyback program on Thursday, April 23rd that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

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.