Frank Yeary Acquires 12,360 Shares of Mobileye Global (NASDAQ:MBLY) Stock

Mobileye Global Inc. (NASDAQ:MBLY) Director Frank Yeary bought 12,360 shares of the company’s stock in a transaction on Thursday, July 30th. The stock was bought at an average price of $7.98 per share, with a total value of $98,632.80. Following the completion of the acquisition, the director owned 12,360 shares in the company, valued at $98,632.80. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Mobileye Global Stock Up 6.9%

NASDAQ MBLY opened at $8.64 on Wednesday. Mobileye Global Inc. has a 52 week low of $6.47 and a 52 week high of $15.81. The business’s fifty day simple moving average is $9.12 and its 200-day simple moving average is $8.83. The firm has a market cap of $7.26 billion, a PE ratio of -1.73, a P/E/G ratio of 2.76 and a beta of 1.20.

Mobileye Global (NASDAQ:MBLY) last announced 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 analyst estimates of $480.51 million. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. Mobileye Global’s quarterly revenue was up .4% on a year-over-year basis. Research analysts expect that Mobileye Global Inc. will post 0.11 EPS for the current year.

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

Institutional Investors Weigh In On Mobileye Global

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

Analyst Ratings Changes

MBLY has been the subject of several research reports. Needham & Company LLC reiterated a “buy” rating and issued a $13.00 target price on shares of Mobileye Global in a report 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. BNP Paribas Exane decreased their target price on Mobileye Global from $11.50 to $8.50 and set a “neutral” rating on the stock in a research note on Wednesday, April 22nd. Wall Street Zen upgraded Mobileye Global from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Finally, Tigress Financial dropped their price objective 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 investment 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $12.64.

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.

Founded in 1999 by Prof.