Malaga Cove Capital LLC Grows Position in Mobileye Global Inc. $MBLY

Malaga Cove Capital LLC raised its position in Mobileye Global Inc. (NASDAQ:MBLY) by 357.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 85,676 shares of the company’s stock after buying an additional 66,958 shares during the quarter. Malaga Cove Capital LLC’s holdings in Mobileye Global were worth $894,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of MBLY. Burkehill Global Management LP acquired a new stake in shares of Mobileye Global in the third quarter valued at about $42,360,000. DNB Asset Management AS acquired a new stake in shares of Mobileye Global in the third quarter valued at about $40,212,000. Two Sigma Investments LP grew its stake in shares of Mobileye Global by 131.9% in the third quarter. Two Sigma Investments LP now owns 4,383,735 shares of the company’s stock valued at $61,898,000 after buying an additional 2,493,181 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Mobileye Global by 436.0% in the third quarter. BNP Paribas Financial Markets now owns 2,489,803 shares of the company’s stock valued at $35,156,000 after buying an additional 2,025,257 shares in the last quarter. Finally, Electron Capital Partners LLC acquired a new stake in shares of Mobileye Global in the third quarter valued at about $18,050,000. Institutional investors and hedge funds own 13.25% of the company’s stock.

Mobileye Global Trading Down 1.8%

Shares of MBLY opened at $10.00 on Wednesday. The firm has a market cap of $8.41 billion, a price-to-earnings ratio of -1.98 and a beta of 1.06. Mobileye Global Inc. has a 52 week low of $6.47 and a 52 week high of $20.18. The stock has a 50 day moving average of $8.33 and a 200-day moving average of $9.60.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.03. The business had revenue of $558.00 million for the quarter, compared to the consensus estimate of $519.34 million. Mobileye Global had a positive return on equity of 0.33% and a negative net margin of 203.97%.The business’s revenue was up 27.4% on a year-over-year basis. During the same quarter last year, the business posted $0.08 EPS. On average, sell-side analysts predict that Mobileye Global Inc. will post -0.07 earnings per share for the current fiscal year.

Mobileye Global announced that its Board of Directors has authorized a stock repurchase plan on Thursday, April 23rd that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the company to buy up to 3.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

MBLY has been the subject of a number of recent research reports. Barclays lowered their target price on Mobileye Global from $16.00 to $14.00 and set an “overweight” rating for the company in a research note on Monday, March 30th. BNP Paribas Exane lowered their target price on Mobileye Global from $11.50 to $8.50 and set a “neutral” rating for the company in a research note on Wednesday, April 22nd. Mizuho increased their target price on Mobileye Global from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Wall Street Zen upgraded Mobileye Global from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Finally, The Goldman Sachs Group raised their price objective on Mobileye Global from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $13.77.

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.