Mobileye Global (NASDAQ:MBLY) Director Buys 12,360 Shares

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

Mobileye Global Stock Up 1.8%

MBLY stock traded up $0.14 during midday trading on Monday, reaching $8.08. 5,715,086 shares of the company’s stock traded hands, compared to its average volume of 7,631,053. The company has a 50-day simple moving average of $9.19 and a two-hundred day simple moving average of $8.86. Mobileye Global Inc. has a 1-year low of $6.47 and a 1-year high of $15.81. The company has a market cap of $6.79 billion, a price-to-earnings ratio of -1.62, a PEG ratio of 2.71 and a beta of 1.21.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.19 EPS for the quarter, topping 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%.The business’s revenue was up .4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. Equities research analysts forecast that Mobileye Global Inc. will post 0.11 EPS for the current year.

Mobileye Global announced that its Board of Directors has authorized a share buyback plan on Thursday, April 23rd that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to purchase up to 3.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Mobileye Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its position in Mobileye Global by 10.7% during the 1st quarter. NewEdge Advisors LLC now owns 31,228 shares of the company’s stock valued at $450,000 after purchasing an additional 3,019 shares during the period. Rhumbline Advisers acquired a new stake in shares of Mobileye Global during the 1st quarter worth approximately $27,000. Creative Planning raised its stake in shares of Mobileye Global by 10.2% during the second quarter. Creative Planning now owns 18,316 shares of the company’s stock worth $329,000 after buying an additional 1,693 shares during the last quarter. Cetera Investment Advisers bought a new stake in shares of Mobileye Global during the second quarter worth approximately $351,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in Mobileye Global in the second quarter valued at approximately $31,000. 13.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MBLY has been the topic of several research reports. Weiss Ratings upgraded shares of Mobileye Global from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 8th. Zacks Research raised shares of Mobileye Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. TD Cowen reduced their target price on shares of Mobileye Global from $11.50 to $9.00 and set a “buy” rating on the stock in a research report on Friday, July 24th. Canaccord Genuity Group decreased their price target on shares of Mobileye Global from $17.00 to $12.00 and set a “buy” rating on the stock in a research note on Friday, July 24th. Finally, BNP Paribas Exane lowered their price target on shares of Mobileye Global from $11.50 to $8.50 and set a “neutral” rating for the company in a report on Wednesday, April 22nd. Two 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 assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $12.64.

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.