SBI Okasan Asset Management Co.Ltd. Buys Shares of 98,000 Mobileye Global Inc. $MBLY

SBI Okasan Asset Management Co.Ltd. purchased a new position in shares of Mobileye Global Inc. (NASDAQ:MBLY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 98,000 shares of the company’s stock, valued at approximately $1,043,000.

Several other institutional investors have also recently made changes to their positions in MBLY. Ion Asset Management Ltd. purchased a new position in Mobileye Global during the 3rd quarter valued at about $3,389,000. JPMorgan Chase & Co. lifted its position in shares of Mobileye Global by 57.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 686,976 shares of the company’s stock worth $9,700,000 after purchasing an additional 251,072 shares during the period. Hillsdale Investment Management Inc. purchased a new stake in shares of Mobileye Global in the 3rd quarter worth approximately $2,470,000. Erste Asset Management GmbH bought a new position in shares of Mobileye Global during the third quarter valued at approximately $3,665,000. Finally, Skylands Capital LLC boosted its stake in shares of Mobileye Global by 861.0% during the third quarter. Skylands Capital LLC now owns 233,050 shares of the company’s stock valued at $3,291,000 after purchasing an additional 208,800 shares in the last quarter. Hedge funds and other institutional investors own 13.25% of the company’s stock.

Mobileye Global Stock Down 0.7%

Shares of MBLY opened at $10.34 on Friday. The company has a market cap of $8.70 billion, a price-to-earnings ratio of -2.05 and a beta of 1.06. Mobileye Global Inc. has a twelve month low of $6.47 and a twelve month high of $20.18. The company has a 50 day moving average of $8.48 and a two-hundred day moving average of $9.57.

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

Mobileye Global announced that its board has approved a share repurchase 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 typically an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Berenberg Bank downgraded shares of Mobileye Global from a “buy” rating to a “hold” rating and set a $10.80 price objective for the company. in a research note on Thursday, May 21st. Wall Street Zen raised Mobileye Global from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. Zacks Research raised Mobileye Global from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. The Goldman Sachs Group upped their price objective on Mobileye Global from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Finally, Barclays dropped their price objective on Mobileye Global from $16.00 to $14.00 and set an “overweight” rating on the stock in a research report on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Mobileye Global currently has a consensus rating of “Hold” and an average target price 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.