Mitsubishi UFJ Asset Management Co. Ltd. Reduces Holdings in Mobileye Global Inc. $MBLY

Mitsubishi UFJ Asset Management Co. Ltd. trimmed its stake in Mobileye Global Inc. (NASDAQ:MBLY) by 11.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,831,824 shares of the company’s stock after selling 235,214 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Mobileye Global were worth $20,571,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. IFP Advisors Inc grew its position in shares of Mobileye Global by 465.7% in the 3rd quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock valued at $26,000 after buying an additional 1,495 shares during the last quarter. Rhumbline Advisers purchased a new position in shares of Mobileye Global in the 1st quarter valued at $27,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Mobileye Global in the 2nd quarter valued at $31,000. Financial Management Professionals Inc. purchased a new position in shares of Mobileye Global in the 4th quarter valued at $32,000. Finally, Brown Brothers Harriman & Co. grew its position in shares of Mobileye Global by 8,500.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,182 shares of the company’s stock valued at $45,000 after buying an additional 3,145 shares during the last quarter. 13.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. The Goldman Sachs Group increased their target price on shares of Mobileye Global from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Needham & Company LLC dropped their target price on shares of Mobileye Global from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, January 23rd. Morgan Stanley dropped their target price on shares of Mobileye Global from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Friday, January 23rd. Mizuho increased their target price on shares of Mobileye Global from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Finally, BNP Paribas Exane dropped their target price on shares of Mobileye Global from $11.50 to $8.50 and set a “neutral” rating on the stock in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $13.98.

Mobileye Global Stock Performance

Shares of Mobileye Global stock opened at $9.19 on Friday. Mobileye Global Inc. has a 1 year low of $6.47 and a 1 year high of $20.18. The company has a market capitalization of $7.73 billion, a P/E ratio of -1.82 and a beta of 1.06. The company’s fifty day moving average is $7.89 and its two-hundred day moving average is $9.94.

Mobileye Global (NASDAQ:MBLY) last issued its quarterly earnings data 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. Mobileye Global had a negative net margin of 203.97% and a positive return on equity of 0.33%. The company had revenue of $558.00 million for the quarter, compared to the consensus estimate of $519.34 million. During the same period last year, the firm posted $0.08 EPS. Mobileye Global’s revenue for the quarter was up 27.4% on a year-over-year basis. As a group, equities analysts expect that Mobileye Global Inc. will post -0.07 earnings per share for the current year.

Mobileye Global announced that its board has approved a stock buyback program on Thursday, April 23rd that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to buy up to 3.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Mobileye Global 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.