Insider Buying: Mobileye Global (NASDAQ:MBLY) Director Purchases $98,632.80 in Stock

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 price of $7.98 per share, with a total value of $98,632.80. Following the acquisition, the director directly owned 12,360 shares of the company’s stock, valued at approximately $98,632.80. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Mobileye Global Trading Down 2.1%

Shares of MBLY stock opened at $8.46 on Thursday. Mobileye Global Inc. has a 1-year low of $6.47 and a 1-year high of $15.81. The company has a market capitalization of $7.11 billion, a price-to-earnings ratio of -1.70, a P/E/G ratio of 2.95 and a beta of 1.20. The stock’s fifty day simple moving average is $9.09 and its 200-day simple moving average is $8.81.

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, topping the consensus estimate of $0.06 by $0.13. Mobileye Global had a positive return on equity of 0.70% and a negative net margin of 201.49%.The firm had revenue of $508.00 million during the quarter, compared to the consensus estimate of $480.51 million. During the same period in the prior year, the business earned ($0.08) EPS. The business’s revenue for the quarter was up .4% on a year-over-year basis. On average, sell-side analysts predict that Mobileye Global Inc. will post 0.11 EPS for the current year.

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

Institutional Trading of Mobileye Global

Institutional investors have recently added to or reduced their stakes in the business. BCGM Wealth Management LLC increased its position in Mobileye Global by 56.7% during the first quarter. BCGM Wealth Management LLC now owns 368,763 shares of the company’s stock worth $2,533,000 after buying an additional 133,471 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Mobileye Global by 24.5% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,585,733 shares of the company’s stock worth $24,634,000 after buying an additional 705,400 shares during the last quarter. Engineers Gate Manager LP boosted its stake in shares of Mobileye Global by 140.9% during the 4th quarter. Engineers Gate Manager LP now owns 3,577,407 shares of the company’s stock worth $37,348,000 after acquiring an additional 2,092,250 shares in the last quarter. Y Intercept Hong Kong Ltd increased its holdings in shares of Mobileye Global by 977.4% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 218,016 shares of the company’s stock valued at $1,498,000 after acquiring an additional 197,781 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Mobileye Global by 27.7% in the 1st quarter. First Trust Advisors LP now owns 1,152,499 shares of the company’s stock valued at $7,918,000 after acquiring an additional 249,921 shares in the last quarter. 13.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Piper Sandler upgraded shares of Mobileye Global from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $10.00 to $12.00 in a report on Monday, July 27th. JPMorgan Chase & Co. cut their target price on shares of Mobileye Global from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday, July 24th. Needham & Company LLC restated a “buy” rating and set a $13.00 price target on shares of Mobileye Global in a report on Friday, July 24th. Berenberg Bank downgraded shares of Mobileye Global from a “buy” rating to a “hold” rating and set a $10.80 price target on the stock. in a research note on Thursday, May 21st. Finally, Weiss Ratings upgraded Mobileye Global from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Mobileye Global presently 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.