Gradient Investments LLC Purchases Shares of 95,148 Mobileye Global Inc. $MBLY

Gradient Investments LLC purchased a new stake in Mobileye Global Inc. (NASDAQ:MBLY) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 95,148 shares of the company’s stock, valued at approximately $921,000.

A number of other hedge funds also recently made changes to their positions in the stock. NewEdge Advisors LLC boosted its holdings in Mobileye Global by 10.7% in the first quarter. NewEdge Advisors LLC now owns 31,228 shares of the company’s stock valued at $450,000 after acquiring an additional 3,019 shares during the last quarter. Rhumbline Advisers bought a new position in Mobileye Global during the 1st quarter worth approximately $27,000. Creative Planning raised its holdings in Mobileye Global by 10.2% during the 2nd quarter. Creative Planning now owns 18,316 shares of the company’s stock worth $329,000 after purchasing an additional 1,693 shares during the last quarter. Cetera Investment Advisers acquired a new position in shares of Mobileye Global in the 2nd quarter worth approximately $351,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of Mobileye Global in the 2nd quarter worth approximately $31,000. 13.25% of the stock is currently owned by institutional investors.

Mobileye Global Stock Performance

NASDAQ:MBLY opened at $8.73 on Monday. Mobileye Global Inc. has a 12 month low of $6.47 and a 12 month high of $15.81. The stock has a market capitalization of $7.33 billion, a price-to-earnings ratio of -1.75, a PEG ratio of 2.98 and a beta of 1.20. The firm has a fifty day simple moving average of $9.01 and a two-hundred day simple moving average of $8.78.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.13. The firm had revenue of $508.00 million for the quarter, compared to analyst estimates of $480.51 million. Mobileye Global had a negative net margin of 201.49% and a positive return on equity of 0.70%. The business’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.08) earnings per share. Equities analysts predict that Mobileye Global Inc. will post 0.11 earnings per share for the current fiscal year.

Mobileye Global declared that its Board of Directors has authorized a share repurchase program on Thursday, April 23rd that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 3.8% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Frank D. Yeary purchased 12,360 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The shares were acquired at an average cost of $7.98 per share, with a total value of $98,632.80. Following the purchase, the director owned 12,360 shares in the company, valued at $98,632.80. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 10.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MBLY. Zacks Research upgraded shares of Mobileye Global from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. Royal Bank Of Canada dropped their target price on shares of Mobileye Global from $10.00 to $7.00 and set a “sector perform” rating on the stock in a report on Friday, July 24th. Weiss Ratings raised shares of Mobileye Global from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 8th. TD Cowen cut their price target 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. Finally, Berenberg Bank lowered Mobileye Global from a “buy” rating to a “hold” rating and set a $10.80 price objective for the company. in a research report on Thursday, May 21st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $12.64.

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.