Malaga Cove Capital LLC Raises Stock Holdings in Mobileye Global Inc. $MBLY

Malaga Cove Capital LLC lifted its stake in shares of Mobileye Global Inc. (NASDAQ:MBLY) by 357.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,676 shares of the company’s stock after purchasing an additional 66,958 shares during the quarter. Malaga Cove Capital LLC’s holdings in Mobileye Global were worth $894,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Ion Asset Management Ltd. purchased a new stake in shares of Mobileye Global during the third quarter worth approximately $3,389,000. JPMorgan Chase & Co. raised its stake in shares of Mobileye Global by 57.6% during the third 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 last quarter. Hillsdale Investment Management Inc. purchased a new stake in shares of Mobileye Global during the third quarter worth approximately $2,470,000. Erste Asset Management GmbH purchased a new stake in shares of Mobileye Global during the third quarter worth approximately $3,665,000. Finally, Skylands Capital LLC grew its holdings in Mobileye Global by 861.0% during the third quarter. Skylands Capital LLC now owns 233,050 shares of the company’s stock worth $3,291,000 after acquiring an additional 208,800 shares during the period. Hedge funds and other institutional investors own 13.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MBLY shares. Barclays dropped their price objective on Mobileye Global from $16.00 to $14.00 and set an “overweight” rating on the stock in a report on Monday, March 30th. Zacks Research raised Mobileye Global from a “strong sell” rating to a “hold” rating in a report on Friday, March 27th. The Goldman Sachs Group upped their target price on Mobileye Global from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Canaccord Genuity Group lowered their target price on Mobileye Global from $24.00 to $17.00 and set a “buy” rating on the stock in a report on Friday, April 24th. Finally, JPMorgan Chase & Co. lowered their target price on Mobileye Global from $11.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Mobileye Global has an average rating of “Hold” and an average price target of $13.77.

Mobileye Global Trading Down 1.8%

NASDAQ MBLY opened at $10.00 on Wednesday. The business’s 50-day moving average price is $8.33 and its 200 day moving average price is $9.60. Mobileye Global Inc. has a twelve month low of $6.47 and a twelve month high of $20.18. The company has a market capitalization of $8.41 billion, a PE ratio of -1.98 and a beta of 1.06.

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

Mobileye Global declared that its board has approved a share repurchase program on Thursday, April 23rd that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

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.