Krane Funds Advisors LLC Grows Position in Mobileye Global Inc. $MBLY

Krane Funds Advisors LLC increased its stake in Mobileye Global Inc. (NASDAQ:MBLY) by 97.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 221,797 shares of the company’s stock after purchasing an additional 109,661 shares during the quarter. Krane Funds Advisors LLC’s holdings in Mobileye Global were worth $2,316,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Mobileye Global in the second quarter valued at $31,000. IFP Advisors Inc grew its position in shares of Mobileye Global by 465.7% in the third quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock valued at $26,000 after purchasing an additional 1,495 shares in the last quarter. Rhumbline Advisers purchased a new position in shares of Mobileye Global in the first quarter valued at $27,000. Financial Management Professionals Inc. purchased a new position in shares of Mobileye Global in the fourth quarter valued at $32,000. Finally, Leonteq Securities AG purchased a new position in shares of Mobileye Global in the fourth quarter valued at $33,000. 13.25% of the stock is currently owned by hedge funds and other institutional investors.

Mobileye Global Price Performance

Shares of NASDAQ:MBLY opened at $9.47 on Monday. Mobileye Global Inc. has a 1 year low of $6.47 and a 1 year high of $20.18. The company has a market cap of $7.97 billion, a PE ratio of -1.88 and a beta of 1.15. The stock’s 50-day moving average is $8.77 and its 200 day moving average is $9.48.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings results on Thursday, April 23rd. The company reported $0.12 earnings per share (EPS) for the quarter, beating 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 company had revenue of $558.00 million for the quarter, compared to the consensus estimate of $519.34 million. During the same quarter in the previous year, the business earned $0.08 EPS. Mobileye Global’s revenue was up 27.4% compared to the same quarter last year. Analysts expect that Mobileye Global Inc. will post -0.07 EPS for the current fiscal year.

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

Analysts Set New Price Targets

A number of brokerages have commented on MBLY. TD Cowen lifted their price target on Mobileye Global from $8.50 to $10.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Jefferies Financial Group began coverage on Mobileye Global in a research note on Monday, May 18th. They issued an “underperform” rating and a $8.00 price target on the stock. Wall Street Zen raised Mobileye Global from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Berenberg Bank cut 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, JPMorgan Chase & Co. decreased their price target on Mobileye Global from $11.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $13.77.

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.