BCGM Wealth Management LLC Boosts Position in Mobileye Global Inc. $MBLY

BCGM Wealth Management LLC boosted its stake in shares of Mobileye Global Inc. (NASDAQ:MBLY) by 56.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 368,763 shares of the company’s stock after purchasing an additional 133,471 shares during the period. BCGM Wealth Management LLC’s holdings in Mobileye Global were worth $2,533,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Two Sigma Investments LP grew its stake in Mobileye Global by 131.9% in the 3rd quarter. Two Sigma Investments LP now owns 4,383,735 shares of the company’s stock worth $61,898,000 after acquiring an additional 2,493,181 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its holdings 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 valued at $24,634,000 after purchasing an additional 705,400 shares during the period. Engineers Gate Manager LP boosted its holdings in shares of Mobileye Global by 140.9% in the fourth quarter. Engineers Gate Manager LP now owns 3,577,407 shares of the company’s stock valued at $37,348,000 after purchasing an additional 2,092,250 shares during the period. DNB Asset Management AS grew its stake in Mobileye Global by 23.1% in the fourth quarter. DNB Asset Management AS now owns 3,506,480 shares of the company’s stock worth $36,608,000 after purchasing an additional 658,585 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Mobileye Global by 65.5% in the third quarter. Vanguard Group Inc. now owns 3,065,586 shares of the company’s stock worth $43,286,000 after purchasing an additional 1,213,448 shares in the last quarter. 13.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MBLY. The Goldman Sachs Group lifted their target price on Mobileye Global from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Canaccord Genuity Group dropped their price target on Mobileye Global from $24.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. JPMorgan Chase & Co. cut 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. Jefferies Financial Group began coverage on Mobileye Global in a report on Monday, May 18th. They issued an “underperform” rating and a $8.00 price objective for the company. Finally, Barclays lowered their price objective on shares of Mobileye Global from $16.00 to $14.00 and set an “overweight” rating for the company in a research note on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Mobileye Global has an average rating of “Hold” and a consensus price target of $13.70.

Mobileye Global Stock Down 4.9%

Mobileye Global stock opened at $8.97 on Friday. The firm has a market cap of $7.55 billion, a P/E ratio of -1.78 and a beta of 1.16. The business has a fifty day moving average of $9.50 and a two-hundred day moving average of $9.09. Mobileye Global Inc. has a twelve month low of $6.47 and a twelve month high of $17.12.

Mobileye Global (NASDAQ:MBLY) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.12 earnings per share for the quarter, topping 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 firm had revenue of $558.00 million during the quarter, compared to analysts’ expectations of $519.34 million. During the same period in the prior year, the business posted $0.08 EPS. The firm’s quarterly revenue was up 27.4% on a year-over-year basis. Equities analysts expect that Mobileye Global Inc. will post -0.09 earnings per share for the current year.

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

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.