Insider Buying: Mobileye Global (NASDAQ:MBLY) Director Buys $100,174.86 in Stock

Mobileye Global Inc. (NASDAQ:MBLY) Director Safroadu Yeboah-Amankwah bought 11,841 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were bought at an average price of $8.46 per share, for a total transaction of $100,174.86. Following the completion of the acquisition, the director owned 84,336 shares of the company’s stock, valued at approximately $713,482.56. This represents a 16.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

Mobileye Global Price Performance

Shares of NASDAQ:MBLY opened at $8.80 on Thursday. The stock has a market capitalization of $7.39 billion, a P/E ratio of -1.76, a P/E/G ratio of 3.03 and a beta of 1.20. The business has a 50-day moving average of $8.90 and a two-hundred day moving average of $8.75. Mobileye Global Inc. has a fifty-two week low of $6.47 and a fifty-two week high of $15.81.

Mobileye Global (NASDAQ:MBLY) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $508.00 million for the quarter, compared to analyst estimates of $480.51 million. During the same quarter in the prior year, the firm posted ($0.08) EPS. The firm’s revenue for the quarter was up .4% on a year-over-year basis. As a group, research analysts expect that Mobileye Global Inc. will post 0.11 EPS for the current fiscal year.

Mobileye Global announced that its Board of Directors has initiated a share repurchase program on Thursday, April 23rd that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to reacquire 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.

Hedge Funds Weigh In On Mobileye Global

Several large investors have recently bought and sold shares of the stock. Sei Investments Co. increased its holdings in shares of Mobileye Global by 2.5% during the 2nd quarter. Sei Investments Co. now owns 45,080 shares of the company’s stock worth $811,000 after purchasing an additional 1,090 shares during the period. Cresset Asset Management LLC lifted its stake in shares of Mobileye Global by 6.3% in the third quarter. Cresset Asset Management LLC now owns 18,819 shares of the company’s stock valued at $266,000 after buying an additional 1,110 shares during the period. Greenfield Seitz Capital Management LLC lifted its stake in shares of Mobileye Global by 5.5% in the fourth quarter. Greenfield Seitz Capital Management LLC now owns 26,939 shares of the company’s stock valued at $281,000 after buying an additional 1,393 shares during the period. IFP Advisors Inc grew its position in Mobileye Global by 465.7% during the third quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock worth $26,000 after buying an additional 1,495 shares in the last quarter. Finally, Creative Planning grew its position in Mobileye Global by 10.2% during the second quarter. Creative Planning now owns 18,316 shares of the company’s stock worth $329,000 after buying an additional 1,693 shares in the last quarter. 13.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MBLY has been the topic of a number of recent analyst reports. UBS Group dropped their price target on shares of Mobileye Global from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, July 24th. Royal Bank Of Canada decreased their price objective on shares of Mobileye Global from $10.00 to $7.00 and set a “sector perform” rating for the company in a report on Friday, July 24th. BNP Paribas Exane dropped their target price on shares of Mobileye Global from $11.50 to $8.50 and set a “neutral” rating on the stock in a report on Wednesday, April 22nd. Canaccord Genuity Group cut their target price on shares of Mobileye Global from $17.00 to $12.00 and set a “buy” rating for the company in a research report on Friday, July 24th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Mobileye Global from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Mobileye Global presently has a consensus rating of “Hold” and a consensus target price of $12.64.

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.