Mobileye Global Inc. (NASDAQ:MBLY) Shares Bought by Raymond James & Associates

Raymond James & Associates raised its stake in Mobileye Global Inc. (NASDAQ:MBLY) by 258.7% during the second quarter, Holdings Channel reports. The firm owned 336,417 shares of the company’s stock after purchasing an additional 242,640 shares during the period. Raymond James & Associates’ holdings in Mobileye Global were worth $9,448,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MBLY. Principal Securities Inc. acquired a new position in shares of Mobileye Global in the 4th quarter valued at $28,000. Register Financial Advisors LLC acquired a new position in shares of Mobileye Global in the 1st quarter valued at $32,000. National Bank of Canada FI boosted its holdings in shares of Mobileye Global by 90.0% in the 4th quarter. National Bank of Canada FI now owns 1,425 shares of the company’s stock valued at $59,000 after purchasing an additional 675 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of Mobileye Global in the 4th quarter valued at $77,000. Finally, Natixis Investment Managers International purchased a new position in shares of Mobileye Global in the 1st quarter valued at $99,000. Institutional investors and hedge funds own 13.25% of the company’s stock.

Insider Transactions at Mobileye Global

In related news, Director Patrick P. Gelsinger bought 6,400 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $15.48 per share, with a total value of $99,072.00. Following the transaction, the director now owns 139,106 shares of the company’s stock, valued at $2,153,360.88. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other Mobileye Global news, Director Patrick P. Gelsinger purchased 6,400 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $15.48 per share, with a total value of $99,072.00. Following the acquisition, the director now owns 139,106 shares of the company’s stock, valued at approximately $2,153,360.88. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Amnon Shashua purchased 631,963 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was acquired at an average cost of $16.51 per share, with a total value of $10,433,709.13. Following the completion of the acquisition, the chief executive officer now directly owns 4,080,097 shares in the company, valued at approximately $67,362,401.47. The disclosure for this purchase can be found here. Insiders own 1.80% of the company’s stock.

Mobileye Global Stock Performance

MBLY opened at $14.40 on Monday. The company has a 50-day moving average of $22.06 and a 200-day moving average of $26.29. The company has a market capitalization of $11.65 billion, a P/E ratio of -68.57, a PEG ratio of 29.75 and a beta of 0.13. Mobileye Global Inc. has a 1-year low of $13.83 and a 1-year high of $44.48.

Mobileye Global (NASDAQ:MBLY) last released its earnings results on Thursday, August 1st. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. The company had revenue of $439.00 million during the quarter, compared to the consensus estimate of $424.34 million. Mobileye Global had a negative net margin of 12.14% and a positive return on equity of 1.32%. The company’s revenue was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.11 EPS. As a group, sell-side analysts expect that Mobileye Global Inc. will post 0.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

MBLY has been the topic of a number of research reports. Daiwa Capital Markets downgraded shares of Mobileye Global from a “buy” rating to a “neutral” rating in a research note on Monday, August 5th. Citigroup cut their target price on shares of Mobileye Global from $58.00 to $53.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Westpark Capital reissued a “hold” rating on shares of Mobileye Global in a research note on Wednesday, July 31st. JPMorgan Chase & Co. downgraded shares of Mobileye Global from an “overweight” rating to a “neutral” rating and cut their target price for the company from $38.00 to $24.00 in a research note on Wednesday, July 31st. Finally, Hsbc Global Res raised shares of Mobileye Global to a “strong-buy” rating in a research note on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Mobileye Global currently has an average rating of “Moderate Buy” and a consensus price target of $31.42.

About Mobileye Global

Mobileye Global Inc develops and deploys advanced driver assistance systems (ADAS) and autonomous driving technologies and solutions worldwide. The company operates through Mobileye and Other segments. It offers Driver Assist comprising ADAS and autonomous vehicle solutions that covers safety features, such as real-time detection of road users, geometry, semantics, and markings to provide safety alerts and emergency interventions; Cloud-Enhanced Driver Assist, a solution for drivers with interpretations of a scene in real-time; Mobileye SuperVision Lite, a navigation and assisted driving solution; and Mobileye SuperVision, an operational point-to-point assisted driving navigation solution on various road types and includes cloud-based enhancements, such as road experience management.