Engineers Gate Manager LP Acquires 2,092,250 Shares of Mobileye Global Inc. $MBLY

Engineers Gate Manager LP grew its holdings in shares of Mobileye Global Inc. (NASDAQ:MBLY) by 140.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,577,407 shares of the company’s stock after buying an additional 2,092,250 shares during the period. Engineers Gate Manager LP’s holdings in Mobileye Global were worth $37,348,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Two Sigma Investments LP boosted its position in Mobileye Global by 131.9% during the third quarter. Two Sigma Investments LP now owns 4,383,735 shares of the company’s stock worth $61,898,000 after purchasing an additional 2,493,181 shares during the period. DNB Asset Management AS lifted its holdings in shares of 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 buying an additional 658,585 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of 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 buying an additional 1,213,448 shares in the last quarter. Burkehill Global Management LP purchased a new stake in shares of Mobileye Global in the third quarter worth about $42,360,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Mobileye Global by 20.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,976,887 shares of the company’s stock worth $31,082,000 after buying an additional 513,054 shares in the last quarter. Institutional investors own 13.25% of the company’s stock.

Mobileye Global Trading Down 9.3%

MBLY stock opened at $8.73 on Thursday. The company’s 50 day moving average is $9.14 and its 200 day moving average is $9.37. The stock has a market cap of $7.35 billion, a price-to-earnings ratio of -1.73 and a beta of 1.15. Mobileye Global Inc. has a 1-year low of $6.47 and a 1-year high of $20.18.

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

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

Mobileye Global News Summary

Here are the key news stories impacting Mobileye Global this week:

• Positive Sentiment: Mobileye’s planned U.S. robotaxi launch in 2027 expands its addressable market and gives the company a new path to monetize its autonomous driving technology. Reuters: Mobileye to launch robotaxi business in US in 2027
• Positive Sentiment: Several market reports and analyst commentary suggest the robotaxi announcement helped lift sentiment toward MBLY, with one note even upgrading the stock to Strong Buy on the view that the move could support future earnings revisions. Seeking Alpha: Mobileye: Robotaxi Boosts The Bull Thesis (Rating Upgrade)
• Neutral Sentiment: Mobileye is now positioning itself on both sides of the autonomous vehicle business, which could create strategic optionality but also increases execution complexity. TechCrunch: Mobileye’s US robotaxi launch will put it on both sides of the AV business
• Negative Sentiment: Berenberg downgraded Mobileye to Hold, which may temper enthusiasm after the recent rally and reflects some caution around the stock’s valuation and near-term risk/reward. Yahoo Finance: Berenberg Downgrades Mobileye (MBLY) to Hold

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. TD Cowen increased their price target on shares of Mobileye Global from $8.50 to $10.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Zacks Research raised shares of Mobileye Global from a “strong sell” rating to a “hold” rating in a report on Friday, March 27th. Jefferies Financial Group assumed coverage on shares of Mobileye Global in a report on Monday, May 18th. They issued an “underperform” rating and a $8.00 price target on the stock. Canaccord Genuity Group lowered their price target on shares of Mobileye Global from $24.00 to $17.00 and set a “buy” rating on the stock in a report on Friday, April 24th. Finally, The Goldman Sachs Group increased their price target on shares of Mobileye Global from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $13.77.

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.