Hsbc Holdings PLC Purchases 104,455 Shares of Mobileye Global Inc. $MBLY

Hsbc Holdings PLC boosted its position in Mobileye Global Inc. (NASDAQ:MBLY) by 88.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 222,753 shares of the company’s stock after acquiring an additional 104,455 shares during the quarter. Hsbc Holdings PLC’s holdings in Mobileye Global were worth $2,353,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. IFP Advisors Inc lifted its position in Mobileye Global by 465.7% during the 3rd quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock worth $26,000 after acquiring an additional 1,495 shares during the last quarter. Rhumbline Advisers acquired a new stake in shares of Mobileye Global in the first quarter valued at about $27,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Mobileye Global in the second quarter valued at about $31,000. Financial Management Professionals Inc. acquired a new stake in shares of Mobileye Global in the fourth quarter valued at about $32,000. Finally, Leonteq Securities AG bought a new position in shares of Mobileye Global in the fourth quarter worth about $33,000. Institutional investors own 13.25% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on MBLY. Canaccord Genuity Group cut their price objective on Mobileye Global from $24.00 to $17.00 and set a “buy” rating for the company in a research report on Friday, April 24th. BNP Paribas Exane lowered their target price on Mobileye Global from $11.50 to $8.50 and set a “neutral” rating on the stock in a report on Wednesday, April 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Mobileye Global in a research report on Monday, April 27th. JPMorgan Chase & Co. cut their price target on Mobileye Global from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, April 16th. Finally, Wall Street Zen raised Mobileye Global from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Mobileye Global has an average rating of “Hold” and an average price target of $13.77.

Mobileye Global Stock Performance

Shares of MBLY opened at $8.30 on Tuesday. The company has a 50-day simple moving average of $9.25 and a 200-day simple moving average of $9.17. The firm has a market capitalization of $6.98 billion, a P/E ratio of -1.65 and a beta of 1.15. Mobileye Global Inc. has a 52 week low of $6.47 and a 52 week high of $20.18.

Mobileye Global (NASDAQ:MBLY) last released its earnings results 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 business had revenue of $558.00 million for the quarter, compared to the consensus estimate of $519.34 million. During the same period last year, the business earned $0.08 earnings per share. The firm’s revenue for the quarter was up 27.4% compared to the same quarter last year. As a group, equities analysts forecast that Mobileye Global Inc. will post -0.09 earnings per share for the current year.

Mobileye Global announced that its Board of Directors has authorized a stock buyback program on Thursday, April 23rd that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the company to buy up to 3.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management 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.