Mobileye Global Inc. $MBLY Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its stake in Mobileye Global Inc. (NASDAQ:MBLY) by 7.2% during the 1st quarter, HoldingsChannel reports. The firm owned 10,305,431 shares of the company’s stock after selling 797,212 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Mobileye Global were worth $70,798,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Burkehill Global Management LP purchased a new position in shares of Mobileye Global during the 3rd quarter valued at approximately $42,360,000. Two Sigma Investments LP boosted its holdings 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 buying an additional 2,493,181 shares in the last quarter. Engineers Gate Manager LP boosted its holdings in Mobileye Global by 140.9% during the fourth quarter. Engineers Gate Manager LP now owns 3,577,407 shares of the company’s stock worth $37,348,000 after buying an additional 2,092,250 shares in the last quarter. BNP Paribas Financial Markets grew its position in Mobileye Global by 436.0% during the third quarter. BNP Paribas Financial Markets now owns 2,489,803 shares of the company’s stock valued at $35,156,000 after buying an additional 2,025,257 shares during the period. Finally, Pacer Advisors Inc. acquired a new stake in Mobileye Global during the fourth quarter valued at $15,290,000. Institutional investors and hedge funds own 13.25% of the company’s stock.

Mobileye Global Stock Performance

NASDAQ:MBLY opened at $8.01 on Thursday. The company has a fifty day moving average of $9.27 and a two-hundred day moving average of $8.91. The stock has a market capitalization of $6.74 billion, a PE ratio of -1.61, a P/E/G ratio of 2.88 and a beta of 1.16. 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 announced its earnings results on Thursday, July 23rd. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.13. The business had revenue of $508.00 million for the quarter, compared to analyst estimates of $480.51 million. Mobileye Global had a negative net margin of 201.49% and a positive return on equity of 0.70%. The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.08) earnings per share. Research analysts forecast that Mobileye Global Inc. will post 0.11 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

MBLY has been the subject of a number of analyst reports. 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 research report on Friday, July 24th. Canaccord Genuity Group dropped their target price on Mobileye Global from $17.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, July 24th. Berenberg Bank lowered Mobileye Global from a “buy” rating to a “hold” rating and set a $10.80 price target for the company. in a research note on Thursday, May 21st. UBS Group reduced their price target on Mobileye Global from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Friday, July 24th. Finally, Weiss Ratings upgraded Mobileye Global from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $12.95.

Mobileye Global 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.