Cibc World Market Inc. Makes New $1.70 Million Investment in Mobileye Global Inc. $MBLY

Cibc World Market Inc. bought a new position in shares of Mobileye Global Inc. (NASDAQ:MBLY) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 163,095 shares of the company’s stock, valued at approximately $1,703,000.

A number of other large investors have also modified their holdings of MBLY. IFP Advisors Inc increased its holdings in shares of Mobileye Global by 465.7% in 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 period. Rhumbline Advisers acquired a new stake in shares of Mobileye Global in the 1st quarter worth about $27,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Mobileye Global in the 2nd quarter worth about $31,000. Financial Management Professionals Inc. acquired a new stake in shares of Mobileye Global in the 4th quarter worth about $32,000. Finally, Leonteq Securities AG acquired a new stake in shares of Mobileye Global in the 4th quarter worth about $33,000. Institutional investors and hedge funds own 13.25% of the company’s stock.

Wall Street Analysts Forecast Growth

MBLY has been the topic of a number of analyst reports. Zacks Research raised shares of Mobileye Global from a “strong sell” rating to a “hold” rating in a report on Friday, March 27th. Berenberg Bank cut shares of Mobileye Global from a “buy” rating to a “hold” rating and set a $10.80 price objective on the stock. in a report on Thursday, May 21st. Mizuho increased their price objective 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. Wall Street Zen raised shares of Mobileye Global from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Finally, UBS Group raised their target price on shares of Mobileye Global from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Mobileye Global presently has a consensus rating of “Hold” and a consensus target price of $13.77.

Mobileye Global Trading Down 3.7%

Mobileye Global stock opened at $9.33 on Wednesday. The stock has a market cap of $7.85 billion, a price-to-earnings ratio of -1.85 and a beta of 1.15. The company’s 50-day moving average price is $8.88 and its two-hundred day moving average price is $9.45. Mobileye Global Inc. has a 52 week low of $6.47 and a 52 week 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, beating the consensus estimate of $0.09 by $0.03. Mobileye Global had a negative net margin of 203.97% and a positive return on equity of 0.33%. The company had revenue of $558.00 million during the quarter, compared to analyst estimates of $519.34 million. During the same quarter last year, the firm posted $0.08 EPS. The business’s revenue for the quarter was up 27.4% on a year-over-year basis. Research analysts expect that Mobileye Global Inc. will post -0.07 earnings per share for the current fiscal year.

Mobileye Global declared that its board has authorized a stock buyback plan on Thursday, April 23rd that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to buy up to 3.8% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

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.