Mobileye Global Inc. $MBLY Position Reduced by Skylands Capital LLC

Skylands Capital LLC reduced its stake in shares of Mobileye Global Inc. (NASDAQ:MBLY) by 27.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,000 shares of the company’s stock after selling 78,900 shares during the period. Skylands Capital LLC’s holdings in Mobileye Global were worth $1,429,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. IFP Advisors Inc lifted its position in shares of Mobileye Global by 465.7% during the third quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock worth $26,000 after purchasing an additional 1,495 shares during the last quarter. Rhumbline Advisers bought a new stake in Mobileye Global in the first quarter valued at about $27,000. Northwestern Mutual Wealth Management Co. bought a new stake in Mobileye Global in the second quarter valued at about $31,000. Financial Management Professionals Inc. acquired a new stake in Mobileye Global during the fourth quarter valued at approximately $32,000. Finally, Leonteq Securities AG bought a new position in Mobileye Global during the 4th quarter worth approximately $33,000. Institutional investors own 13.25% of the company’s stock.

Mobileye Global Price Performance

Shares of MBLY opened at $7.85 on Friday. Mobileye Global Inc. has a 12 month low of $6.47 and a 12 month high of $20.18. The stock has a fifty day moving average price of $9.24 and a 200 day moving average price of $9.21. The company has a market cap of $6.60 billion, a P/E ratio of -1.56 and a beta of 1.15.

Mobileye Global (NASDAQ:MBLY) last posted its earnings results on Thursday, April 23rd. The company reported $0.12 earnings per share (EPS) for the quarter, beating 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 company had revenue of $558.00 million for the quarter, compared to analysts’ expectations of $519.34 million. During the same period last year, the business posted $0.08 earnings per share. The firm’s quarterly revenue was up 27.4% compared to the same quarter last year. As a group, research analysts anticipate that Mobileye Global Inc. will post -0.09 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

MBLY has been the subject of several research reports. Berenberg Bank lowered Mobileye Global from a “buy” rating to a “hold” rating and set a $10.80 target price for the company. in a research report on Thursday, May 21st. UBS Group upped their price target on Mobileye Global from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. BNP Paribas Exane decreased their price objective on shares of Mobileye Global from $11.50 to $8.50 and set a “neutral” rating for the company in a report on Wednesday, April 22nd. Barclays lowered their target price on shares of Mobileye Global from $16.00 to $14.00 and set an “overweight” rating for the company in a research note on Monday, March 30th. Finally, TD Cowen increased their target price 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. 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price 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.