Harel Insurance Investments & Financial Services Ltd. Purchases 705,400 Shares of Mobileye Global Inc. $MBLY

Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Mobileye Global Inc. (NASDAQ:MBLY) by 24.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,585,733 shares of the company’s stock after purchasing an additional 705,400 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Mobileye Global were worth $24,634,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. IFP Advisors Inc boosted 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 purchasing an additional 1,495 shares in the last quarter. Rhumbline Advisers bought a new stake in Mobileye Global in the 1st quarter worth approximately $27,000. Northwestern Mutual Wealth Management Co. bought a new stake in Mobileye Global in the 2nd quarter worth approximately $31,000. Financial Management Professionals Inc. purchased a new stake in Mobileye Global in the fourth quarter worth approximately $32,000. Finally, Leonteq Securities AG purchased a new stake in Mobileye Global in the fourth quarter worth approximately $33,000. Institutional investors own 13.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on MBLY shares. BNP Paribas Exane decreased their price target on shares of Mobileye Global from $11.50 to $8.50 and set a “neutral” rating on the stock in a research note on Wednesday, April 22nd. Barclays cut their price objective 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. Canaccord Genuity Group reduced their target price 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. Mizuho lifted their target price on shares of Mobileye Global from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Mobileye Global from $11.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, April 16th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Mobileye Global presently has an average rating of “Hold” and a consensus price target of $13.70.

Mobileye Global Price Performance

Shares of NASDAQ:MBLY opened at $10.09 on Wednesday. Mobileye Global Inc. has a 1 year low of $6.47 and a 1 year high of $17.12. The company has a market cap of $8.49 billion, a PE ratio of -2.00 and a beta of 1.16. The stock’s 50-day moving average is $9.49 and its 200 day moving average is $9.10.

Mobileye Global (NASDAQ:MBLY) last released 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. 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 during the quarter, compared to analysts’ expectations of $519.34 million. During the same quarter last year, the business posted $0.08 EPS. The business’s revenue was up 27.4% on a year-over-year basis. Analysts expect that Mobileye Global Inc. will post -0.09 EPS for the current fiscal year.

Mobileye Global announced that its Board of Directors has approved a share repurchase program on Thursday, April 23rd that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to buy up to 3.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is 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.