DNB Asset Management AS Increases Holdings in Mobileye Global Inc. $MBLY

DNB Asset Management AS grew its position in Mobileye Global Inc. (NASDAQ:MBLY) by 23.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,506,480 shares of the company’s stock after buying an additional 658,585 shares during the quarter. DNB Asset Management AS owned 0.43% of Mobileye Global worth $36,608,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. purchased a new stake in Mobileye Global during the second quarter worth $31,000. IFP Advisors Inc raised its holdings in shares of Mobileye Global by 465.7% in the third quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock worth $26,000 after buying an additional 1,495 shares during the last quarter. Rhumbline Advisers purchased a new position in Mobileye Global in the 1st quarter worth $27,000. Financial Management Professionals Inc. acquired a new stake in shares of Mobileye Global during the fourth quarter worth about $32,000. Finally, Brown Brothers Harriman & Co. lifted its stake in Mobileye Global by 8,500.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,182 shares of the company’s stock valued at $45,000 after acquiring an additional 3,145 shares during the period. Hedge funds and other institutional investors own 13.25% of the company’s stock.

Mobileye Global Stock Down 3.5%

Shares of MBLY stock opened at $10.02 on Friday. The firm has a 50 day moving average of $8.05 and a two-hundred day moving average of $9.78. The stock has a market capitalization of $8.43 billion, a PE ratio of -1.99 and a beta of 1.06. 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. The firm had revenue of $558.00 million for the quarter, compared to analyst estimates of $519.34 million. Mobileye Global had a negative net margin of 203.97% and a positive return on equity of 0.33%. The business’s quarterly revenue was up 27.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.08 earnings per share. Analysts expect that Mobileye Global Inc. will post -0.07 EPS for the current fiscal year.

Mobileye Global announced that its board has approved a stock buyback plan on Thursday, April 23rd that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to purchase up to 3.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. The Goldman Sachs Group upped their target price on Mobileye Global from $8.00 to $9.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Berenberg Bank began coverage on shares of Mobileye Global in a research report on Wednesday, April 1st. They issued a “buy” rating and a $9.30 target price on the stock. Barclays reduced their price objective on Mobileye Global from $16.00 to $14.00 and set an “overweight” rating for the company in a research note on Monday, March 30th. Needham & Company LLC decreased their target price on shares of Mobileye Global from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Friday, January 23rd. Finally, Mizuho boosted their price target on shares of Mobileye Global from $8.00 to $9.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Mobileye Global presently has an average rating of “Hold” and a consensus target price of $13.98.

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.