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

Cibc World Market Inc. bought a new position in Mobileye Global Inc. (NASDAQ:MBLY) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 163,095 shares of the company’s stock, valued at approximately $1,703,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. IFP Advisors Inc boosted 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 period. Rhumbline Advisers acquired a new position in shares of Mobileye Global in the first quarter worth about $27,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Mobileye Global in the second quarter worth about $31,000. Financial Management Professionals Inc. acquired a new position in shares of Mobileye Global in the fourth quarter worth about $32,000. Finally, Leonteq Securities AG acquired a new position in shares of Mobileye Global in the fourth quarter worth about $33,000. 13.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MBLY. JPMorgan Chase & Co. decreased their target price on shares of Mobileye Global from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, April 16th. Zacks Research raised shares of Mobileye Global from a “strong sell” rating to a “hold” rating in a research report on Friday, March 27th. UBS Group increased their price target on shares of Mobileye Global from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Weiss Ratings reissued a “sell (e+)” rating on shares of Mobileye Global in a research report on Monday, April 27th. Finally, Wall Street Zen raised shares of Mobileye Global from a “sell” rating to a “hold” rating in a research report on Saturday, April 25th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $13.77.

Mobileye Global Stock Performance

Shares of MBLY opened at $9.33 on Wednesday. The firm has a market cap of $7.85 billion, a PE ratio of -1.85 and a beta of 1.15. The firm’s 50 day moving average price is $8.88 and its 200 day moving average price is $9.45. Mobileye Global Inc. has a twelve month low of $6.47 and a twelve month high of $20.18.

Mobileye Global (NASDAQ:MBLY) last issued 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. 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 company’s revenue for the quarter was up 27.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.08 earnings per share. On average, sell-side analysts anticipate that Mobileye Global Inc. will post -0.07 earnings per share for the current fiscal year.

Mobileye Global declared that its board has approved a share buyback plan on Thursday, April 23rd that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 3.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership 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.