Royal Bank of Canada Has $1.54 Million Stock Position in Mobileye Global Inc. $MBLY

Royal Bank of Canada increased its stake in Mobileye Global Inc. (NASDAQ:MBLY) by 129.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 224,315 shares of the company’s stock after purchasing an additional 126,634 shares during the period. Royal Bank of Canada’s holdings in Mobileye Global were worth $1,541,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. IFP Advisors Inc grew its stake in 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 buying an additional 1,495 shares in the last quarter. Rhumbline Advisers acquired a new position in shares of Mobileye Global in the 1st quarter valued at approximately $27,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Mobileye Global in the 2nd quarter valued at approximately $31,000. Leonteq Securities AG bought a new stake in shares of Mobileye Global during the 4th quarter worth approximately $33,000. Finally, Bogart Wealth LLC boosted its position in shares of Mobileye Global by 5,000.0% during the 1st quarter. Bogart Wealth LLC now owns 5,100 shares of the company’s stock worth $35,000 after acquiring an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 13.25% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on MBLY. JPMorgan Chase & Co. lowered their price objective on shares of Mobileye Global from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday, July 24th. The Goldman Sachs Group lifted their price target on Mobileye Global from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Jefferies Financial Group started coverage on Mobileye Global in a report on Monday, May 18th. They set an “underperform” rating and a $8.00 price target for the company. Royal Bank Of Canada reduced their price objective on Mobileye Global from $10.00 to $7.00 and set a “sector perform” rating on the stock in a research note on Friday, July 24th. Finally, Zacks Research raised Mobileye Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.65.

Insider Activity

In other Mobileye Global news, Director Safroadu Yeboah-Amankwah bought 11,841 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The stock was acquired at an average price of $8.46 per share, with a total value of $100,174.86. Following the completion of the purchase, the director directly owned 84,336 shares of the company’s stock, valued at approximately $713,482.56. This trade represents a 16.33% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frank D. Yeary bought 12,360 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The shares were bought at an average price of $7.98 per share, for a total transaction of $98,632.80. Following the transaction, the director directly owned 12,360 shares in the company, valued at $98,632.80. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 10.00% of the stock is owned by corporate insiders.

Mobileye Global Stock Up 2.6%

NASDAQ MBLY opened at $9.10 on Thursday. The stock has a fifty day simple moving average of $8.84 and a 200 day simple moving average of $8.72. The company has a market capitalization of $7.64 billion, a price-to-earnings ratio of -1.82, a PEG ratio of 3.03 and a beta of 1.20. Mobileye Global Inc. has a twelve month low of $6.47 and a twelve month high of $15.81.

Mobileye Global (NASDAQ:MBLY) last released its quarterly earnings results on Thursday, July 23rd. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.13. Mobileye Global had a negative net margin of 201.49% and a positive return on equity of 0.70%. The firm had revenue of $508.00 million during the quarter, compared to analyst estimates of $480.51 million. During the same quarter last year, the business earned ($0.08) EPS. The company’s revenue was up .4% compared to the same quarter last year. Research analysts expect that Mobileye Global Inc. will post 0.11 earnings per share for the current fiscal year.

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