May 25, 2023 – In a recent filing with the Securities and Exchange Commission (SEC), First Trust Advisors LP announced its acquisition of 275,089 shares of Mobileye Global Inc. (NASDAQ:MBLY) during the fourth quarter. The newly acquired shares are valued at approximately $9,643,000.
First Trust Advisors LP now boasts a significant stake in Mobileye Global as the firm owns about 0.53% of the company’s outstanding shares. This acquisition is not only a strategic move by First Trust Advisors LP but also an indication of confidence in Mobileye Global’s position in the market.
Mobileye Global recently announced its quarterly earnings results on Thursday, April 27th, reporting earnings per share (EPS) of $0.07 for the quarter. This figure was higher than analysts’ consensus estimates by $0.01 and contributed to a strong performance for the quarter.
The company recorded revenue of $458 million during the first quarter of this year, exceeding expectations set by equity analysts who had anticipated $457.54 million in revenue for that period.
Equity analysts predict that Mobileye Global will post an EPS of 0.63 for the current year as it continues to solidify its position as a leading player in evolving industries such as autonomous vehicles and advanced driver-assistance systems.
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As technological advancements continue to shape and revolutionize various aspects of modern life, companies like Mobileye Global are poised to lead these changes while promising impressive returns for investors willing to take calculated risks.
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Institutional Investors Show Confidence in Mobileye’s Autonomous Driving Technologies
Mobileye Global Inc. has been making waves in the automotive industry with their advanced driver assistance systems and autonomous driving technologies. As of May 25, 2023, several large investors have made recent changes to their positions in the company. Edmond DE Rothschild Holding S.A., Migdal Insurance & Financial Holdings Ltd., Zurcher Kantonalbank Zurich Cantonalbank, Private Trust Co. NA, and Harel Insurance Investments & Financial Services Ltd. all bought new stakes in shares of Mobileye Global during the fourth quarter of the previous year.
The stock for NASDAQ:MBLY opened at $40.38 on Thursday, with a low of $24.85 and high of $48.11 in the past 12 months. The business’s fifty-day simple moving average is $40.88, and its two-hundred-day simple moving average is $40.84.
Recently, several equities research analysts gave their opinions on Mobileye Global. Tigress Financial gave the company a “buy” rating and lifted their price target from $44 to $52 on February 2nd, while Barclays lowered their price objective from $60 to $50 on April 28th. Robert W. Baird also lowered their price objective from $50 to $47 that same day, followed by Citigroup who lowered from $77 to $71 and finally Wolfe Research who upgraded from “market perform” to “outperform” and set a price objective of $46 on the same day.
Mobileye Global Inc offers Driver Assist which includes ADAS and autonomous vehicle solutions that cover safety features such as real-time detection of road users’ geometry semantics and markings to provide safety alerts and emergency interventions along with cloud-based enhancements like road experience management to support over-the-air updates which add another level of sophistication to this innovative technology firm.
With consistent interest from institutional investors, advanced technology offerings, expanding industry recognition it appears that Mobileye will likely continue to make headlines within the automotive industry. It will be interesting to keep an eye on the company as it progresses into the future of autonomous driving.
