On May 26, 2023, it was announced that Raymond James & Associates had acquired a new stake in the shares of Mobileye Global Inc. (NASDAQ:MBLY) in the fourth quarter of the previous year. This acquisition was revealed in a recent 13F filing with the Securities & Exchange Commission.
Raymond James & Associates is one of the leading diversified financial services firms in America, and this news caught the attention of many investors around the world who follow this company closely. The acquisition by Raymond James & Associates reflects their confidence in Mobileye Global’s future prospects and growth potential.
The fund acquired 106,963 shares of Mobileye Global’s stock, which were valued at approximately $3.75 million. At the time of its latest filing with SEC, Raymond James & Associates owned 0.21% stake in Mobileye Global.
Mobileye Global is a leading technology solutions provider that specializes in automated driving systems and advanced driver assistance systems (ADAS). Their products are used by some of the largest automakers worldwide to enhance safety features and improve driving experiences for millions of drivers worldwide.
Mobileye Global last posted its quarterly earnings data on April 27th, where they reported $0.07 earnings per share for the quarter – beating analysts’ consensus estimates by $0.01. They also posted revenue of $458 million for the quarter, compared to analysts’ expectations of $457.54 million.
These positive results have led analysts to anticipate that Mobileye Global will post 0.63 earnings per share for the current fiscal year – further solidifying their position as a market leader in their field.
In conclusion, Raymond James & Associates’ acquisition of a new stake in Mobileye Global demonstrates that investors are optimistic about their growth prospects and confirms their status as an industry leader within their sector. With impressive financial results already achieved this year and encouraging projections from analysts on future performance, it seems that Mobileye Global is in a strong position to continue its impressive growth trajectory.
Investors Show Growing Confidence in Mobileye Global Inc. with Recent Stake Purchases
Institutional investors have been keeping a sharp eye on Mobileye Global Inc. over recent months, with a number of significant investments having been made. These include purchases by Migdal Insurance & Financial Holdings Ltd., Zurcher Kantonalbank Zurich Cantonalbank, Private Trust Co. NA, Harel Insurance Investments & Financial Services Ltd., and LPL Financial LLC.
Mobileye Global Inc. is a company that specializes in the development of advanced driver assistance systems and autonomous driving technologies. The firm has proven popular among investors due to its innovative solutions for an increasingly important industry.
Among the most notable investments in recent months is that made by Migdal Insurance & Financial Holdings Ltd., which purchased a stake in Mobileye Global Inc. worth $72,000 during Q4 2022. Zurcher Kantonalbank Zurich Cantonalbank bought into the company at $79,000 while Private Trust Co. NA invested $140,000 in the same period.
Harel Insurance Investments & Financial Services Ltd.’s purchase was slightly larger at $146,000, while LPL Financial LLC made an investment of just over $200k in shares of Mobileye Global Inc.
These stake purchases amount to institutional investors’ holdings in the company reaching 1.38%, which reflects growing confidence in Mobileye Global’s future prospects on the stock market.
The news comes as Mobileye Global Inc.’s NASDAQ MBLY stock opened at $42.48 on Friday, with analysts showing high expectations from this promising company.
As we approach May 26, 2023 it will be fascinating to see what strides have been made with respect to autonomous driving technology and how these will contribute to broader industry-wide advancements as well as whether these recent investments will pay off dividends for those involved in their purchase.
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