Aigen Investment Management LP Invests $557,000 in Mobileye Global Inc. (NASDAQ:MBLY)

Key Points

• Aigen Investment Management LP has acquired a new stake in Mobileye Global Inc., purchasing 38,661 shares valued at approximately $557,000.
• Wall Street analysts have raised their price targets for Mobileye Global, with Canaccord Genuity increasing their target from $25 to $30 and Wells Fargo from $18 to $24, indicating a generally bullish outlook.
• Major shareholder Intel Corp sold over 63 million shares of Mobileye Global, reducing their stake significantly, while insiders now hold 1.80% of the company's stock.

Aigen Investment Management LP purchased a new stake in shares of Mobileye Global Inc. (NASDAQ:MBLY - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 38,661 shares of the company's stock, valued at approximately $557,000.

Other institutional investors have also recently made changes to their positions in the company. Mystic Asset Management Inc. increased its holdings in Mobileye Global by 3.6% during the 1st quarter. Mystic Asset Management Inc. now owns 20,175 shares of the company's stock worth $290,000 after purchasing an additional 700 shares during the period. Perigon Wealth Management LLC increased its position in Mobileye Global by 4.6% during the 1st quarter. Perigon Wealth Management LLC now owns 20,892 shares of the company's stock valued at $301,000 after buying an additional 914 shares in the last quarter. Rhumbline Advisers acquired a new position in Mobileye Global during the 1st quarter valued at about $27,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Mobileye Global in the 4th quarter valued at $40,000. Finally, Ancora Advisors LLC acquired a new position in shares of Mobileye Global in the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 13.25% of the company's stock.

Mobileye Global Price Performance

Mobileye Global stock traded down $0.29 during trading hours on Thursday, hitting $13.96. The company had a trading volume of 4,273,533 shares, compared to its average volume of 7,379,315. The firm has a market capitalization of $11.38 billion, a P/E ratio of -3.82, a price-to-earnings-growth ratio of 9.33 and a beta of 0.52. The firm's fifty day moving average is $15.96 and its 200-day moving average is $15.55. Mobileye Global Inc. has a fifty-two week low of $10.48 and a fifty-two week high of $22.51.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. The company had revenue of $506.00 million for the quarter, compared to analyst estimates of $466.42 million. Mobileye Global had a negative net margin of 153.91% and a positive return on equity of 0.73%. Mobileye Global's quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.09 EPS. Analysts anticipate that Mobileye Global Inc. will post 0.01 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on MBLY. Mizuho cut their price target on Mobileye Global from $18.00 to $17.00 and set a "neutral" rating on the stock in a research report on Friday, July 25th. The Goldman Sachs Group lowered shares of Mobileye Global from a "buy" rating to a "neutral" rating and set a $17.00 price target on the stock. in a research note on Monday, June 9th. Robert W. Baird decreased their target price on shares of Mobileye Global from $23.00 to $22.00 and set an "outperform" rating on the stock in a research note on Friday, July 25th. TD Cowen cut their price target on shares of Mobileye Global from $22.00 to $20.00 and set a "buy" rating for the company in a report on Friday, July 25th. Finally, Royal Bank Of Canada lifted their target price on shares of Mobileye Global from $14.00 to $17.00 and gave the company a "sector perform" rating in a report on Tuesday, July 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $19.67.

Insider Activity at Mobileye Global

In other news, major shareholder Corp Intel sold 63,731,985 shares of the firm's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $16.05, for a total transaction of $1,022,898,359.25. Following the completion of the transaction, the insider directly owned 50,000,000 shares of the company's stock, valued at approximately $802,500,000. This trade represents a 56.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.80% of the company's stock.

Mobileye Global Company Profile

Mobileye Global Inc develops and deploys advanced driver assistance systems (ADAS) and autonomous driving technologies and solutions worldwide. The company operates through Mobileye and Other segments. It offers Driver Assist comprising ADAS and autonomous vehicle solutions that covers safety features, such as real-time detection of road users, geometry, semantics, and markings to provide safety alerts and emergency interventions; Cloud-Enhanced Driver Assist, a solution for drivers with interpretations of a scene in real-time; Mobileye SuperVision Lite, a navigation and assisted driving solution; and Mobileye SuperVision, an operational point-to-point assisted driving navigation solution on various road types and includes cloud-based enhancements, such as road experience management.