Charles Schwab Investment Management Inc. Decreases Position in Mobileye Global Inc. $MBLY

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Mobileye Global Inc. by 62.7%, selling 962,637 shares, and now owns 571,937 shares valued at $8.23 million.
• Institutional investors now hold 13.25% of Mobileye's stock, with significant new stakes acquired by Rhumbline Advisers and PNC Financial Services Group.
• Despite a 15.3% year-over-year revenue increase, Mobileye reported a negative net margin of 153.91% and analysts have mixed ratings, resulting in a consensus target price of $19.67.

Charles Schwab Investment Management Inc. trimmed its holdings in Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 62.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 571,937 shares of the company's stock after selling 962,637 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.07% of Mobileye Global worth $8,233,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. The Manufacturers Life Insurance Company grew its stake in Mobileye Global by 4.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 14,211,880 shares of the company's stock valued at $283,101,000 after buying an additional 621,062 shares in the last quarter. DAVENPORT & Co LLC lifted its stake in Mobileye Global by 7.6% in the 1st quarter. DAVENPORT & Co LLC now owns 2,369,612 shares of the company's stock worth $34,111,000 after purchasing an additional 167,333 shares in the last quarter. Primecap Management Co. CA lifted its stake in Mobileye Global by 9.0% in the 1st quarter. Primecap Management Co. CA now owns 1,966,200 shares of the company's stock worth $28,303,000 after purchasing an additional 161,800 shares in the last quarter. Vanguard Group Inc. lifted its stake in Mobileye Global by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 1,779,189 shares of the company's stock worth $25,611,000 after purchasing an additional 63,261 shares in the last quarter. Finally, Dimensional Fund Advisors LP purchased a new stake in Mobileye Global in the 4th quarter worth approximately $27,155,000. 13.25% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Mobileye Global

In related news, major shareholder Corp Intel sold 63,731,985 shares of Mobileye Global 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 $802,500,000. This trade represents a 56.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MBLY has been the topic of several research reports. Canaccord Genuity Group raised their price objective on shares of Mobileye Global from $25.00 to $30.00 and gave the company a "buy" rating in a research report on Friday, July 25th. JPMorgan Chase & Co. raised their price target on shares of Mobileye Global from $10.00 to $12.00 and gave the stock an "underweight" rating in a report on Thursday, July 17th. 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 report on Monday, June 9th. Wall Street Zen lowered shares of Mobileye Global from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Finally, UBS Group lifted their target price on shares of Mobileye Global from $15.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Nine analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $19.67.

Mobileye Global Price Performance

NASDAQ MBLY traded down $0.04 during trading hours on Friday, reaching $14.01. 3,126,292 shares of the company's stock traded hands, compared to its average volume of 3,861,977. Mobileye Global Inc. has a 52-week low of $10.48 and a 52-week high of $22.51. The firm has a market cap of $11.42 billion, a PE ratio of -3.84, a PEG ratio of 9.18 and a beta of 0.52. The firm has a 50-day simple moving average of $15.59 and a 200 day simple moving average of $15.34.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.02. Mobileye Global had a negative net margin of 153.91% and a positive return on equity of 0.73%. The company had revenue of $506.00 million during the quarter, compared to analysts' expectations of $466.42 million. During the same period last year, the company posted $0.09 EPS. Mobileye Global's revenue was up 15.3% on a year-over-year basis. Mobileye Global has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Mobileye Global Inc. will post 0.01 EPS for the current fiscal year.

About Mobileye Global

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.