Cramer Rosenthal Mcglynn LLC Cuts Position in Mobileye Global Inc. $MBLY

Key Points

• Cramer Rosenthal Mcglynn LLC sold 170,320 shares of Mobileye Global Inc. (NASDAQ:MBLY), reducing its holdings by 36.7% to 294,010 shares valued at approximately $4.23 million.
• Insider Corp Intel significantly reduced its stake, selling 63,731,985 shares for over $1 billion, which represents a 56.04% decrease in their position.
• Wall Street analysts have mixed ratings on Mobileye Global, with recent changes including UBS raising the price target from $15 to $18, while several firms downgraded their ratings to "hold."

Cramer Rosenthal Mcglynn LLC lessened its holdings in Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 36.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 294,010 shares of the company's stock after selling 170,320 shares during the period. Cramer Rosenthal Mcglynn LLC's holdings in Mobileye Global were worth $4,232,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Mystic Asset Management Inc. lifted its holdings in shares of 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 acquiring an additional 700 shares during the last quarter. Perigon Wealth Management LLC lifted its holdings in shares of Mobileye Global by 4.6% during the 1st quarter. Perigon Wealth Management LLC now owns 20,892 shares of the company's stock worth $301,000 after acquiring an additional 914 shares during the last quarter. Rhumbline Advisers bought a new stake in shares of Mobileye Global during the 1st quarter worth $27,000. Ancora Advisors LLC bought a new stake in Mobileye Global in the fourth quarter worth $40,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its stake in Mobileye Global by 108.4% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,053 shares of the company's stock worth $87,000 after purchasing an additional 3,149 shares during the last quarter. Hedge funds and other institutional investors own 13.25% of the company's stock.

Insider Activity

In related news, major shareholder Corp Intel sold 63,731,985 shares of the business'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 transaction, the insider owned 50,000,000 shares in the company, valued at $802,500,000. The trade was a 56.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.80% of the stock is owned by corporate insiders.

Mobileye Global Stock Down 0.3%

Shares of NASDAQ:MBLY traded down $0.04 during midday trading on Friday, hitting $14.01. 3,126,270 shares of the stock traded hands, compared to its average volume of 5,365,605. The stock has a market capitalization of $11.42 billion, a PE ratio of -3.84, a P/E/G ratio of 9.16 and a beta of 0.52. The business's 50 day moving average is $15.61 and its two-hundred day moving average is $15.39. Mobileye Global Inc. has a one year low of $10.48 and a one year 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 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $466.42 million. During the same quarter in the previous year, the company earned $0.09 earnings per share. Mobileye Global's quarterly revenue was up 15.3% on a year-over-year basis. Mobileye Global has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Mobileye Global Inc. will post 0.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MBLY has been the subject of several recent research reports. UBS Group boosted their price target on shares of Mobileye Global from $15.00 to $18.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Wells Fargo & Company boosted their price target on shares of Mobileye Global from $18.00 to $24.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. Canaccord Genuity Group boosted their price target on shares of Mobileye Global from $25.00 to $30.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Needham & Company LLC reissued a "buy" rating and issued a $18.00 price target on shares of Mobileye Global in a research note on Friday, July 25th. Finally, Barclays boosted their price target on shares of Mobileye Global from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 16th. 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. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $19.67.

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.