DAVENPORT & Co LLC Has $32.19 Million Stock Position in Mobileye Global Inc. $MBLY

Key Points

• DAVENPORT & Co LLC reduced its stake in Mobileye Global Inc. by 24.5%, holding approximately 1.79 million shares valued at around $32.19 million after the sale.
• Major shareholder Intel Corp sold over 63 million shares of Mobileye at an average price of $16.05, resulting in a significant 56% reduction in their position.
• Mobileye's latest quarterly report showed a 15.3% increase in revenue year-over-year, beating analysts' expectations with earnings per share of $0.13.

DAVENPORT & Co LLC cut its position in Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 24.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,790,055 shares of the company's stock after selling 579,557 shares during the quarter. DAVENPORT & Co LLC owned approximately 0.22% of Mobileye Global worth $32,185,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Mobileye Global by 32.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,002,257 shares of the company's stock valued at $28,822,000 after acquiring an additional 493,281 shares during the period. Primecap Management Co. CA boosted its stake in Mobileye Global by 9.0% during the 1st quarter. Primecap Management Co. CA now owns 1,966,200 shares of the company's stock valued at $28,303,000 after purchasing an additional 161,800 shares during the period. Vanguard Group Inc. grew its holdings in Mobileye Global by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 1,779,189 shares of the company's stock valued at $25,611,000 after buying an additional 63,261 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in Mobileye Global by 433.7% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 891,779 shares of the company's stock worth $12,837,000 after buying an additional 724,695 shares during the period. Finally, Raymond James Financial Inc. lifted its holdings in shares of Mobileye Global by 16.2% during the first quarter. Raymond James Financial Inc. now owns 803,852 shares of the company's stock worth $11,571,000 after buying an additional 111,785 shares during the last quarter. Institutional investors own 13.25% of the company's stock.

Insider Activity at Mobileye Global

In other news, major shareholder Corp Intel sold 63,731,985 shares of the company's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $16.05, for a total value of $1,022,898,359.25. Following the sale, the insider owned 50,000,000 shares of the company's stock, valued at approximately $802,500,000. This represents a 56.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.80% of the company's stock.

Mobileye Global Stock Up 2.4%

Shares of MBLY opened at $15.02 on Tuesday. The stock has a market cap of $12.24 billion, a price-to-earnings ratio of -4.12, a P/E/G ratio of 9.23 and a beta of 0.52. Mobileye Global Inc. has a 12 month low of $11.12 and a 12 month high of $22.51. The company has a 50-day moving average price of $14.13 and a two-hundred day moving average price of $15.07.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $0.13 earnings per share for the quarter, beating 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 positive return on equity of 0.73% and a negative net margin of 153.91%.The company's revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.09 EPS. Mobileye Global has set its FY 2025 guidance at EPS. Equities research analysts expect that Mobileye Global Inc. will post 0.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MBLY has been the topic of several research analyst reports. Mizuho lowered their price objective on shares of Mobileye Global from $18.00 to $17.00 and set a "neutral" rating on the stock in a research note on Friday, July 25th. Needham & Company LLC restated a "buy" rating and issued a $18.00 price target on shares of Mobileye Global in a research report on Friday, July 25th. Wall Street Zen downgraded shares of Mobileye Global from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Wells Fargo & Company increased their target price on shares of Mobileye Global from $18.00 to $24.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Finally, Canaccord Genuity Group boosted their price target on Mobileye Global from $25.00 to $30.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Ten analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $19.50.

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.

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