Intel Corp Invests $706 Million in Mobileye Global Inc. $MBLY

Key Points

• Intel Corp acquired 50,000,000 shares (≈$706 million) of Mobileye, giving it a 6.13% stake and—per Intel's 13F filing—making Mobileye 68.2% of Intel's reported portfolio as its largest holding.
• Mobileye beat the quarter with $0.09 EPS and $504 million in revenue but still shows a negative net margin (-17.34%); the stock is down about 5.2%, trading near $10.50 with a market cap of $8.54 billion.
• Analyst sentiment is mixed: the consensus rating is "Hold" with an average target of $17.28, while several firms have recently cut price targets or adjusted ratings.

Intel Corp acquired a new stake in shares of Mobileye Global Inc. (NASDAQ:MBLY - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 50,000,000 shares of the company's stock, valued at approximately $706,000,000. Mobileye Global accounts for 68.2% of Intel Corp's portfolio, making the stock its biggest holding. Intel Corp owned 6.13% of Mobileye Global as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Primecap Management Co. CA boosted its stake in shares of Mobileye Global by 13.6% during the second quarter. Primecap Management Co. CA now owns 2,233,200 shares of the company's stock valued at $40,153,000 after purchasing an additional 267,000 shares during the period. Cubist Systematic Strategies LLC boosted its position in Mobileye Global by 218.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 1,593,168 shares of the company's stock valued at $28,645,000 after buying an additional 1,093,289 shares during the period. Geode Capital Management LLC grew its stake in Mobileye Global by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,268,449 shares of the company's stock worth $22,812,000 after acquiring an additional 5,340 shares in the last quarter. Invesco Ltd. purchased a new position in shares of Mobileye Global during the second quarter worth approximately $19,393,000. Finally, Jump Financial LLC bought a new stake in shares of Mobileye Global during the second quarter valued at approximately $17,987,000. Hedge funds and other institutional investors own 13.25% of the company's stock.

Mobileye Global Stock Down 5.2%

NASDAQ MBLY opened at $10.50 on Friday. Mobileye Global Inc. has a 52 week low of $10.04 and a 52 week high of $20.18. The company has a 50 day moving average price of $11.24 and a 200 day moving average price of $13.48. The firm has a market cap of $8.54 billion, a PE ratio of -25.00, a price-to-earnings-growth ratio of 2.83 and a beta of 0.57.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last announced its earnings results on Thursday, October 23rd. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. The company had revenue of $504.00 million during the quarter, compared to the consensus estimate of $479.93 million. Mobileye Global had a negative net margin of 17.34% and a positive return on equity of 0.68%. Mobileye Global's revenue was up 3.7% compared to the same quarter last year. During the same period last year, the firm earned $0.10 earnings per share. On average, equities research analysts anticipate that Mobileye Global Inc. will post 0.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on MBLY. Barclays upgraded Mobileye Global from an "equal weight" rating to an "overweight" rating and reduced their price objective for the stock from $17.00 to $16.00 in a report on Monday, January 5th. The Goldman Sachs Group cut their price target on Mobileye Global from $16.00 to $13.00 and set a "neutral" rating on the stock in a research note on Wednesday, November 26th. TD Cowen dropped their target price on shares of Mobileye Global from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Friday, October 24th. JPMorgan Chase & Co. upgraded shares of Mobileye Global from an "underweight" rating to a "neutral" rating and boosted their price target for the company from $12.00 to $13.00 in a report on Tuesday, January 6th. Finally, Mizuho dropped their price objective on shares of Mobileye Global from $17.00 to $15.00 and set a "neutral" rating on the stock in a research note on Friday, October 24th. Nine analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $17.28.

Mobileye Global Company Profile

Mobileye Global Inc NASDAQ: MBLY is a leader in the development of advanced driver-assistance systems (ADAS) and autonomous driving technologies. Headquartered in Jerusalem, Israel, the company designs and supplies computer vision-based solutions that enable vehicles to detect and respond to road conditions, obstacles and signage. Mobileye's core offering centers on its proprietary EyeQ system-on-a-chip (SoC) family, which processes video streams from automotive cameras to deliver features such as lane-keeping assist, adaptive cruise control, collision prevention and traffic sign recognition.

Founded in 1999 by Prof.

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