Ion Asset Management Ltd. Acquires Shares of 240,000 Mobileye Global Inc. $MBLY

Key Points

• Ion Asset Management bought a new position of 240,000 shares of Mobileye in Q3, valued at approximately $3,389,000, representing about 0.4% of its portfolio and the firm's 29th-largest holding.
• Several large institutions also moved into MBLY — Intel opened a new stake worth roughly $706 million and Two Sigma increased its holding by 2,493,181 shares to 4,383,735 shares (about $61.9 million); institutional ownership totals about 13.25%.
• Mobileye reported Q results with $0.06 EPS (in line) and $446 million revenue (above estimates) but revenue was down 9% year-over-year and the company has a negative net margin; analysts' consensus rating is "Hold" with a $15.89 target.

Ion Asset Management Ltd. bought a new position in shares of Mobileye Global Inc. (NASDAQ:MBLY - Free Report) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 240,000 shares of the company's stock, valued at approximately $3,389,000. Mobileye Global accounts for about 0.4% of Ion Asset Management Ltd.'s investment portfolio, making the stock its 29th largest position.

Other hedge funds have also modified their holdings of the company. Intel Corp acquired a new position in shares of Mobileye Global during the 3rd quarter worth $706,000,000. Burkehill Global Management LP acquired a new stake in shares of Mobileye Global in the 3rd quarter worth approximately $42,360,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Mobileye Global during the third quarter worth $40,670,000. DNB Asset Management AS acquired a new stake in Mobileye Global in the third quarter valued at $40,212,000. Finally, Two Sigma Investments LP raised its stake in shares of Mobileye Global by 131.9% during the 3rd quarter. Two Sigma Investments LP now owns 4,383,735 shares of the company's stock worth $61,898,000 after buying an additional 2,493,181 shares during the last quarter. 13.25% of the stock is owned by institutional investors and hedge funds.

Mobileye Global Trading Down 0.3%

MBLY opened at $7.57 on Monday. Mobileye Global Inc. has a twelve month low of $7.54 and a twelve month high of $20.18. The firm has a market cap of $6.37 billion, a price-to-earnings ratio of -15.45 and a beta of 0.59. The company has a fifty day simple moving average of $9.46 and a 200 day simple moving average of $11.66.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last posted its quarterly earnings data on Thursday, January 22nd. The company reported $0.06 earnings per share for the quarter, meeting analysts' consensus estimates of $0.06. Mobileye Global had a negative net margin of 20.70% and a positive return on equity of 0.21%. The company had revenue of $446.00 million during the quarter, compared to analysts' expectations of $430.69 million. During the same period in the prior year, the company posted $0.13 EPS. The firm's revenue for the quarter was down 9.0% on a year-over-year basis. On average, analysts forecast that Mobileye Global Inc. will post 0.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MBLY. Zacks Research cut shares of Mobileye Global from a "hold" rating to a "strong sell" rating in a research note on Tuesday, January 27th. Royal Bank Of Canada cut their target price on shares of Mobileye Global from $14.00 to $13.00 and set a "sector perform" rating for the company in a research note on Friday, January 23rd. Wolfe Research cut shares of Mobileye Global from an "outperform" rating to a "peer perform" rating in a research note on Monday, January 12th. Morgan Stanley cut their price objective on shares of Mobileye Global from $13.00 to $12.00 and set an "equal weight" rating for the company in a research report on Friday, January 23rd. Finally, JPMorgan Chase & Co. upgraded shares of Mobileye Global from an "underweight" rating to a "neutral" rating and raised their target price for the stock from $12.00 to $13.00 in a research report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Mobileye Global currently has a consensus rating of "Hold" and a consensus target price of $15.89.

About Mobileye Global

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.

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