LPL Financial LLC Acquires 40,724 Shares of Mobileye Global Inc. $MBLY

Key Points

• LPL Financial LLC increased its stake in Mobileye Global Inc. by 27.5%, owning 188,698 shares worth approximately $2.72 million after purchasing additional shares in Q1.
• Major shareholder Corp Intel sold over 63 million shares of Mobileye Global, reducing its ownership by 56.04% and retaining about 50 million shares valued at around $802 million.
• Recent analyst ratings show a mix of opinions, with Canaccord Genuity boosting the price target to $30 while Mizuho lowered it to $17, indicating differing outlooks on the stock's performance.

LPL Financial LLC increased its holdings in shares of Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 27.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 188,698 shares of the company's stock after purchasing an additional 40,724 shares during the period. LPL Financial LLC's holdings in Mobileye Global were worth $2,716,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MBLY. Advisory Services Network LLC acquired a new stake in Mobileye Global during the fourth quarter worth approximately $181,000. Rockefeller Capital Management L.P. grew its stake in Mobileye Global by 77.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 32,766 shares of the company's stock worth $653,000 after purchasing an additional 14,296 shares during the period. XTX Topco Ltd acquired a new stake in Mobileye Global during the fourth quarter worth approximately $206,000. NewEdge Advisors LLC grew its stake in Mobileye Global by 31.1% during the fourth quarter. NewEdge Advisors LLC now owns 28,209 shares of the company's stock worth $562,000 after purchasing an additional 6,694 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in Mobileye Global in the fourth quarter valued at approximately $2,946,000. Institutional investors and hedge funds own 13.25% of the company's stock.

Analyst Upgrades and Downgrades

MBLY has been the subject of a number of research reports. Royal Bank Of Canada raised their price objective on Mobileye Global from $14.00 to $17.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 29th. UBS Group raised their price objective on Mobileye Global from $15.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. The Goldman Sachs Group cut Mobileye Global from a "buy" rating to a "neutral" rating and set a $17.00 price objective for the company. in a research note on Monday, June 9th. Barclays raised their price objective on Mobileye Global from $14.00 to $16.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Finally, Robert W. Baird reduced their price objective on Mobileye Global from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Friday, July 25th. Nine research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Mobileye Global has a consensus rating of "Hold" and a consensus price target of $19.67.

Insider Buying and Selling

In related news, major shareholder Corp Intel sold 63,731,985 shares of Mobileye Global stock in a transaction on Friday, July 11th. The stock was sold at an average price of $16.05, for a total transaction of $1,022,898,359.25. Following the sale, the insider directly owned 50,000,000 shares in the company, valued at approximately $802,500,000. This trade represents a 56.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.80% of the company's stock.

Mobileye Global Trading Up 1.9%

Shares of NASDAQ:MBLY traded up $0.26 during mid-day trading on Friday, hitting $14.15. 3,278,611 shares of the company traded hands, compared to its average volume of 5,680,981. The stock has a market cap of $11.53 billion, a P/E ratio of -3.88, a P/E/G ratio of 9.10 and a beta of 0.52. Mobileye Global Inc. has a 12-month low of $10.48 and a 12-month high of $22.51. The stock has a 50-day moving average price of $15.71 and a two-hundred day moving average price of $15.46.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last announced its 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. The company had revenue of $506.00 million for the quarter, compared to analysts' expectations of $466.42 million. Mobileye Global had a positive return on equity of 0.73% and a negative net margin of 153.91%.Mobileye Global's quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 earnings per share. Mobileye Global has set its FY 2025 guidance at EPS. As a group, analysts expect that Mobileye Global Inc. will post 0.01 earnings per share for the current 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.