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

A number of other large investors have also recently made changes to their positions in MBLY. Advisory Services Network LLC purchased a new stake in Mobileye Global in the fourth quarter worth about $181,000. Rockefeller Capital Management L.P. lifted its stake in Mobileye Global by 77.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 32,766 shares of the company's stock worth $653,000 after acquiring an additional 14,296 shares during the period. XTX Topco Ltd purchased a new stake in Mobileye Global in the fourth quarter worth about $206,000. NewEdge Advisors LLC lifted its stake in Mobileye Global by 31.1% in the fourth quarter. NewEdge Advisors LLC now owns 28,209 shares of the company's stock worth $562,000 after acquiring an additional 6,694 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new stake in Mobileye Global in the fourth quarter worth about $2,946,000. 13.25% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Corp Intel sold 63,731,985 shares of the firm's stock in a transaction on 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 sale, the insider 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.80% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Mizuho lowered their price objective on shares of Mobileye Global from $18.00 to $17.00 and set a "neutral" rating for the company in a research note on Friday, July 25th. Canaccord Genuity Group boosted their target price on shares of Mobileye Global from $25.00 to $30.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Needham & Company LLC reiterated a "buy" rating and issued a $18.00 target price on shares of Mobileye Global in a report on Friday, July 25th. TD Cowen reduced their target price on shares of Mobileye Global from $22.00 to $20.00 and set a "buy" rating for the company in a report on Friday, July 25th. Finally, BNP Paribas upgraded shares of Mobileye Global from an "underperform" rating to a "neutral" rating and set a $11.00 target price for the company in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $19.67.

Mobileye Global Trading Up 0.4%

Shares of NASDAQ:MBLY opened at $14.01 on Monday. Mobileye Global Inc. has a twelve month low of $10.48 and a twelve month high of $22.51. The company's 50 day moving average is $15.91 and its 200 day moving average is $15.53. The company has a market cap of $11.42 billion, a PE ratio of -3.84, a price-to-earnings-growth ratio of 9.18 and a beta of 0.52.

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, topping analysts' consensus estimates of $0.11 by $0.02. The firm had revenue of $506.00 million for the quarter, compared to the consensus estimate of $466.42 million. Mobileye Global had a negative net margin of 153.91% and a positive return on equity of 0.73%. The firm's quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.09 earnings per share. Equities research analysts predict that Mobileye Global Inc. will post 0.01 earnings per share for the current fiscal 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.

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