Primecap Management Co. CA Boosts Stock Holdings in Mobileye Global Inc. (NASDAQ:MBLY)

Key Points

• Primecap Management Co. CA increased its stake in Mobileye Global Inc. by 9.0%, owning over 1.96 million shares worth approximately $28.3 million.
• Mobileye Global's latest earnings report revealed $0.13 EPS, surpassing analyst expectations, while revenue grew by 15.3% year-over-year to $506 million.
• Analyst ratings for Mobileye suggest a mixed outlook, with a consensus rating of "Hold" and a target price of $19.67, indicating potential moderate growth ahead.

Primecap Management Co. CA raised its stake in shares of Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 9.0% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,966,200 shares of the company's stock after purchasing an additional 161,800 shares during the period. Primecap Management Co. CA owned 0.24% of Mobileye Global worth $28,303,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MBLY. Dimensional Fund Advisors LP purchased a new stake in Mobileye Global in the 4th quarter worth approximately $27,155,000. Light Street Capital Management LLC bought a new position in shares of Mobileye Global in the fourth quarter worth approximately $15,276,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Mobileye Global by 433.7% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 891,779 shares of the company's stock worth $12,837,000 after purchasing an additional 724,695 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Mobileye Global during the 4th quarter valued at $13,897,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Mobileye Global by 4.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 14,211,880 shares of the company's stock valued at $283,101,000 after buying an additional 621,062 shares in the last quarter. Hedge funds and other institutional investors own 13.25% of the company's stock.

Insider Buying and Selling at Mobileye Global

In related news, EVP Boaz Ouriel sold 67,493 shares of Mobileye Global stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $16.09, for a total transaction of $1,085,962.37. Following the completion of the sale, the executive vice president owned 107,853 shares in the company, valued at $1,735,354.77. This trade represents a 38.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Corp Intel sold 63,731,985 shares of the firm's stock in a transaction that occurred 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 transaction, 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 disclosure for this sale can be found here. 2.80% of the stock is currently owned by company insiders.

Mobileye Global Price Performance

Shares of Mobileye Global stock traded down $0.38 during trading on Friday, hitting $13.60. The stock had a trading volume of 5,182,158 shares, compared to its average volume of 8,719,196. The stock has a market cap of $11.09 billion, a PE ratio of -3.73, a PEG ratio of 9.16 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 firm's fifty day simple moving average is $16.17 and its 200-day simple moving average is $15.63.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.02. Mobileye Global had a positive return on equity of 0.73% and a negative net margin of 153.91%. The firm had revenue of $506.00 million for the quarter, compared to the consensus estimate of $466.42 million. During the same period in the prior year, the business posted $0.09 earnings per share. The company's revenue for the quarter was up 15.3% on a year-over-year basis. Analysts expect that Mobileye Global Inc. will post 0.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on MBLY shares. BNP Paribas raised Mobileye Global from an "underperform" rating to a "neutral" rating and set a $11.00 price target on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. lifted their target price on Mobileye Global from $10.00 to $12.00 and gave the company an "underweight" rating in a research note on Thursday, July 17th. The Goldman Sachs Group downgraded Mobileye Global from a "buy" rating to a "neutral" rating and set a $17.00 price target for the company. in a research note on Monday, June 9th. Needham & Company LLC reaffirmed a "buy" rating and set a $18.00 price objective on shares of Mobileye Global in a report on Friday, July 25th. Finally, UBS Group upped their target price on shares of Mobileye Global from $15.00 to $18.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $19.67.

Mobileye Global Company Profile

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.