Mobileye Global Inc. (NASDAQ:MBLY) Shares Bought by Primecap Management Co. CA

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 increased its stake in shares of Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 9.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,966,200 shares of the company's stock after buying an additional 161,800 shares during the quarter. Primecap Management Co. CA owned about 0.24% of Mobileye Global worth $28,303,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Rhumbline Advisers acquired a new position in Mobileye Global during the first quarter valued at $27,000. Strategic Investment Solutions Inc. IL acquired a new position in Mobileye Global during the fourth quarter valued at $40,000. Ancora Advisors LLC acquired a new position in Mobileye Global during the fourth quarter valued at $40,000. PNC Financial Services Group Inc. lifted its position in Mobileye Global by 1,799.7% during the first quarter. PNC Financial Services Group Inc. now owns 5,851 shares of the company's stock valued at $84,000 after purchasing an additional 5,543 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its position in Mobileye Global by 108.4% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 6,053 shares of the company's stock valued at $87,000 after purchasing an additional 3,149 shares during the period. 13.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MBLY has been the subject of a number of research reports. The Goldman Sachs Group downgraded shares of Mobileye Global from a "buy" rating to a "neutral" rating and set a $17.00 target price for the company. in a research report on Monday, June 9th. Wells Fargo & Company boosted their target price on shares of Mobileye Global from $18.00 to $24.00 and gave the company an "overweight" rating in a research report on Wednesday, July 9th. Barclays boosted their target price on shares of Mobileye Global from $14.00 to $16.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 16th. Mizuho decreased 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 report on Friday, July 25th. Finally, UBS Group upped their price objective 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 investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Mobileye Global currently has a consensus rating of "Hold" and an average price target of $19.67.

Mobileye Global Stock Performance

Shares of MBLY traded up $0.20 during mid-day trading on Monday, hitting $13.80. 1,265,684 shares of the company were exchanged, compared to its average volume of 5,499,941. Mobileye Global Inc. has a 1-year low of $10.48 and a 1-year high of $22.51. The company has a 50 day moving average of $16.17 and a 200-day moving average of $15.61. The stock has a market cap of $11.25 billion, a price-to-earnings ratio of -3.78, a price-to-earnings-growth ratio of 8.91 and a beta of 0.52.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last released 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 negative net margin of 153.91% and a positive return on equity of 0.73%. The firm had revenue of $506.00 million during the quarter, compared to the consensus estimate of $466.42 million. During the same quarter in the prior year, the firm earned $0.09 EPS. The company's revenue for the quarter was up 15.3% on a year-over-year basis. Research analysts anticipate that Mobileye Global Inc. will post 0.01 earnings per share for the current fiscal year.

Insider Transactions at Mobileye Global

In other Mobileye Global news, major shareholder Corp Intel sold 63,731,985 shares of the stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $16.05, for a total value of $1,022,898,359.25. Following the completion of the sale, the insider owned 50,000,000 shares in the company, valued at approximately $802,500,000. This represents a 56.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Boaz Ouriel sold 67,493 shares of the 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 of the company's stock, valued at approximately $1,735,354.77. The trade was a 38.49% decrease in their position. The disclosure for this sale can be found here. 2.80% of the stock is currently owned by corporate insiders.

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.