Needham Investment Management LLC Buys 27,000 Shares of Mobileye Global Inc. $MBLY

Key Points

• Needham Investment Management LLC increased its stake in Mobileye Global by 54%, acquiring an additional 27,000 shares to total 77,000 shares valued at approximately $1.1 million.
• Several hedge funds also adjusted their positions, with Migdal Insurance & Financial Holdings notably increasing its stake by 433.7%, acquiring 724,695 shares.
• Mobileye Global reported $506 million in revenue for the last quarter, exceeding expectations, and announced a positive EPS of $0.13 which beat analyst forecasts.

Needham Investment Management LLC grew its holdings in Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 54.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,000 shares of the company's stock after purchasing an additional 27,000 shares during the period. Needham Investment Management LLC's holdings in Mobileye Global were worth $1,108,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. DAVENPORT & Co LLC raised its holdings in shares of Mobileye Global by 7.6% during the first quarter. DAVENPORT & Co LLC now owns 2,369,612 shares of the company's stock worth $34,111,000 after acquiring an additional 167,333 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Mobileye Global by 32.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,002,257 shares of the company's stock valued at $28,822,000 after purchasing an additional 493,281 shares during the last quarter. Primecap Management Co. CA grew its position in Mobileye Global by 9.0% during the first quarter. Primecap Management Co. CA now owns 1,966,200 shares of the company's stock worth $28,303,000 after buying an additional 161,800 shares in the last quarter. Vanguard Group Inc. grew its position in Mobileye Global by 3.7% during the first quarter. Vanguard Group Inc. now owns 1,779,189 shares of the company's stock worth $25,611,000 after buying an additional 63,261 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. grew its position in Mobileye Global by 433.7% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 891,779 shares of the company's stock worth $12,837,000 after buying an additional 724,695 shares in the last quarter. Hedge funds and other institutional investors own 13.25% of the company's stock.

Mobileye Global Price Performance

Shares of MBLY traded up $0.19 on Thursday, hitting $14.07. The company's stock had a trading volume of 1,585,750 shares, compared to its average volume of 5,325,105. The company has a market capitalization of $11.46 billion, a PE ratio of -3.85, a PEG ratio of 9.76 and a beta of 0.52. Mobileye Global Inc. has a fifty-two week low of $10.48 and a fifty-two week high of $22.51. The company has a 50 day moving average price of $15.01 and a 200 day moving average price of $15.18.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. The business had revenue of $506.00 million for the quarter, compared to the consensus estimate 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 revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.09 EPS. Mobileye Global has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Mobileye Global Inc. will post 0.01 EPS for the current year.

Insider Activity at Mobileye Global

In other news, major shareholder Corp Intel sold 63,731,985 shares of the business'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 value of $1,022,898,359.25. Following the transaction, the insider directly owned 50,000,000 shares of the company's stock, valued at $802,500,000. The trade was a 56.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.80% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on MBLY. Mizuho decreased their target price on Mobileye Global from $18.00 to $17.00 and set a "neutral" rating on the stock in a research report on Friday, July 25th. 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. TD Cowen decreased their price objective on Mobileye Global from $22.00 to $20.00 and set a "buy" rating on the stock in a report on Friday, July 25th. Canaccord Genuity Group lifted their price objective on Mobileye Global from $25.00 to $30.00 and gave the company a "buy" rating in a report on Friday, July 25th. Finally, Wall Street Zen downgraded Mobileye Global from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Nine investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $19.59.

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.