Mobileye Global Inc. $MBLY Position Boosted by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its stake in Mobileye Global Inc. by 16.2%, acquiring an additional 111,785 shares to reach a total of 803,852 shares, worth approximately $11.57 million.
• Insider activity saw major shareholder Corp Intel sell over 63.7 million shares of Mobileye, resulting in a significant 56.04% decrease in their ownership of the company.
• Mobileye Global reported a quarterly revenue of $506 million, exceeding analysts' expectations and indicating a 15.3% increase compared to the same quarter from the previous year.

Raymond James Financial Inc. raised its position in Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 16.2% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 803,852 shares of the company's stock after acquiring an additional 111,785 shares during the period. Raymond James Financial Inc. owned about 0.10% of Mobileye Global worth $11,571,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. DAVENPORT & Co LLC grew its holdings in Mobileye Global by 7.6% in the 1st quarter. DAVENPORT & Co LLC now owns 2,369,612 shares of the company's stock valued at $34,111,000 after buying an additional 167,333 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in 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 increased its stake in shares of Mobileye Global by 9.0% in the first quarter. Primecap Management Co. CA now owns 1,966,200 shares of the company's stock valued at $28,303,000 after buying an additional 161,800 shares during the period. Vanguard Group Inc. grew its stake 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 purchasing an additional 63,261 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new stake in Mobileye Global during the fourth quarter worth approximately $27,155,000. 13.25% of the stock is owned by institutional investors and hedge funds.

Mobileye Global Stock Performance

NASDAQ MBLY traded down $0.30 during trading on Friday, hitting $14.56. The stock had a trading volume of 964,978 shares, compared to its average volume of 5,327,287. The stock has a 50 day simple moving average of $15.31 and a 200 day simple moving average of $15.27. The stock has a market capitalization of $11.86 billion, a price-to-earnings ratio of -3.97, a P/E/G ratio of 8.97 and a beta of 0.52. Mobileye Global Inc. has a one year low of $10.48 and a one year high of $22.51.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $466.42 million. During the same period in the previous year, the company earned $0.09 earnings per share. The business's quarterly revenue was up 15.3% compared to the same quarter last year. Mobileye Global has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Mobileye Global Inc. will post 0.01 EPS for the current year.

Insiders Place Their Bets

In other Mobileye Global news, major shareholder Corp Intel sold 63,731,985 shares of the business's stock in a transaction on 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 transaction, the insider owned 50,000,000 shares in the company, valued at $802,500,000. The trade was a 56.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 2.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Needham & Company LLC restated a "buy" rating and issued a $18.00 target price on shares of Mobileye Global in a report on Friday, July 25th. The Goldman Sachs Group cut Mobileye Global from a "buy" rating to a "neutral" rating and set a $17.00 price target for the company. in a research report on Monday, June 9th. JPMorgan Chase & Co. boosted their target price on Mobileye Global from $10.00 to $12.00 and gave the stock an "underweight" rating in a research report on Thursday, July 17th. Wall Street Zen lowered Mobileye Global from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Finally, Mizuho lowered their target price on Mobileye Global from $18.00 to $17.00 and set a "neutral" 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 issued a Sell rating to the company's stock. According to MarketBeat.com, Mobileye Global has an average rating of "Hold" and an average target price of $19.50.

Mobileye Global 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.