The Manufacturers Life Insurance Company Sells 651,700 Shares of Mobileye Global Inc. $MBLY

Key Points

• The Manufacturers Life Insurance Company reduced its stake in Mobileye Global Inc. by 4.6%, holding 1.67% of the company valued at approximately $195.20 million after selling 651,700 shares.
• Mobileye Global reported earnings per share of $0.13 for the last quarter, exceeding estimates of $0.11, with revenue reaching $506 million compared to an expectation of $466.42 million.
• Analysts have varying opinions on Mobileye Global, with nine analysts rating it a Buy, nine a Hold, and one a Sell, leading to a consensus price target of $19.67.

The Manufacturers Life Insurance Company reduced its position in shares of Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 4.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,560,180 shares of the company's stock after selling 651,700 shares during the period. The Manufacturers Life Insurance Company owned about 1.67% of Mobileye Global worth $195,199,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP acquired a new stake in shares of Mobileye Global during the 4th quarter worth approximately $27,155,000. Light Street Capital Management LLC acquired a new position in Mobileye Global during the fourth quarter valued at approximately $15,276,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings 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 valued at $12,837,000 after purchasing an additional 724,695 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Mobileye Global by 32.7% during 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 period. Finally, Nishkama Capital LLC acquired a new position in Mobileye Global during the first quarter valued at approximately $6,525,000. 13.25% of the stock is owned by institutional investors.

Insider Activity

In related news, major shareholder Corp Intel sold 63,731,985 shares of the company's 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 sale, the insider owned 50,000,000 shares in the company, valued at $802,500,000. This represents a 56.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MBLY shares. Needham & Company LLC reiterated a "buy" rating and issued a $18.00 price target on shares of Mobileye Global in a report on Friday, July 25th. Canaccord Genuity Group upped their price target on shares of Mobileye Global from $25.00 to $30.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Barclays lifted their price objective on shares of Mobileye Global from $14.00 to $16.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. JPMorgan Chase & Co. lifted their price target on Mobileye Global from $10.00 to $12.00 and gave the stock an "underweight" rating in a report on Thursday, July 17th. Finally, Royal Bank Of Canada boosted their target price on shares of Mobileye Global from $14.00 to $17.00 and gave the company a "sector perform" rating in a research report on Tuesday, July 29th. 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. According to MarketBeat, Mobileye Global currently has an average rating of "Hold" and a consensus price target of $19.67.

Mobileye Global Trading Down 2.0%

NASDAQ MBLY traded down $0.28 on Tuesday, hitting $13.73. 3,180,156 shares of the company were exchanged, compared to its average volume of 5,352,896. The stock has a fifty day moving average of $15.55 and a 200-day moving average of $15.31. The company has a market cap of $11.19 billion, a PE ratio of -3.76, a PEG ratio of 9.18 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.

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 the consensus estimate of $0.11 by $0.02. The business had revenue of $506.00 million for the quarter, compared to analyst estimates of $466.42 million. Mobileye Global had a positive return on equity of 0.73% and a negative net margin of 153.91%.The company's quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.09 earnings per share. Mobileye Global has set its FY 2025 guidance at EPS. On average, analysts expect that Mobileye Global Inc. will post 0.01 earnings per share for the current year.

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.