Mobileye Global Inc. $MBLY Shares Sold by The Manufacturers Life Insurance Company

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

Other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP bought a new stake in shares of Mobileye Global in the 4th quarter worth approximately $27,155,000. Light Street Capital Management LLC purchased a new position in Mobileye Global in the fourth quarter worth $15,276,000. Migdal Insurance & Financial Holdings Ltd. boosted 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 valued at $12,837,000 after buying an additional 724,695 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position 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 buying an additional 493,281 shares during the period. Finally, Nishkama Capital LLC purchased a new stake in shares of Mobileye Global during the first quarter worth about $6,525,000. Institutional investors and hedge funds own 13.25% of the company's stock.

Insider Activity

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

Mobileye Global Trading Up 3.5%

Shares of NASDAQ:MBLY traded up $0.48 during midday trading on Thursday, hitting $14.18. The stock had a trading volume of 2,586,778 shares, compared to its average volume of 5,323,225. The company has a market capitalization of $11.55 billion, a PE ratio of -3.89, a P/E/G ratio of 9.18 and a beta of 0.52. The stock has a 50 day moving average price of $15.38 and a two-hundred day moving average price of $15.29. Mobileye Global Inc. has a 1 year low of $10.48 and a 1 year 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, beating the consensus estimate of $0.11 by $0.02. The company had revenue of $506.00 million for the quarter, compared to the consensus estimate of $466.42 million. Mobileye Global had a negative net margin of 153.91% and a positive return on equity of 0.73%. The company's revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.09 earnings per share. Mobileye Global has set its FY 2025 guidance at EPS. As a group, equities analysts expect that Mobileye Global Inc. will post 0.01 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Mobileye Global from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. TD Cowen cut their price target on shares of Mobileye Global from $22.00 to $20.00 and set a "buy" rating on the stock in a report on Friday, July 25th. Wells Fargo & Company raised their target price on shares of Mobileye Global from $18.00 to $24.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Needham & Company LLC reissued a "buy" rating and set a $18.00 price objective on shares of Mobileye Global in a research report on Friday, July 25th. Finally, UBS Group lifted their target price on shares of Mobileye Global from $15.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Nine investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $19.50.

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.