DNB Asset Management AS Buys New Shares in Mobileye Global Inc. $MBLY

DNB Asset Management AS purchased a new position in shares of Mobileye Global Inc. (NASDAQ:MBLY) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,847,895 shares of the company’s stock, valued at approximately $40,212,000.

Other hedge funds also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Mobileye Global during the 2nd quarter worth $31,000. Rhumbline Advisers purchased a new stake in Mobileye Global during the first quarter valued at about $27,000. Tower Research Capital LLC TRC grew its position in Mobileye Global by 464.0% during the second quarter. Tower Research Capital LLC TRC now owns 3,288 shares of the company’s stock valued at $59,000 after acquiring an additional 2,705 shares during the period. KBC Group NV acquired a new stake in Mobileye Global during the second quarter worth about $65,000. Finally, MAI Capital Management raised its holdings in shares of Mobileye Global by 22.2% in the 3rd quarter. MAI Capital Management now owns 4,400 shares of the company’s stock worth $62,000 after purchasing an additional 800 shares during the period. Institutional investors and hedge funds own 13.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. UBS Group decreased their target price on Mobileye Global from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Friday, January 23rd. Evercore decreased their price objective on shares of Mobileye Global from $25.00 to $20.00 and set an “outperform” rating for the company in a research note on Monday, November 24th. Morgan Stanley cut their target price on shares of Mobileye Global from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Friday, January 23rd. Royal Bank Of Canada reduced their target price on shares of Mobileye Global from $14.00 to $13.00 and set a “sector perform” rating on the stock in a report on Friday, January 23rd. Finally, Wells Fargo & Company lowered their price target on Mobileye Global from $24.00 to $18.00 and set an “overweight” rating for the company in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $15.89.

Mobileye Global Trading Down 0.5%

MBLY opened at $8.75 on Friday. Mobileye Global Inc. has a twelve month low of $8.32 and a twelve month high of $20.18. The firm has a market cap of $7.36 billion, a price-to-earnings ratio of -17.86 and a beta of 0.58. The company has a fifty day simple moving average of $9.99 and a 200 day simple moving average of $12.15.

Mobileye Global (NASDAQ:MBLY) last issued its quarterly earnings data on Thursday, January 22nd. The company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. The firm had revenue of $446.00 million for the quarter, compared to analyst estimates of $430.69 million. Mobileye Global had a negative net margin of 20.70% and a positive return on equity of 0.21%. The firm’s revenue was down 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.13 EPS. On average, analysts forecast that Mobileye Global Inc. will post 0.01 earnings per share for the current fiscal year.

Mobileye Global Profile

Mobileye Global Inc (NASDAQ: MBLY) is a leader in the development of advanced driver-assistance systems (ADAS) and autonomous driving technologies. Headquartered in Jerusalem, Israel, the company designs and supplies computer vision-based solutions that enable vehicles to detect and respond to road conditions, obstacles and signage. Mobileye’s core offering centers on its proprietary EyeQ system-on-a-chip (SoC) family, which processes video streams from automotive cameras to deliver features such as lane-keeping assist, adaptive cruise control, collision prevention and traffic sign recognition.

Founded in 1999 by Prof.