Primecap Management Co. CA Cuts Stake in Mobileye Global Inc. (NASDAQ:MBLY)

Primecap Management Co. CA lessened its stake in Mobileye Global Inc. (NASDAQ:MBLY) by 8.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,764,400 shares of the company’s stock after selling 163,404 shares during the quarter. Primecap Management Co. CA’s holdings in Mobileye Global were worth $24,172,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of MBLY. BCGM Wealth Management LLC raised its holdings in Mobileye Global by 178.0% in the third quarter. BCGM Wealth Management LLC now owns 190,595 shares of the company’s stock worth $2,611,000 after buying an additional 122,031 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp purchased a new position in Mobileye Global in the 1st quarter worth approximately $1,294,000. Raymond James & Associates raised its holdings in Mobileye Global by 258.7% in the 2nd quarter. Raymond James & Associates now owns 336,417 shares of the company’s stock worth $9,448,000 after acquiring an additional 242,640 shares during the last quarter. AXA S.A. lifted its position in Mobileye Global by 35.6% in the 2nd quarter. AXA S.A. now owns 518,076 shares of the company’s stock valued at $14,550,000 after acquiring an additional 135,967 shares in the last quarter. Finally, M&G Plc boosted its stake in Mobileye Global by 8.9% during the 2nd quarter. M&G Plc now owns 1,350,945 shares of the company’s stock valued at $37,826,000 after purchasing an additional 110,032 shares during the last quarter. Institutional investors own 13.25% of the company’s stock.

Mobileye Global Price Performance

Shares of NASDAQ MBLY opened at $17.34 on Friday. The stock has a market cap of $14.07 billion, a PE ratio of -4.75 and a beta of 0.07. Mobileye Global Inc. has a 1 year low of $10.48 and a 1 year high of $44.48. The firm has a fifty day moving average price of $13.75 and a 200-day moving average price of $19.49.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MBLY shares. Evercore ISI lowered their price target on Mobileye Global from $35.00 to $30.00 and set an “outperform” rating on the stock in a report on Monday, October 14th. Wolfe Research lowered shares of Mobileye Global from an “outperform” rating to a “peer perform” rating in a research note on Thursday, September 5th. Loop Capital began coverage on shares of Mobileye Global in a research report on Tuesday, November 12th. They set a “buy” rating and a $20.00 price objective on the stock. Daiwa America downgraded shares of Mobileye Global from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 5th. Finally, Fox Advisors cut Mobileye Global from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $23.14.

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.