50,000,000 Shares in Mobileye Global Inc. $MBLY Acquired by Intel Corp

Intel Corp purchased a new stake in shares of Mobileye Global Inc. (NASDAQ:MBLY) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 50,000,000 shares of the company’s stock, valued at approximately $706,000,000. Mobileye Global makes up 68.2% of Intel Corp’s investment portfolio, making the stock its biggest holding. Intel Corp owned about 0.06% of Mobileye Global at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. NewEdge Advisors LLC grew its holdings in shares of Mobileye Global by 10.7% during the first quarter. NewEdge Advisors LLC now owns 31,228 shares of the company’s stock valued at $450,000 after buying an additional 3,019 shares during the last quarter. Rhumbline Advisers acquired a new stake in Mobileye Global during the 1st quarter worth about $27,000. KLP Kapitalforvaltning AS purchased a new stake in Mobileye Global during the 2nd quarter valued at about $372,000. Slow Capital Inc. increased its holdings in shares of Mobileye Global by 4.4% in the second quarter. Slow Capital Inc. now owns 234,565 shares of the company’s stock valued at $4,217,000 after purchasing an additional 9,912 shares during the period. Finally, Sanders Morris Harris LLC raised its stake in shares of Mobileye Global by 6.3% in the second quarter. Sanders Morris Harris LLC now owns 42,500 shares of the company’s stock worth $764,000 after purchasing an additional 2,500 shares during the last quarter. 13.25% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on MBLY shares. Zacks Research downgraded shares of Mobileye Global from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Deutsche Bank Aktiengesellschaft raised shares of Mobileye Global from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a report on Monday, October 6th. Evercore ISI lowered their price target on shares of Mobileye Global from $25.00 to $20.00 and set an “outperform” rating on the stock in a report on Monday, November 24th. JPMorgan Chase & Co. upgraded Mobileye Global from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $12.00 to $13.00 in a research note on Tuesday, January 6th. Finally, Mizuho dropped their target price on Mobileye Global from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Friday, October 24th. Nine equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $17.28.

Mobileye Global Stock Down 5.2%

MBLY stock opened at $10.50 on Friday. Mobileye Global Inc. has a 52-week low of $10.04 and a 52-week high of $20.18. The firm has a market cap of $8.54 billion, a P/E ratio of -25.00, a PEG ratio of 2.83 and a beta of 0.57. The company’s 50-day simple moving average is $11.24 and its 200-day simple moving average is $13.48.

Mobileye Global (NASDAQ:MBLY) last released its quarterly earnings results on Thursday, October 23rd. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $504.00 million during the quarter, compared to analysts’ expectations of $479.93 million. Mobileye Global had a positive return on equity of 0.68% and a negative net margin of 17.34%.Mobileye Global’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.10 EPS. On average, analysts anticipate that Mobileye Global Inc. will post 0.01 earnings per share for the current fiscal year.

About Mobileye Global

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.