DNB Asset Management AS Makes New Investment in Mobileye Global Inc. $MBLY

DNB Asset Management AS purchased a new stake in Mobileye Global Inc. (NASDAQ:MBLY) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,847,895 shares of the company’s stock, valued at approximately $40,212,000. DNB Asset Management AS owned approximately 0.35% of Mobileye Global as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Intel Corp acquired a new stake in shares of Mobileye Global during the 3rd quarter valued at approximately $706,000,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Mobileye Global in the 3rd quarter valued at approximately $40,670,000. SG Americas Securities LLC increased its stake in Mobileye Global by 1,090.2% in the 2nd quarter. SG Americas Securities LLC now owns 115,321 shares of the company’s stock valued at $2,073,000 after purchasing an additional 105,632 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in Mobileye Global during the third quarter worth $2,470,000. Finally, Skylands Capital LLC boosted its position in Mobileye Global by 861.0% during the third quarter. Skylands Capital LLC now owns 233,050 shares of the company’s stock worth $3,291,000 after purchasing an additional 208,800 shares in the last quarter. Hedge funds and other institutional investors own 13.25% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. UBS Group cut their price target on Mobileye Global from $13.00 to $12.00 and set a “neutral” rating for the company in a research note on Friday, January 23rd. Canaccord Genuity Group cut their target price on shares of Mobileye Global from $30.00 to $24.00 and set a “buy” rating for the company in a research report on Friday, January 23rd. Needham & Company LLC lowered their price target on shares of Mobileye Global from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, January 23rd. Zacks Research cut shares of Mobileye Global from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 27th. Finally, Barclays raised Mobileye Global from an “equal weight” rating to an “overweight” rating and reduced their target price for the company from $17.00 to $16.00 in a research note on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $15.89.

Mobileye Global Stock Performance

Shares of NASDAQ MBLY opened at $8.75 on Friday. The firm has a market cap of $7.36 billion, a P/E ratio of -17.86 and a beta of 0.58. Mobileye Global Inc. has a 1 year low of $8.32 and a 1 year high of $20.18. The firm’s 50 day moving average price is $9.99 and its 200 day moving average price is $12.15.

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