Patten & Patten Inc. TN Decreases Stock Position in Mobileye Global Inc. (NASDAQ:MBLY)

Patten & Patten Inc. TN lowered its stake in Mobileye Global Inc. (NASDAQ:MBLY) by 23.6% during the 4th quarter, Holdings Channel reports. The firm owned 78,785 shares of the company’s stock after selling 24,365 shares during the quarter. Patten & Patten Inc. TN’s holdings in Mobileye Global were worth $1,569,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of MBLY. The Manufacturers Life Insurance Company increased its holdings in shares of Mobileye Global by 49.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,590,818 shares of the company’s stock worth $186,194,000 after buying an additional 4,517,217 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Mobileye Global by 168.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,526,234 shares of the company’s stock worth $20,909,000 after buying an additional 957,565 shares during the last quarter. Loomis Sayles & Co. L P increased its holdings in shares of Mobileye Global by 85.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,668,331 shares of the company’s stock worth $22,856,000 after buying an additional 768,169 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Mobileye Global in the 4th quarter worth about $13,786,000. Finally, Principal Financial Group Inc. bought a new stake in shares of Mobileye Global in the 4th quarter worth about $12,202,000. Hedge funds and other institutional investors own 13.25% of the company’s stock.

Wall Street Analysts Forecast Growth

MBLY has been the topic of a number of research reports. Wolfe Research upgraded shares of Mobileye Global from a “peer perform” rating to an “outperform” rating in a report on Thursday, December 5th. Oppenheimer assumed coverage on shares of Mobileye Global in a report on Wednesday, January 15th. They issued an “outperform” rating and a $28.00 target price on the stock. The Goldman Sachs Group upped their price target on shares of Mobileye Global from $18.00 to $20.00 and gave the company a “buy” rating in a report on Monday, February 24th. UBS Group upped their price target on shares of Mobileye Global from $14.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, January 16th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $20.00 price target on shares of Mobileye Global in a report on Friday, January 31st. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Mobileye Global has a consensus rating of “Hold” and a consensus price target of $22.95.

Mobileye Global Stock Performance

Shares of MBLY opened at $14.97 on Monday. The stock has a market capitalization of $12.14 billion, a PE ratio of -3.92, a PEG ratio of 69.54 and a beta of 0.29. Mobileye Global Inc. has a fifty-two week low of $10.48 and a fifty-two week high of $34.00. The company has a 50 day moving average price of $16.47 and a 200-day moving average price of $15.62.

Mobileye Global (NASDAQ:MBLY) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.08). Mobileye Global had a negative return on equity of 0.34% and a negative net margin of 186.82%. Equities research analysts forecast that Mobileye Global Inc. will post 0.01 EPS for the current year.

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.