Primecap Management Co. CA Purchases 40,000 Shares of Mobileye Global Inc. (NASDAQ:MBLY)

Primecap Management Co. CA boosted its position in shares of Mobileye Global Inc. (NASDAQ:MBLY) by 2.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,804,400 shares of the company’s stock after buying an additional 40,000 shares during the quarter. Primecap Management Co. CA’s holdings in Mobileye Global were worth $35,944,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its holdings in Mobileye Global by 49.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,590,818 shares of the company’s stock valued at $186,194,000 after buying an additional 4,517,217 shares during the last quarter. Loomis Sayles & Co. L P raised its holdings in Mobileye Global by 85.3% during the 3rd quarter. Loomis Sayles & Co. L P now owns 1,668,331 shares of the company’s stock valued at $22,856,000 after buying an additional 768,169 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Mobileye Global by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,534,574 shares of the company’s stock valued at $30,569,000 after buying an additional 8,340 shares during the last quarter. Geode Capital Management LLC raised its holdings in Mobileye Global by 24.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,431,325 shares of the company’s stock valued at $19,615,000 after buying an additional 279,082 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Mobileye Global during the 4th quarter valued at $13,786,000. 13.25% of the stock is currently owned by institutional investors.

Mobileye Global Stock Down 3.5 %

Shares of NASDAQ MBLY opened at $14.44 on Wednesday. The firm’s 50-day moving average price is $16.23 and its 200-day moving average price is $15.63. The company has a market cap of $11.71 billion, a PE ratio of -3.78, a PEG ratio of 69.54 and a beta of 0.29. Mobileye Global Inc. has a 52-week low of $10.48 and a 52-week high of $34.00.

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

Analyst Ratings Changes

Several research analysts have commented on the stock. UBS Group upped their price objective on shares of Mobileye Global from $14.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, January 16th. Wolfe Research upgraded shares of Mobileye Global from a “peer perform” rating to an “outperform” rating in a report on Thursday, December 5th. The Goldman Sachs Group upped their price objective on shares of Mobileye Global from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, February 24th. Loop Capital upped their price objective on shares of Mobileye Global from $20.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $11.00 price objective on shares of Mobileye Global in a report on Thursday, December 5th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $22.95.

Mobileye Global Company Profile

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.