Victory Capital Management Inc. Makes New Investment in Mobileye Global Inc. (NASDAQ:MBLY)

Victory Capital Management Inc. purchased a new stake in Mobileye Global Inc. (NASDAQ:MBLYFree Report) during the third quarter, Holdings Channel reports. The fund purchased 898,792 shares of the company’s stock, valued at approximately $37,345,000.

Other large investors have also recently made changes to their positions in the company. Jennison Associates LLC lifted its stake in Mobileye Global by 85.2% during the 2nd quarter. Jennison Associates LLC now owns 16,132,453 shares of the company’s stock worth $619,809,000 after acquiring an additional 7,421,694 shares in the last quarter. Norges Bank purchased a new stake in Mobileye Global during the fourth quarter worth about $423,732,000. Baillie Gifford & Co. increased its stake in Mobileye Global by 37.5% during the second quarter. Baillie Gifford & Co. now owns 8,495,206 shares of the company’s stock worth $326,386,000 after purchasing an additional 2,319,071 shares during the period. Price T Rowe Associates Inc. MD acquired a new stake in shares of Mobileye Global during the fourth quarter worth about $82,304,000. Finally, Marshall Wace LLP boosted its stake in shares of Mobileye Global by 7,591.9% in the second quarter. Marshall Wace LLP now owns 2,273,352 shares of the company’s stock valued at $87,342,000 after purchasing an additional 2,243,797 shares during the period. 14.85% of the stock is currently owned by institutional investors and hedge funds.

Mobileye Global Price Performance

Shares of NASDAQ MBLY opened at $26.25 on Wednesday. The business has a 50-day moving average price of $37.05 and a 200 day moving average price of $37.59. Mobileye Global Inc. has a 52-week low of $25.88 and a 52-week high of $48.11.

Mobileye Global (NASDAQ:MBLYGet Free Report) last posted its quarterly earnings data on Thursday, January 25th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. The business had revenue of $637.00 million during the quarter, compared to the consensus estimate of $637.53 million. Mobileye Global had a positive return on equity of 2.92% and a negative net margin of 1.30%. The company’s revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.27 earnings per share. As a group, sell-side analysts expect that Mobileye Global Inc. will post 0.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MBLY has been the topic of several recent research reports. Raymond James cut their target price on shares of Mobileye Global from $48.00 to $40.00 in a research note on Monday, January 22nd. Morgan Stanley upped their price objective on Mobileye Global from $34.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Monday, October 30th. Bank of America lowered Mobileye Global from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $47.00 to $22.00 in a report on Thursday, January 4th. Barclays cut their price target on Mobileye Global from $46.00 to $43.00 and set an “overweight” rating on the stock in a report on Friday, January 26th. Finally, StockNews.com cut Mobileye Global from a “hold” rating to a “sell” rating in a research note on Sunday, November 5th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Mobileye Global has a consensus rating of “Moderate Buy” and a consensus price target of $45.10.

Read Our Latest Analysis on MBLY

About Mobileye Global

(Free Report)

Mobileye Global Inc engages in the development and deployment of advanced driver assistance systems (ADAS) and autonomous driving technologies and solutions worldwide. The company offers Driver Assist, which comprise 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.

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Institutional Ownership by Quarter for Mobileye Global (NASDAQ:MBLY)

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