Migdal Insurance & Financial Holdings Ltd. Buys 1,110,123 Shares of Mobileye Global Inc. $MBLY

Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of Mobileye Global Inc. (NASDAQ:MBLY) by 124.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,999,090 shares of the company’s stock after acquiring an additional 1,110,123 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Mobileye Global were worth $28,227,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Mobileye Global during the 3rd quarter valued at about $40,670,000. Intel Corp bought a new position in shares of Mobileye Global in the third quarter worth approximately $706,000,000. SG Americas Securities LLC grew its holdings in shares of Mobileye Global by 21.7% during the third quarter. SG Americas Securities LLC now owns 140,329 shares of the company’s stock valued at $1,981,000 after buying an additional 25,008 shares during the last quarter. KLP Kapitalforvaltning AS increased its position in shares of Mobileye Global by 49.8% during the third quarter. KLP Kapitalforvaltning AS now owns 31,000 shares of the company’s stock valued at $438,000 after acquiring an additional 10,300 shares in the last quarter. Finally, CoreCap Advisors LLC raised its holdings in Mobileye Global by 1,337.3% in the 3rd quarter. CoreCap Advisors LLC now owns 5,476 shares of the company’s stock worth $77,000 after acquiring an additional 5,095 shares during the last quarter. Institutional investors own 13.25% of the company’s stock.

Mobileye Global Stock Up 0.2%

Mobileye Global stock opened at $10.52 on Wednesday. Mobileye Global Inc. has a 52-week low of $10.04 and a 52-week high of $20.18. The company has a market cap of $8.56 billion, a P/E ratio of -25.05, a P/E/G ratio of 2.68 and a beta of 0.57. The business has a 50-day simple moving average of $11.14 and a two-hundred day simple moving average of $13.29.

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

Wall Street Analyst Weigh In

A number of research firms have commented on MBLY. UBS Group reduced their target price on Mobileye Global from $17.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, January 14th. Zacks Research cut Mobileye Global from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Barclays raised Mobileye Global from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $17.00 to $16.00 in a research report on Monday, January 5th. The Goldman Sachs Group lowered their target price on shares of Mobileye Global from $16.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 26th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Mobileye Global in a research note on Friday, October 31st. Nine 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, Mobileye Global has a consensus rating of “Hold” and a consensus price target of $17.28.

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.