Federated Hermes Inc. Sells 216,539 Shares of Mobileye Global Inc. (NASDAQ:MBLY)

Federated Hermes Inc. lowered its position in shares of Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 57.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 163,261 shares of the company's stock after selling 216,539 shares during the quarter. Federated Hermes Inc.'s holdings in Mobileye Global were worth $3,252,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Mobileye Global in the 4th quarter worth $95,937,000. Yiheng Capital Management L.P. acquired a new position in Mobileye Global in the fourth quarter valued at about $14,940,000. Raymond James Financial Inc. bought a new position in Mobileye Global during the fourth quarter worth about $13,786,000. Principal Financial Group Inc. acquired a new stake in shares of Mobileye Global in the 4th quarter valued at approximately $12,202,000. Finally, Alberta Investment Management Corp boosted its stake in Mobileye Global by 932.4% during the 4th quarter. Alberta Investment Management Corp now owns 566,737 shares of the company's stock worth $11,289,000 after acquiring an additional 511,840 shares during the last quarter. Institutional investors own 13.25% of the company's stock.

Mobileye Global Stock Performance

NASDAQ:MBLY traded down $0.40 during mid-day trading on Friday, hitting $11.90. 2,681,057 shares of the stock were exchanged, compared to its average volume of 5,411,144. The firm's 50-day simple moving average is $15.13 and its 200 day simple moving average is $15.85. The stock has a market capitalization of $9.65 billion, a price-to-earnings ratio of -3.12, a price-to-earnings-growth ratio of 69.54 and a beta of 0.39. Mobileye Global Inc. has a fifty-two week low of $10.48 and a fifty-two week high of $33.26.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.04 EPS for the quarter, missing the consensus estimate 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%. On average, analysts predict that Mobileye Global Inc. will post 0.01 EPS for the current fiscal year.

Analysts Set New Price Targets

MBLY has been the subject of several research analyst reports. The Goldman Sachs Group decreased their price target on shares of Mobileye Global from $20.00 to $17.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Piper Sandler raised their target price on shares of Mobileye Global from $16.00 to $17.00 and gave the stock a "neutral" rating in a report on Thursday, March 20th. Barclays reaffirmed an "equal weight" rating and issued a $14.00 price target (down previously from $22.00) on shares of Mobileye Global in a research note on Tuesday. Robert W. Baird dropped their price objective on shares of Mobileye Global from $25.00 to $17.00 and set an "outperform" rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. lowered their target price on Mobileye Global from $11.00 to $10.00 and set an "underweight" rating for the company in a report on Thursday. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $20.55.

Mobileye Global 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.