Primecap Management Co. CA Sells 163,404 Shares of Mobileye Global Inc. (NASDAQ:MBLY)

Primecap Management Co. CA cut its holdings in shares of Mobileye Global Inc. (NASDAQ:MBLY - Free Report) by 8.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,764,400 shares of the company's stock after selling 163,404 shares during the quarter. Primecap Management Co. CA owned approximately 0.22% of Mobileye Global worth $24,172,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rakuten Securities Inc. boosted its stake in Mobileye Global by 140.2% in the 3rd quarter. Rakuten Securities Inc. now owns 1,818 shares of the company's stock worth $25,000 after purchasing an additional 1,061 shares during the period. Cranbrook Wealth Management LLC purchased a new stake in shares of Mobileye Global in the 2nd quarter valued at $84,000. Quest Partners LLC bought a new position in shares of Mobileye Global during the third quarter valued at about $102,000. EverSource Wealth Advisors LLC boosted its holdings in Mobileye Global by 1,019.9% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,819 shares of the company's stock valued at $107,000 after acquiring an additional 3,478 shares during the period. Finally, Guinness Atkinson Asset Management Inc grew its position in Mobileye Global by 16.9% during the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 8,700 shares of the company's stock worth $119,000 after acquiring an additional 1,257 shares during the last quarter. Institutional investors own 13.25% of the company's stock.

Wall Street Analyst Weigh In

MBLY has been the topic of several analyst reports. Daiwa Capital Markets downgraded shares of Mobileye Global from a "buy" rating to a "neutral" rating in a research note on Monday, August 5th. Fox Advisors downgraded shares of Mobileye Global from an "overweight" rating to an "equal weight" rating in a research note on Thursday, August 1st. Loop Capital began coverage on Mobileye Global in a research note on Tuesday, November 12th. They issued a "buy" rating and a $20.00 target price on the stock. Robert W. Baird upped their price target on Mobileye Global from $17.00 to $18.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Finally, Wolfe Research lowered Mobileye Global from an "outperform" rating to a "peer perform" rating in a research report on Thursday, September 5th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Mobileye Global has a consensus rating of "Hold" and an average price target of $23.14.

Mobileye Global Stock Up 3.9 %

MBLY stock traded up $0.68 during mid-day trading on Friday, hitting $17.97. The company had a trading volume of 6,053,513 shares, compared to its average volume of 5,102,313. The company has a market capitalization of $14.57 billion, a price-to-earnings ratio of -4.92 and a beta of 0.07. The company has a 50-day moving average price of $13.89 and a 200 day moving average price of $19.41. Mobileye Global Inc. has a 12-month low of $10.48 and a 12-month high of $44.48.

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.