Norges Bank Investment Management recently announced the acquisition of new stake in Mobileye Global Inc (NASDAQ:MBLY). The institutional investor has increased its shareholding in the Consumer Cyclical company by 0.31% to 12.12 million shares with purchase of 38057.0 shares. This fresh investment now brings its stake to 12.81% valued currently at $525.21 million. In addition, T. Rowe Price Investment Manageme raised its holdings by 1.01 million to 8.11 million shares. And Millennium Management LLC has lifted its position by 98.99% or 2.92 million shares – to 5.88 million shares.
Currently, there are 805.66M common shares owned by the public and among those 88.51M shares have been available to trade.
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Insiders at the company have transacted a total of 11 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 10 of these insider trades were purchases, accounting for 39,243,361 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 38,500,000 shares.
The top 3 mutual fund holders in Mobileye Global Inc are Government Pension Fund – Global, Vanguard International Growth Fun, and T Rowe Price Capital Appreciation. Government Pension Fund – Global owns 12.07 million shares of the company’s stock, all valued at over $522.74 million. The company bought an additional 12.07 million shares recently to bring their total holdings to about 12.75% of the shares outstanding. Vanguard International Growth Fun bought 1.44 million shares to see its total holdings expand to 5.23 million shares valued at over $226.46 million and representing 5.52% of the shares outstanding. T Rowe Price Capital Appreciation now owns shares totaling to 4.84% of the shares outstanding.
The company’s stock has a 5-day price change of -3.95% and -23.81% over the past three months. MBLY shares are trading -35.94% year to date (YTD), with the 12-month market performance down to -22.85% lower. It has a 12-month low price of $27.29 and touched a high of $48.11 over the same period. MBLY has an average intraday trading volume of 3.81 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -13.22%, -26.45%, and -28.13% respectively.
Institutional ownership of Mobileye Global Inc (NASDAQ: MBLY) shares accounts for 13.31% of the company’s 805.66M shares outstanding. Mutual fund holders own 45.48%, while other institutional holders and individual stakeholders account for 68.25% and 0.85% respectively.
It has a market capitalization of $22.36B and a beta (3y monthly) value of -0.44. The earnings-per-share (ttm) stands at -$0.07. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.64% over the week and 5.01% over the month.
Analysts forecast that Mobileye Global Inc (MBLY) will achieve an EPS of -$0.06 for the current quarter, $0.08 for the next quarter and $0.85 for 2025. The lowest estimate earnings-per-share for the quarter is -$0.09 while analysts give the company a high EPS estimate of -$0.04. Comparatively, EPS for the current quarter was $0.14 a year ago. Earnings per share for the fiscal year are expected to decrease by -53.12%, and 106.16% over the next financial year. EPS should shrink at an annualized rate of 7.05% over the next five years, compared to 46.60% over the past 5-year period.
Looking at the support for the MBLY, a number of firms have released research notes about the stock. TD Cowen stated their Outperform rating for the stock in a research note on January 26, 2024, with the firm’s price target at $38-$35.
