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Mobileye Stock Retains $35 Target Despite VW Brand Exclusion

2024-03-21 17:27:17.952000

Fmr LLC, a hedge fund, has sold 144,265 shares of Mobileye Global Inc. (NASDAQ:MBLY), reducing its stake by 13.0% during the 3rd quarter. Fmr LLC now owns 962,544 shares of the company's stock, worth $39,994,000. Other hedge funds have also bought and sold shares of Mobileye Global. Analysts have set new price targets for the stock, with a consensus rating of 'Moderate Buy' and a consensus price target of $45.10. Mobileye Global's stock opened at $27.05 on Friday, with a market capitalization of $21.79 billion. The company reported $0.28 earnings per share for the last quarter, beating analysts' estimates of $0.27. Insider buying has also occurred, with Director Patrick P. Gelsinger purchasing 3,600 shares of the stock. Mobileye Global engages in the development and deployment of advanced driver assistance systems (ADAS) and autonomous driving technologies and solutions worldwide.

Hodges Capital Management Inc. has sold 209,919 shares of Kimball Electronics, Inc. (NASDAQ:KE), reducing its holdings by 39.4% in the third quarter. The institutional investor now owns 322,832 shares of the electronics maker's stock, making it the 29th largest holding in its portfolio. Other institutional investors and hedge funds have also made changes to their positions in KE. Analyst reports on KE have been mixed, with B. Riley lowering its price target from $39.00 to $34.00 and Cantor Fitzgerald lowering its price target from $33.00 to $28.00. KE's stock is currently trading at $22.30, with a market capitalization of $554.60 million. The company reported earnings per share of $0.33 for the last quarter, missing the consensus estimate of $0.37. KE is engaged in providing electronics manufacturing, engineering, and supply chain support services to customers in various end markets.

Investing.com maintains its Overweight rating on Mobileye N.V. with a stock price target of $35.00 despite the exclusion of Volkswagen's mainstream brands from Mobileye's technological adoption. The recent agreement with Volkswagen includes 18 models across luxury brands such as Audi, Bentley, Lamborghini, and Porsche, representing approximately 25% of VW's total sales. Wells Fargo's analysis suggests that the deal could result in sales of approximately 210,000 units by 2026. However, investors may have expected the inclusion of VW's mainstream brands in the deal. The majority of the models adopting Mobileye's technology will have internal combustion engine powertrains, highlighting the technology's reach across different vehicle types within the VW group's portfolio. [761c5cbb]

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