The Manufacturers Life Insurance Company Grows Stake in Mobileye Global Inc. (NASDAQ:MBLY)

The Manufacturers Life Insurance Company grew its holdings in shares of Mobileye Global Inc. (NASDAQ:MBLY) by 49.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,590,818 shares of the company’s stock after purchasing an additional 4,517,217 shares during the period. The Manufacturers Life Insurance Company’s holdings in Mobileye Global were worth $186,194,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MBLY. Rakuten Securities Inc. increased its position in Mobileye Global by 140.2% during the 3rd quarter. Rakuten Securities Inc. now owns 1,818 shares of the company’s stock valued at $25,000 after buying an additional 1,061 shares in the last quarter. Cranbrook Wealth Management LLC purchased a new stake in shares of Mobileye Global during the second quarter worth about $84,000. Quest Partners LLC acquired a new position in shares of Mobileye Global during the third quarter valued at about $102,000. EverSource Wealth Advisors LLC raised its position in shares of Mobileye Global by 1,019.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,819 shares of the company’s stock valued at $107,000 after purchasing an additional 3,478 shares during the last quarter. Finally, Guinness Atkinson Asset Management Inc boosted its stake in Mobileye Global by 16.9% in the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 8,700 shares of the company’s stock worth $119,000 after purchasing an additional 1,257 shares in the last quarter. Institutional investors and hedge funds own 13.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on MBLY shares. Westpark Capital restated a “hold” rating on shares of Mobileye Global in a research note on Wednesday, July 31st. Needham & Company LLC dropped their price objective on shares of Mobileye Global from $25.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Mizuho raised their target price on Mobileye Global from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, November 18th. Daiwa Capital Markets downgraded Mobileye Global from a “buy” rating to a “neutral” rating in a research note on Monday, August 5th. Finally, Barclays reduced their price objective on Mobileye Global from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $23.14.

Mobileye Global Trading Down 3.1 %

Shares of MBLY opened at $17.92 on Wednesday. Mobileye Global Inc. has a 1 year low of $10.48 and a 1 year high of $44.48. The stock has a 50-day simple moving average of $14.03 and a 200-day simple moving average of $19.21.

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.