Mobileye Global: Still Priced For Perfection
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Update - June 5, 2023
Intel dumping shares should cap the stock in MobilEye following the irrational double top at $46.
-Mobileye Global (NASDAQ:MBLY) on Monday announced the commencement of a secondary stock offering of up to 35M of its class A shares by a unit of Intel (INTC).
-The Intel (INTC) unit selling the shares in the offering is Intel Overseas Funding Corporation.
Update May 25, 2023
The Wells Fargo analyst sounds really bullish, but the price target only offers 25% upside. The better bet is Luminar Tech. (LAZR) at these prices.
-Mobileye (NASDAQ:MBLY) shares rose more than 4% in pre-market trading on Thursday as Wells Fargo started coverage on the autonomous driving semiconductor company with an overweight rating.
-Analyst Aaron Rakers, who also put a per-share price target of $50 on Mobileye (MBLY), noted that the company is in the early stage of a "platform appreciation," helping automotive company get to the goal of fully autonomous vehicles over the next five to ten years.
-"We're positive on MBLY's strategy that SuperVision adoption / expansion will serve as the foundation for its consumer AV strategy," Rakers wrote in an investor note. Rakers sees Mobileye (MBLY) generating SuperVision revenue over the next five years to $3.2B and possibly as high as $7B.
Original article posted on Apr. 28
- Mobileye Global Inc. has to cut 2023 revenue targets due to a Chinese customer struggling to meet sales targets.
- The ADAS company has a massive backlog, but revenues are only forecast to grow around 10% this year.
- Even with the dip, Mobileye Global Inc. stock still trades at 14x lowered '23 sales targets.