Investors may want to pay close attention to Mobileye Global (MBLY), we noted on October 26. At the time, the stock traded at $29.39 a share.
Also, around that time, Intel CEO Pat Gelsinger was buying heavily at the time. In fact, on October 28, he picked up 120,000 shares for $2.5 million. On October 28, MBLY CEO and President Amnon Shashua bought 476,190 shares; Director Christine Pambianchi bought 70,000 shares; Director Director Frank Yeary bought 27,500 shares; Director Claire McCaskill bought 41,000 shares; and Director Eyal Desheh bought 10,000 shares.
Today, the stock is up to $41.80 and could see higher highs.
Helping, Barclays’ analysts are bullish. As noted by the firm, ““We believe MBLY is the highest-quality pure-play in the market leveraged to the secular megatrends of active safety/autonomous vehicles, which should drive robust earnings growth through at least the end of the decade. Moreover, we remain constructive on the catalyst backdrop this year, including continued positive momentum in SuperVision awards and potential for MBLY to exceed its FY23 guidance,” as quoted by TipRanks.com.