BUZZ-Mobileye rises after Steve Cohen's Point72 reports 5% stake

Reuters
03-08
BUZZ-Mobileye rises after Steve Cohen's Point72 reports 5% stake

** Shares of autonomous driving tech firm Mobileye MBLY.O up 2.4% to $15.18 on Fri after hedge fund Point72 disclosed 5% passive stake

** Point72 Asset Management, founded by Steve Cohen, owns ~5.1 mln shares as of Mar 5, according to regulatory filing late Thurs

** In wide-ranging interview in late Jan, Cohen spoke about his recent decision to stop trading at the firm, and said artificial intelligence outlook is more positive after China's launch of DeepSeek

** Last month, ride-hailing firm Lyft LYFT.O said it plans to roll out robotaxis, powered by MBLY's tech "as soon as 2026"

** Israeli-based MBLY, majority owned by Intel INTC.O, in Jan forecasted annual rev below Wall Street analysts' expectations on persistent China weakness

** Despite move higher on the session, MBLY shares down ~24% YTD and have shed roughly half their value over the past 12 months

** Of 28 analysts covering the stock, recommendation breakdown is 15 "strong buy" or "buy", 11 "hold" and 2 "sell"; median PT of $19 unchanged from three months ago, per LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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