MBLY - RBC Lowers Price Target For Mobileye Global (MBLY) Amid Investor Class Action – Hagens Berman | Benzinga

SAN FRANCISCO, Feb. 02, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges Mobileye Global Inc. (NASDAQ:MBLY) investors who suffered substantial losses to submit your losses now.

Class Period: Jan. 26, 2023 – Jan. 3, 2024
Lead Plaintiff Deadline: Mar. 18, 2024
Visit: www.hbsslaw.com/investor-fraud/mbly
Contact An Attorney Now: MBLY@hbsslaw.com
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Mobileye Global Inc. (MBLY) Securities Fraud Class Action:

Securities analysts at RBC lowered its estimates for Mobileye's 2024 Advanced Driver-Assistance System (ADAS) revenues by 36% and cut its price target for MBLY from $54 to $45.

The dim projections stem from the Company's Jan. 4, 2024 disclosure that Mobileye had "become aware" of a build-up of excess inventory including an estimated 6-7 million units of EyeQ SoCs held by customers. Mobileye attributed this result to "supply chain constraints in 2021 and 2022 and a desire to avoid part shortages" and "lower than-expected production at certain OEM's during ...

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