8 Best Robotics Stocks Under $10

5. Arbe Robotics Ltd. (NASDAQ:ARBE)

Share Price as of June 11: $1.93

Number of Hedge Fund Holders: 4

Arbe Robotics Ltd. (NASDAQ:ARBE), a semiconductor company, specializes in 4D imaging radar solutions for Tier 1 automotive suppliers and manufacturers globally, including in China, Hong Kong, Sweden, Germany, the United States, and Israel. The company offers advanced radar chipset solutions that address critical issues in autonomous driving and autopilot systems, such as detecting stationary objects, identifying vulnerable road users, operating in poor lighting conditions, and eliminating false alarms. Founded in 2015, Arbe Robotics is headquartered in Tel Aviv-Yafo, Israel.

In an April 3 research note, Roth MKM analyst Suji Desilva discussed Arbe Robotics Ltd.’s (NASDAQ:ARBE) cutting-edge 4D imaging radar system, stating that “We believe that ARBE’s advanced 4D imaging radar can gain share in the existing multi-billion-dollar automotive radar market and grow in the diversifying non-automotive markets as well.” The analyst noted the company’s engagement with several potential customers interested in their 4D imaging radar technology for 2024, highlighting Arbe’s strong positioning for advanced radar opportunities across various markets and geographies. Arbe’s long-standing collaborations with prominent Chinese automotive part manufacturers are seen as advantageous, as these partnerships may lead to successful integration of high-quality radar technology in Chinese vehicles. Additionally, Desilva pointed out that Arbe Robotics Ltd.’s (NASDAQ:ARBE) “remains engaged with multiple global auto OEMs increasingly focusing on advanced ADAS platforms and models.” Consequently, Desilva maintained a “Buy” rating on the company and raised the price target from $2 to $4.

As of the end of the first quarter of 2024, 4 hedge funds tracked by Insider Monkey held stakes in Arbe Robotics Ltd. (NASDAQ:ARBE), with a combined value of $1.5 million, up from $1.24 million in the previous quarter.