** Shares of autonomous driving tech co Mobileye MBLY.O down 3.3% to $16.75 premarket after secondary offering by chipmaker Intel INTC.O priced

** Israeli-based MBLY late Weds announced 50 mln Class A shares sold by Intel Overseas Funding Corp at $16.50, 4.7% discount to last sale

** Co also to concurrently repurchase ~6.2 mln shares from INTC

** MBLY shares on Weds fell 7.1% to $17.32 after co commenced 45 mln share offering and said it would repurchase $100 mln worth of shares from INTC

** Goldman Sachs and BofA are jt lead bookrunners for the offering

** It was expected that following the transactions INTC would beneficially own ~82% of MBLY and have approx 98% of voting power, per the prospectus

** INTC last offloaded MBLY shares in Jun 2023 secondary offering priced at $42, after taking co public in Oct 2022 IPO at $21

** Through Weds close, MBLY shares down 13% YTD

** Avg rating among 27 analysts covering MBLY is "buy" and median PT is $18 - LSEG data

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

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