Mobileye Global (NASDAQ:MBLY) Lowered to “Hold” Rating by Wall Street Zen

Mobileye Global (NASDAQ:MBLY) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Sunday.

MBLY has been the subject of several other reports. UBS Group upped their price objective on shares of Mobileye Global from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, July 14th. Robert W. Baird decreased their price target on shares of Mobileye Global from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday, July 25th. Needham & Company LLC reissued a “buy” rating and issued a $18.00 price target on shares of Mobileye Global in a research note on Friday, July 25th. Wells Fargo & Company increased their price target on shares of Mobileye Global from $18.00 to $24.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 9th. Finally, Royal Bank Of Canada increased their price target on shares of Mobileye Global from $14.00 to $17.00 and gave the stock a “sector perform” rating in a research note on Tuesday, July 29th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $19.67.

Mobileye Global Stock Down 2.7%

NASDAQ MBLY opened at $13.60 on Friday. The company has a 50-day simple moving average of $16.17 and a two-hundred day simple moving average of $15.62. Mobileye Global has a 12-month low of $10.48 and a 12-month high of $22.51. The firm has a market cap of $11.09 billion, a price-to-earnings ratio of -3.73, a PEG ratio of 8.91 and a beta of 0.52.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.02. The business had revenue of $506.00 million during the quarter, compared to analyst estimates of $466.42 million. Mobileye Global had a negative net margin of 153.91% and a positive return on equity of 0.73%. The company’s revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.09 earnings per share. Equities analysts expect that Mobileye Global will post 0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Mobileye Global news, major shareholder Corp Intel sold 63,731,985 shares of the stock in a transaction on Friday, July 11th. The shares were sold at an average price of $16.05, for a total transaction of $1,022,898,359.25. Following the transaction, the insider directly owned 50,000,000 shares of the company’s stock, valued at $802,500,000. This trade represents a 56.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Boaz Ouriel sold 67,493 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $16.09, for a total transaction of $1,085,962.37. Following the transaction, the executive vice president directly owned 107,853 shares in the company, valued at approximately $1,735,354.77. The trade was a 38.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.

Institutional Investors Weigh In On Mobileye Global

Several hedge funds and other institutional investors have recently bought and sold shares of MBLY. Dimensional Fund Advisors LP acquired a new stake in Mobileye Global during the fourth quarter worth about $27,155,000. Light Street Capital Management LLC acquired a new stake in shares of Mobileye Global during the fourth quarter valued at about $15,276,000. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Mobileye Global by 433.7% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 891,779 shares of the company’s stock valued at $12,837,000 after acquiring an additional 724,695 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Mobileye Global during the fourth quarter valued at about $13,897,000. Finally, The Manufacturers Life Insurance Company increased its position in shares of Mobileye Global by 4.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 14,211,880 shares of the company’s stock valued at $283,101,000 after acquiring an additional 621,062 shares during the last quarter. 13.25% of the stock is currently owned by institutional investors and hedge funds.

Mobileye Global Company Profile

Mobileye Global Inc develops and deploys advanced driver assistance systems (ADAS) and autonomous driving technologies and solutions worldwide. The company operates through Mobileye and Other segments. It offers Driver Assist comprising ADAS and autonomous vehicle solutions that covers safety features, such as real-time detection of road users, geometry, semantics, and markings to provide safety alerts and emergency interventions; Cloud-Enhanced Driver Assist, a solution for drivers with interpretations of a scene in real-time; Mobileye SuperVision Lite, a navigation and assisted driving solution; and Mobileye SuperVision, an operational point-to-point assisted driving navigation solution on various road types and includes cloud-based enhancements, such as road experience management.