Mobileye Global (NASDAQ:MBLY) Cut to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Mobileye Global (NASDAQ:MBLY) from an overweight rating to a neutral rating in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has $24.00 price objective on the stock, down from their previous price objective of $38.00.

MBLY has been the subject of several other research reports. The Goldman Sachs Group reduced their price objective on shares of Mobileye Global from $40.00 to $32.00 and set a buy rating for the company in a research report on Wednesday, July 10th. Needham & Company LLC restated a buy rating and set a $36.00 price target on shares of Mobileye Global in a research note on Friday, April 26th. Barclays reduced their price objective on shares of Mobileye Global from $43.00 to $40.00 and set an overweight rating for the company in a report on Tuesday, July 16th. Citigroup decreased their price objective on Mobileye Global from $58.00 to $53.00 and set a buy rating for the company in a report on Monday, April 29th. Finally, Piper Sandler lifted their target price on Mobileye Global from $31.00 to $32.00 and gave the company a neutral rating in a research report on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $34.50.

Mobileye Global Price Performance

Shares of NASDAQ:MBLY opened at $15.96 on Wednesday. Mobileye Global has a 1 year low of $15.21 and a 1 year high of $44.48. The business’s 50-day moving average is $25.91 and its 200-day moving average is $27.63.

Hedge Funds Weigh In On Mobileye Global

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Mobileye Global by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 1,104,828 shares of the company’s stock valued at $45,906,000 after buying an additional 23,342 shares during the last quarter. Venturi Wealth Management LLC boosted its position in Mobileye Global by 33.3% during the fourth quarter. Venturi Wealth Management LLC now owns 1,600 shares of the company’s stock worth $69,000 after purchasing an additional 400 shares during the period. International Assets Investment Management LLC increased its stake in shares of Mobileye Global by 163.7% in the fourth quarter. International Assets Investment Management LLC now owns 2,816 shares of the company’s stock worth $122,000 after purchasing an additional 1,748 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Mobileye Global by 5.4% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 1,392,387 shares of the company’s stock valued at $61,042,000 after purchasing an additional 71,000 shares during the period. Finally, Birch Hill Investment Advisors LLC purchased a new stake in shares of Mobileye Global during the 4th quarter valued at approximately $19,017,000. 13.25% of the stock is owned by institutional investors.

About Mobileye Global

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.