Mobileye Global (NASDAQ:MBLY) Cut to Neutral at UBS Group

UBS Group lowered shares of Mobileye Global (NASDAQ:MBLY) from a buy rating to a neutral rating in a research report sent to investors on Friday, Marketbeat reports. They currently have $14.00 target price on the stock, down from their previous target price of $20.00.

MBLY has been the topic of a number of other reports. Needham & Company LLC decreased their target price on Mobileye Global from $36.00 to $25.00 and set a buy rating on the stock in a report on Friday, August 2nd. Wolfe Research cut Mobileye Global from an outperform rating to a peer perform rating in a research report on Thursday, September 5th. Daiwa Capital Markets cut Mobileye Global from a buy rating to a neutral rating in a research report on Monday, August 5th. Hsbc Global Res raised Mobileye Global to a strong-buy rating in a research report on Monday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reissued a hold rating and set a $15.00 price objective on shares of Mobileye Global in a research report on Tuesday, September 10th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $28.10.

Mobileye Global Price Performance

Shares of Mobileye Global stock opened at $12.33 on Friday. Mobileye Global has a 1-year low of $10.48 and a 1-year high of $44.48. The company has a market capitalization of $9.98 billion, a P/E ratio of -58.71 and a beta of 0.08. The business’s fifty day moving average price is $13.82 and its two-hundred day moving average price is $23.20.

Mobileye Global (NASDAQ:MBLY) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. The company had revenue of $439.00 million for the quarter, compared to analysts’ expectations of $424.34 million. Mobileye Global had a positive return on equity of 1.32% and a negative net margin of 12.14%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period last year, the firm earned $0.11 EPS. On average, research analysts expect that Mobileye Global will post -0.06 earnings per share for the current fiscal year.

Insider Transactions at Mobileye Global

In other Mobileye Global news, Director Patrick P. Gelsinger acquired 6,400 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $15.48 per share, for a total transaction of $99,072.00. Following the completion of the purchase, the director now owns 139,106 shares of the company’s stock, valued at approximately $2,153,360.88. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Amnon Shashua purchased 631,963 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average cost of $16.51 per share, for a total transaction of $10,433,709.13. Following the completion of the purchase, the chief executive officer now directly owns 4,080,097 shares of the company’s stock, valued at approximately $67,362,401.47. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Patrick P. Gelsinger acquired 6,400 shares of the stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $15.48 per share, for a total transaction of $99,072.00. Following the completion of the purchase, the director now owns 139,106 shares in the company, valued at approximately $2,153,360.88. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mobileye Global

Several large investors have recently modified their holdings of MBLY. Bank of Nova Scotia bought a new stake in shares of Mobileye Global in the 4th quarter valued at approximately $402,000. Wellington Management Group LLP boosted its holdings in shares of Mobileye Global by 200.3% in the 4th quarter. Wellington Management Group LLP now owns 3,398,211 shares of the company’s stock worth $147,210,000 after acquiring an additional 2,266,438 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Mobileye Global by 64.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,736 shares of the company’s stock worth $162,000 after acquiring an additional 1,470 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of Mobileye Global in the 4th quarter worth approximately $77,000. Finally, S. R. Schill & Associates lifted its holdings in Mobileye Global by 20.2% during the 1st quarter. S. R. Schill & Associates now owns 12,688 shares of the company’s stock worth $408,000 after buying an additional 2,135 shares in the last quarter. 13.25% of the stock is currently 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.