Mobileye Global (NASDAQ:MBLY) Downgraded by Wolfe Research

Wolfe Research downgraded shares of Mobileye Global (NASDAQ:MBLY) from an outperform rating to a peer perform rating in a research report sent to investors on Thursday, Marketbeat.com reports.

MBLY has been the topic of a number of other research reports. BNP Paribas lowered shares of Mobileye Global from an outperform rating to a neutral rating and set a $17.00 price target on the stock. in a report on Monday, August 5th. Daiwa America lowered shares of Mobileye Global from a strong-buy rating to a hold rating in a report on Monday, August 5th. JPMorgan Chase & Co. lowered shares of Mobileye Global from an overweight rating to a neutral rating and decreased their price target for the company from $38.00 to $24.00 in a report on Wednesday, July 31st. HSBC initiated coverage on shares of Mobileye Global in a report on Monday, July 15th. They issued a buy rating and a $33.00 price target on the stock. Finally, Robert W. Baird decreased their price target on shares of Mobileye Global from $40.00 to $29.00 and set an outperform rating on the stock in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $31.60.

Mobileye Global Stock Performance

Shares of NASDAQ MBLY opened at $11.55 on Thursday. Mobileye Global has a 1 year low of $11.45 and a 1 year high of $44.48. The firm’s 50 day moving average price is $19.38 and its 200 day moving average price is $25.40. The firm has a market cap of $9.35 billion, a P/E ratio of -55.00 and a beta of 0.08.

Mobileye Global (NASDAQ:MBLY) last announced its earnings results on Thursday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Mobileye Global had a negative net margin of 12.14% and a positive return on equity of 1.32%. The firm had revenue of $439.00 million for the quarter, compared to analyst estimates of $424.34 million. During the same quarter last year, the business earned $0.11 earnings per share. Mobileye Global’s revenue was down 3.3% compared to the same quarter last year. As a group, equities analysts predict that Mobileye Global will post -0.07 EPS for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MBLY. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Mobileye Global by 344.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,929 shares of the company’s stock valued at $170,000 after buying an additional 3,045 shares during the period. Natixis Advisors L.P. boosted its holdings in shares of Mobileye Global by 11.4% in the 4th quarter. Natixis Advisors L.P. now owns 97,564 shares of the company’s stock valued at $4,226,000 after buying an additional 10,017 shares during the period. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Mobileye Global by 60.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,705 shares of the company’s stock valued at $117,000 after buying an additional 1,023 shares during the period. National Bank of Canada FI boosted its stake in Mobileye Global by 90.0% during the 4th quarter. National Bank of Canada FI now owns 1,425 shares of the company’s stock valued at $59,000 after purchasing an additional 675 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Mobileye Global by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 422,384 shares of the company’s stock valued at $18,298,000 after purchasing an additional 11,617 shares during the period. 13.25% of the stock is owned by institutional investors and hedge funds.

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.