Mobileye Global (NASDAQ:MBLY) Rating Lowered to Underweight at Morgan Stanley

Morgan Stanley lowered shares of Mobileye Global (NASDAQ:MBLY) from an equal weight rating to an underweight rating in a research note released on Friday morning, Marketbeat Ratings reports. Morgan Stanley currently has $25.00 price objective on the stock, down from their prior price objective of $26.00.

Several other analysts also recently weighed in on the stock. Wolfe Research upgraded shares of Mobileye Global from a peer perform rating to an outperform rating and set a $41.00 price objective for the company in a research report on Friday, April 12th. Needham & Company LLC reduced their price objective on shares of Mobileye Global from $43.00 to $36.00 and set a buy rating for the company in a research report on Friday, January 5th. JPMorgan Chase & Co. boosted their price objective on shares of Mobileye Global from $34.00 to $38.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. Mizuho reduced their price objective on shares of Mobileye Global from $42.00 to $38.00 and set a buy rating for the company in a research report on Friday, January 26th. Finally, Robert W. Baird cut their target price on shares of Mobileye Global from $43.00 to $42.00 and set an outperform rating on the stock in a report on Friday, January 26th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and fifteen have given a 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 target price of $41.70.

Mobileye Global Price Performance

Shares of MBLY opened at $29.20 on Friday. The firm has a 50-day simple moving average of $29.23 and a two-hundred day simple moving average of $33.40. Mobileye Global has a 1-year low of $23.49 and a 1-year high of $47.41. The stock has a market cap of $23.54 billion, a PE ratio of -139.04, a P/E/G ratio of 14.36 and a beta of -0.21.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings data on Thursday, January 25th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. Mobileye Global had a negative net margin of 8.92% and a positive return on equity of 1.75%. The business had revenue of $637.00 million during the quarter, compared to analyst estimates of $637.53 million. During the same quarter last year, the firm posted $0.27 earnings per share. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, sell-side analysts expect that Mobileye Global will post 0.14 earnings per share for the current fiscal year.

Insider Transactions at Mobileye Global

In related news, Director Patrick P. Gelsinger purchased 3,600 shares of the stock in a transaction dated Monday, January 29th. The shares were acquired at an average cost of $27.75 per share, with a total value of $99,900.00. Following the purchase, the director now directly owns 129,095 shares in the company, valued at approximately $3,582,386.25. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Mobileye Global

Several institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Mobileye Global in the 4th quarter worth about $437,842,000. Kodai Capital Management LP purchased a new stake in shares of Mobileye Global in the 4th quarter worth about $148,924,000. Wellington Management Group LLP boosted its position 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 buying an additional 2,266,438 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Mobileye Global by 25.8% in the 4th quarter. Franklin Resources Inc. now owns 2,622,704 shares of the company’s stock worth $113,616,000 after buying an additional 538,371 shares in the last quarter. Finally, DAVENPORT & Co LLC boosted its position in shares of Mobileye Global by 2.0% in the 4th quarter. DAVENPORT & Co LLC now owns 1,956,339 shares of the company’s stock worth $85,109,000 after buying an additional 38,667 shares in the last quarter. 13.25% of the stock is currently owned by hedge funds and other institutional investors.

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.