Mobileye Global (NASDAQ:MBLY) Downgraded by Zacks Research to Hold

Zacks Research cut shares of Mobileye Global (NASDAQ:MBLY) from a strong-buy rating to a hold rating in a report released on Tuesday morning,Zacks reports.

A number of other research analysts also recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and set a $13.00 target price on shares of Mobileye Global in a report on Friday, July 24th. Canaccord Genuity Group dropped their price target on Mobileye Global from $17.00 to $12.00 and set a “buy” rating on the stock in a research report on Friday, July 24th. Piper Sandler upgraded Mobileye Global from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $10.00 to $12.00 in a research report on Monday, July 27th. JPMorgan Chase & Co. reduced their price target on Mobileye Global from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, July 24th. Finally, TD Cowen decreased their price objective on Mobileye Global from $9.00 to $8.00 and set a “buy” rating for the company in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $11.08.

Mobileye Global Trading Down 3.8%

NASDAQ:MBLY opened at $7.02 on Tuesday. The company has a 50-day moving average price of $8.00 and a 200-day moving average price of $8.60. The stock has a market cap of $5.90 billion, a price-to-earnings ratio of -1.41, a P/E/G ratio of 2.36 and a beta of 1.25. Mobileye Global has a 12 month low of $6.47 and a 12 month high of $14.91.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.13. Mobileye Global had a negative net margin of 201.49% and a positive return on equity of 0.70%. The company had revenue of $508.00 million for the quarter, compared to analysts’ expectations of $480.51 million. During the same quarter in the previous year, the company earned ($0.08) earnings per share. Mobileye Global’s quarterly revenue was up .4% on a year-over-year basis. Equities analysts forecast that Mobileye Global will post 0.11 EPS for the current fiscal year.

Insider Buying and Selling

In other Mobileye Global news, Director Frank Yeary bought 12,360 shares of the firm’s stock in a transaction on Thursday, July 30th. The stock was acquired at an average price of $7.98 per share, with a total value of $98,632.80. Following the completion of the purchase, the director owned 12,360 shares of the company’s stock, valued at approximately $98,632.80. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Safroadu Yeboah-Amankwah bought 11,841 shares of the stock in a transaction dated Thursday, August 6th. The shares were acquired at an average price of $8.46 per share, with a total value of $100,174.86. Following the completion of the acquisition, the director directly owned 84,336 shares of the company’s stock, valued at approximately $713,482.56. The trade was a 16.33% increase in their position. The SEC filing for this purchase provides additional information. 10.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. bought a new stake in Mobileye Global in the second quarter worth $23,423,000. Counterpoint Mutual Funds LLC bought a new position in shares of Mobileye Global during the third quarter valued at $9,074,000. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Mobileye Global by 24.5% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,585,733 shares of the company’s stock worth $24,634,000 after purchasing an additional 705,400 shares during the last quarter. First Trust Advisors LP raised its position in shares of Mobileye Global by 27.7% in the 1st quarter. First Trust Advisors LP now owns 1,152,499 shares of the company’s stock worth $7,918,000 after purchasing an additional 249,921 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its stake in Mobileye Global by 977.4% in the 1st quarter. Y Intercept Hong Kong Ltd now owns 218,016 shares of the company’s stock worth $1,498,000 after purchasing an additional 197,781 shares in the last quarter. Hedge funds and other institutional investors own 13.25% of the company’s stock.

Mobileye Global Company Profile

Mobileye Global Inc (NASDAQ:MBLY) develops advanced driver-assistance systems and autonomous driving technologies for vehicle manufacturers worldwide. Founded in 1999 and headquartered in Jerusalem, Israel, the company provides computer-vision and artificial-intelligence solutions designed to improve vehicle safety and support automated driving.

Its product portfolio includes EyeQ system-on-chips, camera-based driver-assistance features, and software for functions such as automatic emergency braking, lane-keeping assistance, adaptive cruise control, and traffic-sign recognition.