Mobileye Global (NASDAQ:MBLY) Stock Rating Lowered by Mizuho

Mobileye Global (NASDAQ:MBLY) was downgraded by research analysts at Mizuho from an “outperform” rating to a “neutral” rating in a note issued to investors on Friday, MarketBeat.com reports. They presently have a $13.00 price target on the stock, down from their prior price target of $30.00. Mizuho’s price objective would suggest a potential upside of 0.85% from the stock’s current price.

A number of other brokerages have also recently issued reports on MBLY. Daiwa America cut shares of Mobileye Global from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 5th. Fox Advisors lowered shares of Mobileye Global from an “overweight” rating to an “equal weight” rating in a report on Thursday, August 1st. Westpark Capital restated a “hold” rating on shares of Mobileye Global in a research note on Wednesday, July 31st. The Goldman Sachs Group reduced their price objective on Mobileye Global from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Finally, Wolfe Research downgraded Mobileye Global from an “outperform” rating to a “peer perform” rating in a report on Thursday, September 5th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $26.85.

Mobileye Global Stock Performance

Mobileye Global stock opened at $12.89 on Friday. Mobileye Global has a fifty-two week low of $10.48 and a fifty-two week high of $44.48. The stock’s 50 day simple moving average is $13.35 and its two-hundred day simple moving average is $22.73. The stock has a market cap of $10.43 billion, a price-to-earnings ratio of -61.38 and a beta of 0.08.

Mobileye Global (NASDAQ:MBLY) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.09 earnings per share for the quarter, topping 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 in the prior year, the firm earned $0.11 earnings per share. On average, analysts predict that Mobileye Global will post -0.06 earnings per share for the current year.

Insiders Place Their Bets

In other Mobileye Global news, Director Patrick P. Gelsinger purchased 6,400 shares of Mobileye Global stock in a transaction dated Monday, August 5th. The stock was purchased at an average price of $15.48 per share, with a total value of $99,072.00. Following the transaction, the director now directly owns 139,106 shares of the company’s stock, valued at $2,153,360.88. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Amnon Shashua acquired 631,963 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were purchased at an average price of $16.51 per share, with a total value 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 $67,362,401.47. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Patrick P. Gelsinger acquired 6,400 shares of the stock in a transaction dated Monday, August 5th. The shares were bought at an average cost of $15.48 per share, for a total transaction of $99,072.00. Following the completion of the transaction, the director now owns 139,106 shares in the company, valued at approximately $2,153,360.88. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Mobileye Global

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MBLY. Baillie Gifford & Co. boosted its position in shares of Mobileye Global by 89.8% in the first quarter. Baillie Gifford & Co. now owns 15,985,212 shares of the company’s stock worth $513,925,000 after purchasing an additional 7,560,929 shares during the period. The Manufacturers Life Insurance Company increased its stake in Mobileye Global by 807.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,073,601 shares of the company’s stock worth $254,832,000 after buying an additional 8,073,552 shares in the last quarter. Wellington Management Group LLP raised its holdings in Mobileye Global by 200.3% during the fourth quarter. Wellington Management Group LLP now owns 3,398,211 shares of the company’s stock valued at $147,210,000 after acquiring an additional 2,266,438 shares during the period. DAVENPORT & Co LLC boosted its stake in shares of Mobileye Global by 20.9% in the first quarter. DAVENPORT & Co LLC now owns 2,364,377 shares of the company’s stock worth $76,519,000 after acquiring an additional 408,038 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Mobileye Global by 4.2% during the second quarter. Bank of New York Mellon Corp now owns 2,347,269 shares of the company’s stock worth $65,923,000 after purchasing an additional 94,946 shares in the last quarter. Institutional investors own 13.25% of the company’s stock.

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.