Mobileye Global (NASDAQ:MBLY) Stock Rating Lowered by Zacks Research

Mobileye Global (NASDAQ:MBLY) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

MBLY has been the subject of a number of other research reports. Weiss Ratings upgraded Mobileye Global from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, July 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $13.00 price objective on shares of Mobileye Global in a research report on Friday, July 24th. Piper Sandler upgraded Mobileye Global from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $10.00 to $12.00 in a report on Monday, July 27th. Tigress Financial dropped their target price on Mobileye Global from $25.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Finally, The Goldman Sachs Group upped their price target on Mobileye Global from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $12.65.

Mobileye Global Stock Performance

NASDAQ MBLY opened at $9.10 on Tuesday. The business has a 50 day simple moving average of $8.84 and a 200 day simple moving average of $8.72. Mobileye Global has a 52-week low of $6.47 and a 52-week high of $15.81. The stock has a market cap of $7.64 billion, a price-to-earnings ratio of -1.82, a PEG ratio of 3.03 and a beta of 1.20.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $508.00 million for the quarter, compared to analyst estimates of $480.51 million. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. The business’s revenue was up .4% on a year-over-year basis. On average, analysts predict that Mobileye Global will post 0.11 EPS for the current year.

Mobileye Global declared that its Board of Directors has approved a stock repurchase plan on Thursday, April 23rd that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to purchase up to 3.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity at Mobileye Global

In related news, Director Frank D. Yeary purchased 12,360 shares of the stock in a transaction on Thursday, July 30th. The shares were purchased at an average price of $7.98 per share, with a total value of $98,632.80. Following the transaction, the director directly owned 12,360 shares of the company’s stock, valued at $98,632.80. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Safroadu Yeboah-Amankwah acquired 11,841 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were bought at an average price of $8.46 per share, for a total transaction of $100,174.86. Following the purchase, the director owned 84,336 shares in the company, valued at approximately $713,482.56. This represents a 16.33% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 10.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Mobileye Global

A number of institutional investors and hedge funds have recently modified their holdings of the company. BCGM Wealth Management LLC lifted its stake in Mobileye Global by 56.7% in the 1st quarter. BCGM Wealth Management LLC now owns 368,763 shares of the company’s stock valued at $2,533,000 after purchasing an additional 133,471 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in Mobileye Global by 24.5% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,585,733 shares of the company’s stock worth $24,634,000 after buying an additional 705,400 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Mobileye Global in the second quarter valued at approximately $23,423,000. Y Intercept Hong Kong Ltd boosted its stake in shares of Mobileye Global by 977.4% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 218,016 shares of the company’s stock worth $1,498,000 after acquiring an additional 197,781 shares during the period. Finally, Engineers Gate Manager LP boosted its stake in shares of Mobileye Global by 140.9% during the 4th quarter. Engineers Gate Manager LP now owns 3,577,407 shares of the company’s stock worth $37,348,000 after acquiring an additional 2,092,250 shares during the period. 13.25% of the stock is owned by institutional investors.

About Mobileye Global

Mobileye Global Inc (NASDAQ: MBLY) is a leader in the development of advanced driver-assistance systems (ADAS) and autonomous driving technologies. Headquartered in Jerusalem, Israel, the company designs and supplies computer vision-based solutions that enable vehicles to detect and respond to road conditions, obstacles and signage. Mobileye’s core offering centers on its proprietary EyeQ system-on-a-chip (SoC) family, which processes video streams from automotive cameras to deliver features such as lane-keeping assist, adaptive cruise control, collision prevention and traffic sign recognition.

Founded in 1999 by Prof.