Mobileye Global Inc. (NASDAQ:MBLY) Given Average Recommendation of "Hold" by Analysts

Key Points

• Mobileye Global Inc. has received an average analyst recommendation of "Hold", with one sell rating, nine holds, and nine buy ratings among the nineteen analysts covering the stock.
• The company reported $0.13 earnings per share (EPS) for the last quarter, surpassing analysts' expectations of $0.11, and achieved quarterly revenue of $506 million, up by 15.3% from the previous year.
• Intel, a major shareholder, sold over 63 million shares of Mobileye Global stock, resulting in a 56% decrease in their ownership position within the company.

Shares of Mobileye Global Inc. (NASDAQ:MBLY - Get Free Report) have earned an average recommendation of "Hold" from the nineteen analysts that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $19.6667.

A number of research analysts have recently weighed in on the stock. Robert W. Baird dropped their price objective on shares of Mobileye Global from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Friday, July 25th. The Goldman Sachs Group cut shares of Mobileye Global from a "buy" rating to a "neutral" rating and set a $17.00 price objective for the company. in a research note on Monday, June 9th. Canaccord Genuity Group raised their price objective on shares of Mobileye Global from $25.00 to $30.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Mizuho dropped their price objective on shares of Mobileye Global from $18.00 to $17.00 and set a "neutral" rating for the company in a research note on Friday, July 25th. Finally, TD Cowen dropped their price objective on shares of Mobileye Global from $22.00 to $20.00 and set a "buy" rating for the company in a research note on Friday, July 25th.

Mobileye Global Trading Up 0.4%

Shares of Mobileye Global stock opened at $14.01 on Friday. Mobileye Global has a 12-month low of $10.48 and a 12-month high of $22.51. The stock has a market cap of $11.42 billion, a PE ratio of -3.84, a price-to-earnings-growth ratio of 9.18 and a beta of 0.52. The company has a 50-day moving average of $15.91 and a two-hundred day moving average of $15.53.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last issued its earnings results on Thursday, July 24th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.02. Mobileye Global had a negative net margin of 153.91% and a positive return on equity of 0.73%. The company had revenue of $506.00 million during the quarter, compared to analysts' expectations of $466.42 million. During the same period last year, the company posted $0.09 earnings per share. The firm's quarterly revenue was up 15.3% compared to the same quarter last year. On average, sell-side analysts forecast that Mobileye Global will post 0.01 EPS for the current fiscal year.

Insider Transactions at Mobileye Global

In other Mobileye Global news, major shareholder Corp Intel sold 63,731,985 shares of Mobileye Global stock in a transaction on Friday, July 11th. The shares were sold at an average price of $16.05, for a total value of $1,022,898,359.25. Following the transaction, the insider owned 50,000,000 shares in the company, valued at $802,500,000. This trade represents a 56.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.80% of the company's stock.

Institutional Trading of Mobileye Global

Several institutional investors have recently made changes to their positions in the stock. Mystic Asset Management Inc. grew its stake in shares of Mobileye Global by 3.6% during the 1st quarter. Mystic Asset Management Inc. now owns 20,175 shares of the company's stock valued at $290,000 after buying an additional 700 shares during the period. Perigon Wealth Management LLC lifted its holdings in shares of Mobileye Global by 4.6% during the 1st quarter. Perigon Wealth Management LLC now owns 20,892 shares of the company's stock valued at $301,000 after acquiring an additional 914 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Mobileye Global by 2.5% during the 2nd quarter. Sei Investments Co. now owns 45,080 shares of the company's stock valued at $811,000 after acquiring an additional 1,090 shares in the last quarter. Creative Planning lifted its holdings in shares of Mobileye Global by 10.2% during the 2nd quarter. Creative Planning now owns 18,316 shares of the company's stock valued at $329,000 after acquiring an additional 1,693 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of Mobileye Global during the 2nd quarter valued at $31,000. 13.25% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.