Mobileye Global's (MBLY) Buy Rating Reiterated at Needham & Company LLC

Key Points

• Mobileye Global has been rated as a "buy" by Needham & Company LLC, with a target price of $18.00, indicating a potential upside of 16.73% from its current price.
• Recent stock activity includes a significant sale by major shareholder Intel, who sold over 63 million shares, reducing their position by 56.04%, leading to a current ownership of approximately 50 million shares.
• Analysts have mixed opinions on Mobileye's stock, with 2 sell ratings, 14 hold ratings, and 9 buy ratings, resulting in an average rating of "Hold" and an average price target of $19.21.

Mobileye Global (NASDAQ:MBLY - Get Free Report)'s stock had its "buy" rating reissued by analysts at Needham & Company LLC in a research report issued on Friday,Benzinga reports. They presently have a $18.00 price target on the stock. Needham & Company LLC's target price points to a potential upside of 24.10% from the stock's previous close.

Other equities analysts have also recently issued reports about the company. TD Cowen lifted their price objective on Mobileye Global from $18.00 to $22.00 and gave the stock a "buy" rating in a report on Friday, July 11th. The Goldman Sachs Group cut Mobileye Global from a "buy" rating to a "neutral" rating and set a $17.00 price target for the company. in a report on Monday, June 9th. Barclays upped their target price on Mobileye Global from $14.00 to $16.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. JPMorgan Chase & Co. lifted their price objective on Mobileye Global from $10.00 to $12.00 and gave the company an "underweight" rating in a research note on Thursday, July 17th. Finally, Wells Fargo & Company boosted their target price on Mobileye Global from $18.00 to $24.00 and gave the stock an "overweight" rating in a report on Wednesday, July 9th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $19.58.

Mobileye Global Stock Down 4.4%

MBLY traded down $0.68 during trading on Friday, hitting $14.51. 5,336,424 shares of the stock were exchanged, compared to its average volume of 5,496,080. The stock has a fifty day moving average price of $16.54 and a two-hundred day moving average price of $15.76. Mobileye Global has a 1-year low of $10.48 and a 1-year high of $22.51. The firm has a market capitalization of $11.79 billion, a P/E ratio of -3.98, a PEG ratio of 15.31 and a beta of 0.54.

Mobileye Global (NASDAQ:MBLY - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.02. Mobileye Global had a positive return on equity of 0.73% and a negative net margin of 153.91%. The company had revenue of $506.00 million for the quarter, compared to the consensus estimate of $466.42 million. During the same period last year, the business posted $0.09 EPS. The company's revenue was up 15.3% on a year-over-year basis. Analysts predict that Mobileye Global will post 0.01 EPS for the current year.

Insider Buying and Selling

In related news, EVP Boaz Ouriel sold 67,493 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $16.09, for a total value of $1,085,962.37. Following the sale, the executive vice president directly owned 107,853 shares in the company, valued at $1,735,354.77. This trade represents a 38.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Corp Intel sold 63,731,985 shares of the firm's stock in a transaction on Friday, July 11th. The stock was sold at an average price of $16.05, for a total value of $1,022,898,359.25. Following the sale, the insider directly owned 50,000,000 shares of the company's stock, valued at approximately $802,500,000. This represents a 56.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mobileye Global

Several institutional investors have recently bought and sold shares of the stock. Slow Capital Inc. grew its position in Mobileye Global by 4.4% during the second quarter. Slow Capital Inc. now owns 234,565 shares of the company's stock worth $4,217,000 after buying an additional 9,912 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Mobileye Global in the 2nd quarter worth approximately $372,000. Triumph Capital Management raised its position in Mobileye Global by 6.7% in the 2nd quarter. Triumph Capital Management now owns 75,840 shares of the company's stock worth $1,364,000 after purchasing an additional 4,795 shares during the last quarter. Rhumbline Advisers bought a new stake in shares of Mobileye Global during the 1st quarter valued at $27,000. Finally, Woodline Partners LP bought a new stake in shares of Mobileye Global during the 1st quarter valued at $4,711,000. 13.25% of the stock is currently owned by 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.