Mobileye Global (NASDAQ:MBLY) Downgraded to "Hold" Rating by Wall Street Zen

Key Points

• Mobileye Global (NASDAQ:MBLY) has been downgraded from a "buy" to a "hold" rating by Wall Street Zen.
• Multiple analysts have set varying price targets for Mobileye, with UBS Group raising their target to $18.00 while Robert W. Baird decreased theirs to $22.00.
• The company's stock has seen a 2.7% decline recently and has a current price of $13.60, reflecting its market cap of $11.09 billion.

Mobileye Global (NASDAQ:MBLY - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Sunday.

A number of other equities research analysts have also weighed in on MBLY. Barclays raised their price objective 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. BNP Paribas upgraded Mobileye Global from an "underperform" rating to a "neutral" rating and set a $11.00 price objective for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company raised their price objective on Mobileye Global from $18.00 to $24.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Mizuho lowered their price objective on 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, Canaccord Genuity Group raised their price objective on Mobileye Global from $25.00 to $30.00 and gave the company a "buy" rating in a research note on Friday, July 25th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $19.67.

Mobileye Global Trading Up 3.3%

Shares of NASDAQ:MBLY traded up $0.45 on Friday, hitting $13.95. The company had a trading volume of 5,196,147 shares, compared to its average volume of 5,527,169. The business has a 50 day moving average of $16.12 and a 200 day moving average of $15.59. Mobileye Global has a 52-week low of $10.48 and a 52-week high of $22.51. The company has a market cap of $11.37 billion, a PE ratio of -3.82, a PEG ratio of 8.91 and a beta of 0.52.

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

Insider Buying and Selling at Mobileye Global

In related news, EVP Boaz Ouriel sold 67,493 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $16.09, for a total transaction of $1,085,962.37. Following the transaction, the executive vice president owned 107,853 shares of the company's stock, valued at approximately $1,735,354.77. This trade represents a 38.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $1,022,898,359.25. Following the completion of the sale, the insider directly owned 50,000,000 shares in the company, valued at approximately $802,500,000. This trade represents a 56.04% decrease in their position. The disclosure for this sale can be found here. 1.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mobileye Global

Several institutional investors and hedge funds have recently modified their holdings of MBLY. Rhumbline Advisers purchased a new stake in shares of Mobileye Global in the 1st quarter worth about $27,000. Strategic Investment Solutions Inc. IL purchased a new position in Mobileye Global during the 4th quarter valued at about $40,000. Ancora Advisors LLC purchased a new position in Mobileye Global during the 4th quarter valued at about $40,000. KBC Group NV purchased a new position in Mobileye Global during the 2nd quarter valued at about $65,000. Finally, PNC Financial Services Group Inc. raised its holdings in Mobileye Global by 1,799.7% in the first quarter. PNC Financial Services Group Inc. now owns 5,851 shares of the company's stock worth $84,000 after buying an additional 5,543 shares during the last quarter. 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.