Mobileye Global (NASDAQ:MBLY) Upgraded to Strong-Buy at Zacks Research

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

Other equities analysts have also recently issued reports about the stock. Jefferies Financial Group assumed coverage on shares of Mobileye Global in a research note on Monday, May 18th. They issued an “underperform” rating and a $8.00 price objective on the stock. Wall Street Zen raised Mobileye Global from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. UBS Group raised their price target on Mobileye Global from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Weiss Ratings raised Mobileye Global from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, July 8th. Finally, JPMorgan Chase & Co. dropped their price objective on Mobileye Global from $11.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, April 16th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $13.70.

Mobileye Global Stock Up 0.4%

Shares of MBLY stock opened at $8.99 on Monday. The firm has a market cap of $7.56 billion, a price-to-earnings ratio of -1.78 and a beta of 1.16. Mobileye Global has a 12 month low of $6.47 and a 12 month high of $17.12. The stock has a 50-day moving average price of $9.49 and a 200 day moving average price of $9.06.

Mobileye Global (NASDAQ:MBLY) last issued its earnings results on Thursday, April 23rd. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.03. Mobileye Global had a negative net margin of 203.97% and a positive return on equity of 0.33%. The company had revenue of $558.00 million for the quarter, compared to analyst estimates of $519.34 million. During the same quarter last year, the firm earned $0.08 EPS. The company’s revenue for the quarter was up 27.4% on a year-over-year basis. Sell-side analysts predict that Mobileye Global will post -0.09 earnings per share for the current fiscal year.

Mobileye Global announced that its board has authorized a stock buyback program on Thursday, April 23rd that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 3.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Institutional Trading of Mobileye Global

A number of large investors have recently made changes to their positions in the company. Handelsbanken Fonder AB raised its stake in Mobileye Global by 38.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 46,100 shares of the company’s stock worth $446,000 after buying an additional 12,700 shares during the period. Gradient Investments LLC bought a new stake in shares of Mobileye Global in the second quarter worth about $921,000. FNY Investment Advisers LLC raised its position in shares of Mobileye Global by 260.5% during the second quarter. FNY Investment Advisers LLC now owns 14,923 shares of the company’s stock worth $144,000 after purchasing an additional 10,784 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Mobileye Global during the second quarter worth about $23,423,000. Finally, 180 Wealth Advisors LLC lifted its holdings in shares of Mobileye Global by 18.3% during the 2nd quarter. 180 Wealth Advisors LLC now owns 25,909 shares of the company’s stock valued at $251,000 after purchasing an additional 4,017 shares in the last quarter. Institutional investors own 13.25% of the company’s stock.

Mobileye Global Company Profile

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.