Mobileye Global (NASDAQ:MBLY) Downgraded by Zacks Research to Hold

Zacks Research downgraded shares of Mobileye Global (NASDAQ:MBLY) from a strong-buy rating to a hold rating in a research note released on Tuesday morning,Zacks.com reports.

A number of other analysts have also recently weighed in on the stock. TD Cowen dropped their target price on shares of Mobileye Global from $11.50 to $9.00 and set a “buy” rating on the stock in a report on Friday, July 24th. Tigress Financial cut their target price on shares of Mobileye Global from $25.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Piper Sandler upgraded Mobileye Global from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $10.00 to $12.00 in a research note on Monday, July 27th. Berenberg Bank raised Mobileye Global from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a report on Monday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $13.00 price target on shares of Mobileye Global in a report on Friday, July 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.65.

Mobileye Global Price Performance

Shares of MBLY stock opened at $9.10 on Tuesday. Mobileye Global has a 12 month low of $6.47 and a 12 month high of $15.81. The company’s fifty day moving average price is $8.84 and its two-hundred day moving average price is $8.72. The firm has a market capitalization of $7.64 billion, a P/E ratio of -1.82, a P/E/G ratio of 3.03 and a beta of 1.20.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.13. Mobileye Global had a positive return on equity of 0.70% and a negative net margin of 201.49%.The business had revenue of $508.00 million during the quarter, compared to the consensus estimate of $480.51 million. During the same period last year, the firm earned ($0.08) earnings per share. The company’s revenue for the quarter was up .4% compared to the same quarter last year. On average, sell-side analysts anticipate that Mobileye Global will post 0.11 EPS for the current year.

Mobileye Global announced that its board has initiated a share repurchase plan on Thursday, April 23rd that permits the company to buyback $250.00 million in shares. This buyback authorization permits the company to reacquire up to 3.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Mobileye Global

In related news, Director Frank D. Yeary bought 12,360 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The shares were acquired at an average price of $7.98 per share, with a total value of $98,632.80. Following the completion of the transaction, the director owned 12,360 shares of the company’s stock, valued at $98,632.80. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Safroadu Yeboah-Amankwah purchased 11,841 shares of Mobileye Global stock in a transaction on Thursday, August 6th. The stock was bought at an average cost of $8.46 per share, with a total value of $100,174.86. Following the completion of the acquisition, the director owned 84,336 shares in the company, valued at approximately $713,482.56. This trade 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 Trading of Mobileye Global

Hedge funds have recently modified their holdings of the company. IFP Advisors Inc lifted its position in Mobileye Global by 465.7% in the third quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock worth $26,000 after purchasing an additional 1,495 shares during the period. Rhumbline Advisers acquired a new position in Mobileye Global in the first quarter worth about $27,000. Northwestern Mutual Wealth Management Co. bought a new position in Mobileye Global during the second quarter worth about $31,000. Leonteq Securities AG bought a new stake in shares of Mobileye Global in the 4th quarter valued at approximately $33,000. Finally, Bogart Wealth LLC lifted its holdings in Mobileye Global by 5,000.0% during the 1st quarter. Bogart Wealth LLC now owns 5,100 shares of the company’s stock valued at $35,000 after purchasing an additional 5,000 shares during the last quarter. Institutional investors own 13.25% of the company’s stock.

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.