BNP Paribas Downgrades Mobileye Global (NASDAQ:MBLY) to Underperform

BNP Paribas lowered shares of Mobileye Global (NASDAQ:MBLY) from a neutral rating to an underperform rating in a research report sent to investors on Wednesday, Marketbeat reports. The brokerage currently has $12.00 price target on the stock.

Several other research firms have also issued reports on MBLY. Daiwa Capital Markets lowered Mobileye Global from a buy rating to a neutral rating in a research note on Monday, August 5th. Robert W. Baird lowered their price objective on shares of Mobileye Global from $40.00 to $29.00 and set an outperform rating for the company in a research note on Friday, August 2nd. Needham & Company LLC dropped their price objective on shares of Mobileye Global from $36.00 to $25.00 and set a buy rating for the company in a report on Friday, August 2nd. Evercore ISI reiterated an outperform rating and set a $35.00 target price on shares of Mobileye Global in a report on Monday, August 26th. Finally, Barclays decreased their price target on shares of Mobileye Global from $40.00 to $27.00 and set an overweight rating for the company in a research report on Monday, August 5th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and an average price target of $28.80.

Mobileye Global Price Performance

Shares of MBLY opened at $12.93 on Wednesday. The firm has a 50-day simple moving average of $14.16 and a two-hundred day simple moving average of $23.53. Mobileye Global has a 1-year low of $10.48 and a 1-year high of $44.48. The stock has a market cap of $10.46 billion, a PE ratio of -61.57 and a beta of 0.08.

Mobileye Global (NASDAQ:MBLY) last posted its earnings results on Thursday, August 1st. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. Mobileye Global had a negative net margin of 12.14% and a positive return on equity of 1.32%. The firm had revenue of $439.00 million during the quarter, compared to the consensus estimate of $424.34 million. During the same quarter last year, the firm earned $0.11 EPS. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. As a group, sell-side analysts expect that Mobileye Global will post -0.06 earnings per share for the current fiscal year.

Insider Transactions at Mobileye Global

In related news, Director Patrick P. Gelsinger bought 6,400 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $15.48 per share, with a total value of $99,072.00. Following the transaction, the director now directly owns 139,106 shares of the company’s stock, valued at approximately $2,153,360.88. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Patrick P. Gelsinger bought 6,400 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was purchased at an average cost of $15.48 per share, with a total value of $99,072.00. Following the transaction, the director now directly owns 139,106 shares in the company, valued at $2,153,360.88. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Amnon Shashua purchased 631,963 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average price of $16.51 per share, for a total transaction of $10,433,709.13. Following the purchase, the chief executive officer now directly owns 4,080,097 shares in the company, valued at $67,362,401.47. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.80% of the company’s stock.

Institutional Trading of Mobileye Global

Several institutional investors and hedge funds have recently bought and sold shares of MBLY. Steward Partners Investment Advisory LLC raised its holdings in shares of Mobileye Global by 41.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,706 shares of the company’s stock valued at $680,000 after buying an additional 4,585 shares during the last quarter. TD Asset Management Inc lifted its position in Mobileye Global by 59.2% during the 4th quarter. TD Asset Management Inc now owns 140,083 shares of the company’s stock worth $6,068,000 after acquiring an additional 52,088 shares during the period. Bank of Nova Scotia purchased a new position in shares of Mobileye Global in the 4th quarter valued at approximately $402,000. Pinebridge Investments L.P. grew its stake in shares of Mobileye Global by 70.4% in the 4th quarter. Pinebridge Investments L.P. now owns 243,265 shares of the company’s stock valued at $10,537,000 after purchasing an additional 100,494 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Mobileye Global by 200.3% in the fourth quarter. Wellington Management Group LLP now owns 3,398,211 shares of the company’s stock valued at $147,210,000 after purchasing an additional 2,266,438 shares during the period. Hedge funds and other institutional investors own 13.25% of the company’s stock.

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.