UBS Group Downgrades Mobileye Global (NASDAQ:MBLY) to Neutral

Mobileye Global (NASDAQ:MBLY) was downgraded by analysts at UBS Group from a “buy” rating to a “neutral” rating in a note issued to investors on Friday, MarketBeat.com reports. They presently have a $14.00 price target on the stock, down from their prior price target of $20.00. UBS Group’s price target would indicate a potential upside of 8.28% from the stock’s current price.

MBLY has been the subject of a number of other research reports. Westpark Capital reissued a “hold” rating on shares of Mobileye Global in a research report on Wednesday, July 31st. The Goldman Sachs Group dropped their price objective on shares of Mobileye Global from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, October 1st. Needham & Company LLC reduced their target price on shares of Mobileye Global from $36.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Royal Bank of Canada lowered their price target on Mobileye Global from $34.00 to $24.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Finally, BNP Paribas cut Mobileye Global from a “neutral” rating to an “underperform” rating and set a $12.00 price objective on the stock. in a research note on Wednesday. Three investment 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. According to data from MarketBeat, Mobileye Global presently has a consensus rating of “Hold” and an average price target of $28.80.

Mobileye Global Stock Performance

Shares of MBLY stock opened at $12.93 on Friday. The firm has a market capitalization of $10.46 billion, a price-to-earnings ratio of -61.57 and a beta of 0.08. The company has a 50 day moving average price of $13.99 and a 200 day moving average price of $23.42. Mobileye Global has a one year low of $10.48 and a one year high of $44.48.

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Register Financial Advisors LLC bought a new stake in Mobileye Global in the first quarter valued at $32,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Mobileye Global in the 4th quarter worth about $77,000. Cranbrook Wealth Management LLC bought a new stake in Mobileye Global in the 2nd quarter valued at about $84,000. Natixis Investment Managers International acquired a new position in Mobileye Global during the 1st quarter valued at about $99,000. Finally, EverSource Wealth Advisors LLC grew its position in Mobileye Global by 1,019.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,819 shares of the company’s stock worth $107,000 after purchasing an additional 3,478 shares during the last quarter. Institutional investors and hedge funds 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.