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

Mobileye Global (NASDAQ:MBLY) was downgraded by equities research analysts at UBS Group from a “buy” rating to a “neutral” rating in a research report issued on Friday, FinViz reports. They currently have a $14.00 price target on the stock, down from their previous price target of $20.00. UBS Group’s price target would suggest a potential upside of 12.99% from the stock’s current price.

MBLY has been the topic of a number of other research reports. Morgan Stanley upgraded Mobileye Global from an “underweight” rating to an “equal weight” rating and dropped their target price for the company from $25.00 to $18.00 in a report on Friday, August 2nd. Evercore ISI restated an “outperform” rating and issued a $35.00 price objective on shares of Mobileye Global in a report on Monday, August 26th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $15.00 price objective on shares of Mobileye Global in a report on Tuesday, September 10th. BNP Paribas downgraded Mobileye Global from a “neutral” rating to an “underperform” rating and set a $12.00 price objective on the stock. in a report on Wednesday. Finally, HSBC started coverage on Mobileye Global in a report on Monday, July 15th. They issued a “buy” rating and a $33.00 price objective on the stock. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $28.80.

Mobileye Global Price Performance

Shares of MBLY opened at $12.39 on Friday. The company has a market capitalization of $10.03 billion, a price-to-earnings ratio of -59.00 and a beta of 0.08. Mobileye Global has a fifty-two week low of $10.48 and a fifty-two week high of $44.48. The business’s 50-day moving average is $14.33 and its 200-day moving average is $23.61.

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 company had revenue of $439.00 million for the quarter, compared to the consensus estimate 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 quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 EPS. Equities research analysts expect that Mobileye Global will post -0.06 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Amnon Shashua bought 631,963 shares of Mobileye Global stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average cost of $16.51 per share, with a total value of $10,433,709.13. Following the completion of the transaction, the chief executive officer now directly owns 4,080,097 shares in the company, valued at $67,362,401.47. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Amnon Shashua bought 631,963 shares of Mobileye Global stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average cost of $16.51 per share, with a total value of $10,433,709.13. Following the completion of the transaction, the chief executive officer now directly owns 4,080,097 shares in the company, valued at $67,362,401.47. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Patrick P. Gelsinger bought 6,400 shares of Mobileye Global 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 completion of the transaction, the director now owns 139,106 shares of the company’s stock, valued at $2,153,360.88. The disclosure for this purchase can be found here. 1.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Coronation Fund Managers Ltd. bought a new position in shares of Mobileye Global during the second quarter valued at $4,567,000. Select Equity Group L.P. lifted its holdings in shares of Mobileye Global by 74.6% during the second quarter. Select Equity Group L.P. now owns 237,137 shares of the company’s stock valued at $6,660,000 after acquiring an additional 101,350 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Mobileye Global by 807.3% during the second quarter. The Manufacturers Life Insurance Company now owns 9,073,601 shares of the company’s stock valued at $254,832,000 after acquiring an additional 8,073,552 shares during the period. EVR Research LP lifted its holdings in shares of Mobileye Global by 8.2% during the second quarter. EVR Research LP now owns 330,000 shares of the company’s stock valued at $9,268,000 after acquiring an additional 25,000 shares during the period. Finally, AXA S.A. lifted its holdings in shares of Mobileye Global by 35.6% during the second quarter. AXA S.A. now owns 518,076 shares of the company’s stock valued at $14,550,000 after acquiring an additional 135,967 shares during the period. 13.25% of the stock is owned by 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.