Mobileye Global (NASDAQ:MBLY) Given New $19.00 Price Target at Barclays

Mobileye Global (NASDAQ:MBLY) had its price objective decreased by Barclays from $27.00 to $19.00 in a research note released on Tuesday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other brokerages also recently weighed in on MBLY. Daiwa America downgraded Mobileye Global from a strong-buy rating to a hold rating in a research note on Monday, August 5th. Daiwa Capital Markets downgraded Mobileye Global from a buy rating to a neutral rating in a research note on Monday, August 5th. Morgan Stanley raised Mobileye Global from an underweight rating to an equal weight rating and cut their target price for the company from $25.00 to $18.00 in a research note on Friday, August 2nd. Needham & Company LLC dropped their price objective on Mobileye Global from $36.00 to $25.00 and set a buy rating on the stock in a research note on Friday, August 2nd. Finally, Evercore ISI dropped their price objective on Mobileye Global from $35.00 to $30.00 and set an outperform rating on the stock in a research note on Monday. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, ten have issued 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 a consensus target price of $25.55.

Mobileye Global Trading Down 6.1 %

Shares of NASDAQ MBLY opened at $12.17 on Tuesday. The company has a market cap of $9.85 billion, a price-to-earnings ratio of -57.95 and a beta of 0.08. Mobileye Global has a 12-month low of $10.48 and a 12-month high of $44.48. The stock’s 50 day simple moving average is $13.23 and its 200 day simple moving average is $22.38.

Mobileye Global (NASDAQ:MBLY) last announced 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. The firm 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 revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.11 EPS. As a group, equities analysts forecast 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 purchased 6,400 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was bought 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 in the company, valued at $2,153,360.88. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Amnon Shashua purchased 631,963 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was bought 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 owns 4,080,097 shares in the company, valued at $67,362,401.47. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Patrick P. Gelsinger purchased 6,400 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were bought at an average price of $15.48 per share, with a total value of $99,072.00. Following the purchase, the director now owns 139,106 shares in the company, valued at $2,153,360.88. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Mobileye Global

Several hedge funds have recently added to or reduced their stakes in the business. Baillie Gifford & Co. boosted its stake in Mobileye Global by 89.8% during the 1st quarter. Baillie Gifford & Co. now owns 15,985,212 shares of the company’s stock valued at $513,925,000 after purchasing an additional 7,560,929 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Mobileye Global by 807.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,073,601 shares of the company’s stock valued at $254,832,000 after purchasing an additional 8,073,552 shares during the period. Wellington Management Group LLP boosted its stake in Mobileye Global by 200.3% during the 4th 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. DAVENPORT & Co LLC boosted its stake in Mobileye Global by 20.9% during the 1st quarter. DAVENPORT & Co LLC now owns 2,364,377 shares of the company’s stock valued at $76,519,000 after purchasing an additional 408,038 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Mobileye Global by 4.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,347,269 shares of the company’s stock valued at $65,923,000 after purchasing an additional 94,946 shares during the period. Institutional investors own 13.25% of the company’s stock.

Mobileye Global Company Profile

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.