Mobileye Global (NASDAQ:MBLY) Downgraded to Sector Perform at Royal Bank of Canada

Mobileye Global (NASDAQ:MBLY) was downgraded by stock analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a report released on Tuesday, Marketbeat reports. They presently have a $11.00 target price on the stock, down from their previous target price of $24.00. Royal Bank of Canada’s target price would indicate a potential downside of 9.32% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Westpark Capital reiterated a “hold” rating on shares of Mobileye Global in a research note on Wednesday, July 31st. Mizuho lowered shares of Mobileye Global from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $30.00 to $13.00 in a research report on Friday, October 11th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $10.00 price objective (down previously from $16.00) on shares of Mobileye Global in a research report on Monday, October 7th. Needham & Company LLC lowered their price objective on shares of 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, The Goldman Sachs Group cut their target price on shares of Mobileye Global from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, October 1st. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $25.55.

Mobileye Global Trading Down 0.3 %

Mobileye Global stock opened at $12.13 on Tuesday. Mobileye Global has a 1-year low of $10.48 and a 1-year high of $44.48. The company has a fifty day simple moving average of $13.18 and a 200 day simple moving average of $22.31. The company has a market cap of $9.82 billion, a P/E ratio of -57.76 and a beta of 0.08.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings data 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 company had revenue of $439.00 million during 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%. Mobileye Global’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.11 EPS. On average, equities research analysts forecast that Mobileye Global will post -0.06 EPS for the current year.

Insider Buying and Selling at Mobileye Global

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

Institutional Investors Weigh In On Mobileye Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in MBLY. Register Financial Advisors LLC bought a new position in shares of Mobileye Global in the first quarter worth about $32,000. Newbridge Financial Services Group Inc. bought a new position in Mobileye Global in the 4th quarter valued at approximately $77,000. Cranbrook Wealth Management LLC acquired a new stake in Mobileye Global in the second quarter valued at approximately $84,000. Natixis Investment Managers International bought a new stake in shares of Mobileye Global during the first quarter worth $99,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Mobileye Global by 64.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,736 shares of the company’s stock worth $162,000 after buying an additional 1,470 shares in the last quarter. 13.25% of the stock is currently owned by institutional investors.

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.