Mobileye Global (NASDAQ:MBLY) Cut to “Neutral” at BNP Paribas

BNP Paribas downgraded shares of Mobileye Global (NASDAQ:MBLY) from an outperform rating to a neutral rating in a research note published on Monday, Marketbeat.com reports. They currently have $17.00 price target on the stock.

Other analysts also recently issued reports about the stock. Fox Advisors downgraded shares of Mobileye Global from an overweight rating to an equal weight rating in a research note on Thursday, August 1st. Robert W. Baird lowered their price target 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 lowered their price target on shares of Mobileye Global from $36.00 to $25.00 and set a buy rating for the company in a research note on Friday, August 2nd. Piper Sandler upped their price objective on shares of Mobileye Global from $31.00 to $32.00 and gave the company a neutral rating in a research note on Friday, April 26th. Finally, JPMorgan Chase & Co. downgraded shares of Mobileye Global from an overweight rating to a neutral rating and lowered their price objective for the company from $38.00 to $24.00 in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Mobileye Global currently has an average rating of Moderate Buy and a consensus price target of $32.89.

Mobileye Global Stock Performance

NASDAQ MBLY opened at $15.00 on Monday. Mobileye Global has a 52-week low of $14.33 and a 52-week high of $44.48. The company has a market capitalization of $12.09 billion, a P/E ratio of -71.43, a P/E/G ratio of 29.75 and a beta of 0.13. The company has a fifty day moving average of $25.26 and a 200-day moving average of $27.34.

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

Insider Transactions at Mobileye Global

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. lifted its position in Mobileye Global by 89.8% during the first 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. Norges Bank bought a new position in Mobileye Global in the fourth quarter worth approximately $437,842,000. Kodai Capital Management LP bought a new position in Mobileye Global in the fourth quarter worth approximately $148,924,000. Wellington Management Group LLP raised its position in Mobileye Global by 200.3% in the fourth quarter. Wellington Management Group LLP now owns 3,398,211 shares of the company’s stock worth $147,210,000 after acquiring an additional 2,266,438 shares during the period. Finally, Franklin Resources Inc. raised its position in Mobileye Global by 25.8% in the fourth quarter. Franklin Resources Inc. now owns 2,622,704 shares of the company’s stock worth $113,616,000 after acquiring an additional 538,371 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.