The Goldman Sachs Group Cuts Mobileye Global (NASDAQ:MBLY) Price Target to $20.00

Mobileye Global (NASDAQ:MBLY) had its price objective lowered by The Goldman Sachs Group from $24.00 to $20.00 in a research report released on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

MBLY has been the topic of several other research reports. Wolfe Research cut shares of Mobileye Global from an outperform rating to a peer perform rating in a report on Thursday, September 5th. HSBC started coverage on Mobileye Global in a report on Monday, July 15th. They issued a buy rating and a $33.00 price target on the stock. UBS Group dropped their price target on Mobileye Global from $22.00 to $20.00 and set a buy rating for the company in a research report on Thursday, August 15th. Fox Advisors cut shares of Mobileye Global from an overweight rating to an equal weight rating in a research report on Thursday, August 1st. Finally, Daiwa Capital Markets lowered shares of Mobileye Global from a buy rating to a neutral rating in a research report on Monday, August 5th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $28.80.

Mobileye Global Stock Up 4.4 %

MBLY stock opened at $12.93 on Tuesday. The stock has a 50-day simple moving average of $14.16 and a two-hundred day simple moving average of $23.53. Mobileye Global has a twelve month low of $10.48 and a twelve month high of $44.48. The firm has a market capitalization of $10.46 billion, a PE ratio of -61.57 and a beta of 0.08.

Mobileye Global (NASDAQ:MBLY) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.09 EPS 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 negative net margin of 12.14% and a positive return on equity of 1.32%. Mobileye Global’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.11 earnings per share. On average, equities research analysts anticipate that Mobileye Global will post -0.06 EPS for the current fiscal year.

Insider Activity at Mobileye Global

In other Mobileye Global news, CEO Amnon Shashua acquired 631,963 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was acquired at an average price 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 in the company, valued at $67,362,401.47. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Patrick P. Gelsinger purchased 6,400 shares of Mobileye Global 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 of the company’s stock, valued at $2,153,360.88. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Amnon Shashua acquired 631,963 shares of the stock in a transaction on Friday, August 2nd. The stock was bought at an average price of $16.51 per share, with a total value of $10,433,709.13. Following the completion of the acquisition, the chief executive officer now directly owns 4,080,097 shares of the company’s stock, valued at $67,362,401.47. 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 owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MBLY. The Manufacturers Life Insurance Company grew its stake in Mobileye Global by 807.3% in the second quarter. The Manufacturers Life Insurance Company now owns 9,073,601 shares of the company’s stock worth $254,832,000 after purchasing an additional 8,073,552 shares during the period. Baillie Gifford & Co. grew its position in shares of Mobileye Global by 89.8% in the 1st quarter. Baillie Gifford & Co. now owns 15,985,212 shares of the company’s stock worth $513,925,000 after buying an additional 7,560,929 shares during the period. Wellington Management Group LLP lifted its position 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 acquiring an additional 2,266,438 shares during the period. Janus Henderson Group PLC purchased a new position in Mobileye Global during the 1st quarter valued at about $69,638,000. Finally, 1832 Asset Management L.P. boosted its stake in Mobileye Global by 5,308.1% during the first quarter. 1832 Asset Management L.P. now owns 2,206,500 shares of the company’s stock worth $70,939,000 after acquiring an additional 2,165,700 shares in the last quarter. Institutional investors 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.