Mobileye Global (NASDAQ:MBLY) Stock Rating Reaffirmed by JPMorgan Chase & Co.

Mobileye Global (NASDAQ:MBLY)‘s stock had its “underweight” rating reissued by equities research analysts at JPMorgan Chase & Co. in a note issued to investors on Monday, Marketbeat.com reports. They presently have a $10.00 price target on the stock, down from their previous price target of $16.00. JPMorgan Chase & Co.‘s price target indicates a potential downside of 18.30% from the company’s current price.

MBLY has been the topic of several other research reports. Fox Advisors lowered shares of Mobileye Global from an “overweight” rating to an “equal weight” rating in a research report on Thursday, August 1st. Robert W. Baird decreased their target price on Mobileye Global from $40.00 to $29.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Barclays dropped their target price on shares of Mobileye Global from $40.00 to $27.00 and set an “overweight” rating for the company in a report on Monday, August 5th. BNP Paribas lowered shares of Mobileye Global from a “neutral” rating to an “underperform” rating and set a $12.00 price target on the stock. in a report on Wednesday, October 2nd. Finally, Daiwa Capital Markets downgraded shares of Mobileye Global from a “buy” rating to a “neutral” rating in a research note on Monday, August 5th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $28.10.

Mobileye Global Price Performance

Mobileye Global stock opened at $12.24 on Monday. The firm has a market cap of $9.91 billion, a PE ratio of -58.29 and a beta of 0.08. The stock’s fifty day moving average price is $13.67 and its two-hundred day moving average price is $23.07. Mobileye Global has a one year low of $10.48 and a one year high of $44.48.

Mobileye Global (NASDAQ:MBLY) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $439.00 million for 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 was down 3.3% on a year-over-year basis. During the same quarter last year, the business earned $0.11 earnings per share. Sell-side 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 the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average price of $16.51 per share, for a total transaction of $10,433,709.13. Following the completion of the acquisition, the chief executive officer now directly owns 4,080,097 shares in the company, valued at approximately $67,362,401.47. 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 link. In related news, Director Patrick P. Gelsinger acquired 6,400 shares of the 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 directly owns 139,106 shares of the company’s stock, valued at $2,153,360.88. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Amnon Shashua bought 631,963 shares of the company’s 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 directly owns 4,080,097 shares in the company, 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. Insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Mobileye Global

Several hedge funds and other institutional investors have recently bought and sold shares of MBLY. The Manufacturers Life Insurance Company boosted its position in shares of 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 worth $254,832,000 after purchasing an additional 8,073,552 shares in the last quarter. Baillie Gifford & Co. grew its stake in Mobileye Global by 89.8% in the first quarter. Baillie Gifford & Co. now owns 15,985,212 shares of the company’s stock valued at $513,925,000 after acquiring an additional 7,560,929 shares during the period. Wellington Management Group LLP increased its holdings in shares of Mobileye Global by 200.3% during the fourth 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 in the last quarter. Janus Henderson Group PLC acquired a new position in shares of Mobileye Global during the first quarter worth approximately $69,638,000. Finally, 1832 Asset Management L.P. lifted its holdings in shares of Mobileye Global by 5,308.1% in the 1st quarter. 1832 Asset Management L.P. now owns 2,206,500 shares of the company’s stock worth $70,939,000 after purchasing an additional 2,165,700 shares in the last quarter. 13.25% of the stock is 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.