Mobileye Global (NASDAQ:MBLY) Downgraded by Royal Bank of Canada to “Sector Perform”

Mobileye Global (NASDAQ:MBLY) was downgraded by analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Tuesday, Briefing.com reports. They currently have a $11.00 target price on the stock, down from their prior target price of $24.00. Royal Bank of Canada’s price target indicates a potential downside of 15.12% from the company’s previous close.

Several other brokerages have also issued reports on MBLY. Daiwa Capital Markets lowered Mobileye Global from a “buy” rating to a “neutral” rating in a research note on Monday, August 5th. Daiwa America downgraded Mobileye Global from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 5th. Westpark Capital reaffirmed a “hold” rating on shares of Mobileye Global in a research note on Wednesday, July 31st. Robert W. Baird decreased their price target on shares of Mobileye Global from $40.00 to $29.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $15.00 price objective on shares of Mobileye Global in a report on Tuesday, September 10th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $25.95.

Mobileye Global Stock Up 0.5 %

NASDAQ:MBLY opened at $12.96 on Tuesday. The stock has a market cap of $10.49 billion, a P/E ratio of -61.71 and a beta of 0.08. The business’s 50-day moving average price is $13.30 and its two-hundred day moving average price is $22.52. Mobileye Global has a twelve month low of $10.48 and a twelve month high of $44.48.

Mobileye Global (NASDAQ:MBLY) last posted its quarterly earnings data 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 company had revenue of $439.00 million for 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.11 earnings per share. On average, equities research analysts expect that Mobileye Global will post -0.06 EPS for the current fiscal year.

Insider Activity at Mobileye Global

In related news, Director Patrick P. Gelsinger acquired 6,400 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was acquired at an average cost of $15.48 per share, for a total transaction of $99,072.00. Following the acquisition, the director now owns 139,106 shares of the company’s stock, valued at $2,153,360.88. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Patrick P. Gelsinger acquired 6,400 shares of the business’s stock in a transaction on Monday, August 5th. The shares were acquired at an average cost of $15.48 per share, with a total value of $99,072.00. Following the transaction, 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 acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Amnon Shashua bought 631,963 shares of the firm’s stock in a transaction dated 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 transaction, 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 position. The disclosure for this purchase can be found here. 1.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Mitsubishi UFJ Trust & Banking Corp bought a new stake in Mobileye Global during the first quarter worth about $1,294,000. AXA S.A. lifted its holdings in shares of Mobileye Global by 35.6% during the second quarter. AXA S.A. now owns 518,076 shares of the company’s stock valued at $14,550,000 after purchasing an additional 135,967 shares during the last quarter. Raymond James & Associates boosted its position in shares of Mobileye Global by 258.7% in the 2nd quarter. Raymond James & Associates now owns 336,417 shares of the company’s stock worth $9,448,000 after purchasing an additional 242,640 shares in the last quarter. M&G Plc grew its stake in shares of Mobileye Global by 8.9% in the 2nd quarter. M&G Plc now owns 1,350,945 shares of the company’s stock worth $37,826,000 after buying an additional 110,032 shares during the last quarter. Finally, Tobam bought a new position in Mobileye Global during the 1st quarter valued at approximately $7,168,000. 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.