Berenberg Bank upgraded shares of Mobileye Global (NASDAQ:MBLY – Free Report) from a hold rating to a buy rating in a report released on Monday, Marketbeat Ratings reports. They currently have $11.00 price target on the stock.
MBLY has been the topic of several other research reports. The Goldman Sachs Group raised their price target on Mobileye Global from $8.00 to $9.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Wall Street Zen raised shares of Mobileye Global from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Royal Bank Of Canada dropped their target price on shares of Mobileye Global from $10.00 to $7.00 and set a “sector perform” rating on the stock in a report on Friday, July 24th. JPMorgan Chase & Co. cut their target price on shares of Mobileye Global from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, July 24th. Finally, Tigress Financial reduced their price target on shares of Mobileye Global from $25.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Mobileye Global has an average rating of “Moderate Buy” and a consensus price target of $12.65.
Mobileye Global Stock Performance
Mobileye Global (NASDAQ:MBLY – Get Free Report) last released its earnings results on Thursday, July 23rd. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.13. Mobileye Global had a positive return on equity of 0.70% and a negative net margin of 201.49%.The firm had revenue of $508.00 million for the quarter, compared to analysts’ expectations of $480.51 million. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. The company’s quarterly revenue was up .4% on a year-over-year basis. As a group, equities analysts predict that Mobileye Global will post 0.11 EPS for the current year.
Mobileye Global declared that its board has approved a stock buyback program on Thursday, April 23rd that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 3.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
Insiders Place Their Bets
In related news, Director Safroadu Yeboah-Amankwah bought 11,841 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were bought at an average price of $8.46 per share, for a total transaction of $100,174.86. Following the completion of the purchase, the director directly owned 84,336 shares of the company’s stock, valued at approximately $713,482.56. This trade represents a 16.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank D. Yeary bought 12,360 shares of Mobileye Global stock in a transaction on Thursday, July 30th. The stock was purchased at an average price of $7.98 per share, with a total value of $98,632.80. Following the completion of the acquisition, the director directly owned 12,360 shares of the company’s stock, valued at $98,632.80. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 10.00% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the company. IFP Advisors Inc lifted its position in Mobileye Global by 465.7% during the third quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock valued at $26,000 after acquiring an additional 1,495 shares during the last quarter. Rhumbline Advisers acquired a new position in shares of Mobileye Global during the first quarter worth $27,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Mobileye Global during the second quarter worth $31,000. Financial Management Professionals Inc. purchased a new stake in shares of Mobileye Global during the 4th quarter valued at $32,000. Finally, Leonteq Securities AG purchased a new stake in shares of Mobileye Global during the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 13.25% of the company’s stock.
About Mobileye Global
Mobileye Global Inc (NASDAQ: MBLY) is a leader in the development of advanced driver-assistance systems (ADAS) and autonomous driving technologies. Headquartered in Jerusalem, Israel, the company designs and supplies computer vision-based solutions that enable vehicles to detect and respond to road conditions, obstacles and signage. Mobileye’s core offering centers on its proprietary EyeQ system-on-a-chip (SoC) family, which processes video streams from automotive cameras to deliver features such as lane-keeping assist, adaptive cruise control, collision prevention and traffic sign recognition.
Founded in 1999 by Prof.
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