Mobileye Global Inc. (NASDAQ:MBLY) Receives Consensus Recommendation of “Hold” from Brokerages

Mobileye Global Inc. (NASDAQ:MBLY) has received an average recommendation of “Hold” from the twenty-five analysts that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation, ten have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $12.6364.

MBLY has been the subject of a number of analyst reports. Zacks Research upgraded shares of Mobileye Global from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. Wall Street Zen upgraded shares of Mobileye Global from a “sell” rating to a “hold” rating in a research note on Saturday, April 25th. Mizuho dropped their target price on shares of Mobileye Global from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, July 24th. Needham & Company LLC reissued a “buy” rating and set a $13.00 target price on shares of Mobileye Global in a research report on Friday, July 24th. Finally, Tigress Financial cut their target price on shares of Mobileye Global from $25.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, July 30th.

Mobileye Global Stock Up 3.7%

Mobileye Global stock opened at $8.73 on Friday. Mobileye Global has a 12 month low of $6.47 and a 12 month high of $15.81. The stock has a market cap of $7.33 billion, a P/E ratio of -1.75, a P/E/G ratio of 2.98 and a beta of 1.20. The company’s fifty day simple moving average is $9.01 and its 200-day simple moving average is $8.80.

Mobileye Global (NASDAQ:MBLY) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.06 by $0.13. The business had revenue of $508.00 million during the quarter, compared to analysts’ expectations of $480.51 million. Mobileye Global had a positive return on equity of 0.70% and a negative net margin of 201.49%.The firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.08) EPS. On average, equities research analysts expect that Mobileye Global will post 0.11 earnings per share for the current fiscal year.

Mobileye Global announced that its Board of Directors has initiated a stock buyback plan on Thursday, April 23rd that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 3.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Insider Activity at Mobileye Global

In other Mobileye Global news, Director Frank D. Yeary acquired 12,360 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was acquired at an average price of $7.98 per share, with a total value of $98,632.80. Following the transaction, the director owned 12,360 shares of the company’s stock, valued at approximately $98,632.80. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.00% of the company’s stock.

Institutional Trading of Mobileye Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MBLY. IFP Advisors Inc lifted its holdings in shares of Mobileye Global by 465.7% during the third quarter. IFP Advisors Inc now owns 1,816 shares of the company’s stock worth $26,000 after buying an additional 1,495 shares during the last quarter. Rhumbline Advisers bought a new stake in shares of Mobileye Global in the first quarter valued at approximately $27,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Mobileye Global in the second quarter worth $31,000. Financial Management Professionals Inc. acquired a new stake in shares of Mobileye Global in the fourth quarter worth $32,000. Finally, Leonteq Securities AG bought a new position in Mobileye Global during the fourth quarter worth $33,000. Institutional investors and hedge funds 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.