Mobileye Global (NASDAQ:MBLY) Given New $53.00 Price Target at Citigroup

Mobileye Global (NASDAQ:MBLY) had its price target cut by Citigroup from $58.00 to $53.00 in a research report sent to investors on Monday, Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently commented on MBLY. Raymond James reduced their target price on Mobileye Global from $48.00 to $40.00 in a research note on Monday, January 22nd. JPMorgan Chase & Co. boosted their price objective on Mobileye Global from $34.00 to $38.00 and gave the company an overweight rating in a report on Thursday, April 11th. TD Cowen upped their target price on Mobileye Global from $35.00 to $37.00 and gave the stock a buy rating in a research report on Friday, April 26th. Canaccord Genuity Group lifted their price target on shares of Mobileye Global from $31.00 to $37.00 and gave the company a buy rating in a research report on Friday, April 26th. Finally, Wolfe Research upgraded shares of Mobileye Global from a peer perform rating to an outperform rating and set a $41.00 price objective on the stock in a report on Friday, April 12th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $40.58.

Mobileye Global Trading Up 4.8 %

NASDAQ:MBLY opened at $28.87 on Monday. Mobileye Global has a 12 month low of $23.49 and a 12 month high of $47.41. The stock has a market capitalization of $23.28 billion, a price-to-earnings ratio of -137.47, a PEG ratio of 13.02 and a beta of -0.21. The firm has a fifty day simple moving average of $29.32 and a two-hundred day simple moving average of $33.22.

Insider Activity

In other Mobileye Global news, Director Patrick P. Gelsinger acquired 1,611 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were acquired at an average price of $28.17 per share, with a total value of $45,381.87. Following the completion of the transaction, the director now owns 132,706 shares in the company, valued at $3,738,328.02. 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 acquired 1,611 shares of the stock in a transaction on Wednesday, May 1st. The shares were acquired at an average price of $28.17 per share, with a total value of $45,381.87. Following the completion of the transaction, the director now owns 132,706 shares in the company, valued at approximately $3,738,328.02. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Patrick P. Gelsinger bought 2,000 shares of Mobileye Global stock in a transaction dated Monday, April 29th. The shares were bought at an average cost of $27.53 per share, with a total value of $55,060.00. Following the completion of the transaction, the director now directly owns 131,095 shares in the company, valued at $3,609,045.35. The disclosure for this purchase can be found here. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Mobileye Global

Several hedge funds have recently made changes to their positions in the company. Baillie Gifford & Co. increased its holdings in 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 acquiring an additional 7,560,929 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its position in Mobileye Global by 121.3% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,336 shares of the company’s stock worth $139,000 after purchasing an additional 2,377 shares during the period. Perigon Wealth Management LLC increased its stake in shares of Mobileye Global by 6.7% in the first quarter. Perigon Wealth Management LLC now owns 10,592 shares of the company’s stock worth $341,000 after purchasing an additional 664 shares in the last quarter. Pinnacle Associates Ltd. raised its position in shares of Mobileye Global by 15.7% in the first quarter. Pinnacle Associates Ltd. now owns 8,840 shares of the company’s stock valued at $284,000 after purchasing an additional 1,200 shares during the period. Finally, Peregrine Capital Management LLC purchased a new stake in shares of Mobileye Global during the 1st quarter valued at approximately $34,684,000. 13.25% of the stock is currently owned by institutional investors.

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.