MBLY Stock Recent News

JERUSALEM--(BUSINESS WIRE)--Mobileye (Nasdaq: MBLY) has chosen to end the internal development of next-generation frequency modulated continuous wave (FMCW) lidars for use in autonomous and highly automated driving systems. As part of our regular review of the long-term technology roadmap, we now believe that the availability of next-generation FMCW lidar is less essential to our roadmap for eyes-off systems. This decision was based on a variety of factors, including substantial progress on our.

Investors looking for stocks in the Automotive - Original Equipment sector might want to consider either Strattec Security (STRT) or Mobileye Global (MBLY). But which of these two stocks offers value investors a better bang for their buck right now?

Mobileye reported better-than-expected Q2 results but stock plummeted almost 25% and is down over 60% this year. Significant improvements in revenue, EPS, inventory, and margins in Q2, but uncertainties with China and next-gen ADAS pose mid-term risks. Despite positive financial execution and cash flow, Mobileye's valuation remains steep with lowered revenue estimates and ongoing uncertainties, suggesting a Hold rating.

NEW YORK, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Mobileye Global Inc. (NASDAQ: MBLY) on behalf of long-term stockholders following a class action complaint that was filed against Mobileye on January 16, 2024 with a Class Period from January 26, 2023 to January 3, 2024. Our investigation concerns whether the board of directors of Mobileye have breached their fiduciary duties to the company.

Mobileye remains the leader in advanced driver-assistance systems, with long-term revenue growth expected to outpace macro issues in the automotive industry. Q2 results showed revenue down YoY but a significant QoQ increase, conforming the inventory digestion was mostly in Q1. Long-term growth drivers include expansion into new markets, adoption of newer SoCs, and deployment of advanced ADAS and AV products.

Guidance was disappointing, but the opportunity for Mobileye seems to be getting bigger.

Mobileye cut its 2024 guidance last week on near-term concerns related to China. The guidance cut triggered a heavy sell-off that dropped the stock by over 20%.

Mobileye (MBLY) trims its sales and profit guidance due to reduced expectations for EyeQ and SuperVision shipments for the remainder of 2024.

Zeekr (NYSE: ZK), a premium electric vehicle manufacturer, and Mobileye (NASDAQ: MBLY), a leader in autonomous driving solutions, are deepening their collaboration to localize technology in China and integrate Mobileye tech into new Zeekr models. Zeekr will use Mobileye's road intelligence technology across its new vehicle lineup, enabling efficient data validation and software updates.

Mobileye Global Inc. (NASDAQ:MBLY ) Q2 2024 Results Conference Call August 1, 2024 8:00 AM ET Company Participants Dan Galves - Chief Communications Officer Amnon Shashua - Chief Executive Officer & President Moran Shemesh - Chief Financial Officer Nimrod Nehushtan - Executive Vice President of Strategy & Business Development Conference Call Participants Ananda Baruah - Loop Capital Markets George Gianarikas - Canaccord Genuity Antoine Chkaiban - New Street Research Adam Jonas - Morgan Stanley Steven Fox - Fox Advisors Operator Greetings, and welcome to the Mobileye 2Q '24 Earnings Call. At this time, all participants are in a listen-only mode.