Shares of Mobileye (MBLY) were roughly flat during afternoon trading on Monday after being downgraded to "neutral" from "overweight" at Piper Jaffray.

Today's downgrade comes after Intel (INTC - Get Report) agreed last week to purchase Mobileye for $15.3 billion.

Piper Jaffray analyst Alexander Potter wrote that he "begrudgingly" concluded the price Intel paid for acquiring technology company was fair.

The firm upped its price target on the stock to $63.54 from $60 to reflect Intel's offer.