Valens Semiconductor Ltd. (NYSE:VLN) Shares Bought by Millennium Management LLC

Millennium Management LLC raised its holdings in Valens Semiconductor Ltd. (NYSE:VLN - Free Report) by 389.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 614,577 shares of the company's stock after purchasing an additional 489,108 shares during the period. Millennium Management LLC owned 0.58% of Valens Semiconductor worth $1,598,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of VLN. Oppenheimer & Co. Inc. lifted its holdings in shares of Valens Semiconductor by 24.1% in the fourth quarter. Oppenheimer & Co. Inc. now owns 273,797 shares of the company's stock valued at $712,000 after purchasing an additional 53,155 shares in the last quarter. IGP Investments G.P.L.P LP purchased a new stake in shares of Valens Semiconductor in the fourth quarter valued at about $8,996,000. Value Base Ltd. acquired a new position in shares of Valens Semiconductor in the fourth quarter valued at approximately $53,672,000. Brown Brothers Harriman & Co. acquired a new position in shares of Valens Semiconductor in the fourth quarter valued at approximately $109,000. Finally, Renaissance Technologies LLC raised its position in shares of Valens Semiconductor by 41.4% in the fourth quarter. Renaissance Technologies LLC now owns 1,001,930 shares of the company's stock valued at $2,605,000 after buying an additional 293,230 shares during the last quarter. Hedge funds and other institutional investors own 33.90% of the company's stock.

Valens Semiconductor Stock Down 1.1%

Shares of NYSE:VLN traded down $0.03 during trading on Thursday, reaching $2.18. The stock had a trading volume of 187,895 shares, compared to its average volume of 367,922. The business has a fifty day moving average price of $2.30 and a 200-day moving average price of $2.35. The stock has a market cap of $231.29 million, a P/E ratio of -8.70 and a beta of 0.22. Valens Semiconductor Ltd. has a fifty-two week low of $1.67 and a fifty-two week high of $3.50.

Valens Semiconductor (NYSE:VLN - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.07) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.04). Valens Semiconductor had a negative net margin of 41.94% and a negative return on equity of 14.05%. The firm had revenue of $16.83 million during the quarter, compared to analyst estimates of $16.48 million. As a group, equities analysts forecast that Valens Semiconductor Ltd. will post -0.33 EPS for the current year.

Analyst Ratings Changes

Separately, Needham & Company LLC reissued a "buy" rating and issued a $4.00 price objective on shares of Valens Semiconductor in a research report on Thursday, May 8th.

About Valens Semiconductor

Valens Semiconductor Ltd. engages in the provision of semiconductor products for the audio-video and automotive industries. The company offers HDBaseT technology, which enables the simultaneous delivery of ultra-high-definition digital video and audio, Ethernet, USB, control signals, and power through a single long-reach cable.