Millennium Management LLC increased its holdings in shares of Valens Semiconductor Ltd. (NYSE:VLN - Free Report) by 389.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 614,577 shares of the company's stock after purchasing an additional 489,108 shares during the period. Millennium Management LLC owned approximately 0.58% of Valens Semiconductor worth $1,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in the business. State of Tennessee Department of Treasury purchased a new position in Valens Semiconductor in the fourth quarter valued at $35,000. Two Sigma Securities LLC increased its holdings in Valens Semiconductor by 35.3% in the fourth quarter. Two Sigma Securities LLC now owns 18,541 shares of the company's stock valued at $48,000 after buying an additional 4,838 shares in the last quarter. Jane Street Group LLC purchased a new position in Valens Semiconductor in the fourth quarter valued at $52,000. Cubist Systematic Strategies LLC purchased a new position in Valens Semiconductor in the fourth quarter valued at $61,000. Finally, Brown Brothers Harriman & Co. purchased a new position in Valens Semiconductor in the fourth quarter valued at $109,000. Hedge funds and other institutional investors own 33.90% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, Needham & Company LLC reaffirmed a "buy" rating and issued a $4.00 price objective on shares of Valens Semiconductor in a report on Thursday, May 8th.
Get Our Latest Report on Valens Semiconductor
Valens Semiconductor Trading Up 1.1%
VLN traded up $0.03 on Friday, reaching $2.21. The stock had a trading volume of 186,923 shares, compared to its average volume of 364,764. The company has a market cap of $234.48 million, a P/E ratio of -8.82 and a beta of 0.22. The business's 50-day moving average price is $2.31 and its two-hundred day moving average price is $2.35. Valens Semiconductor Ltd. has a 12-month low of $1.67 and a 12-month high of $3.50.
Valens Semiconductor (NYSE:VLN - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.07) EPS for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.04). The company had revenue of $16.83 million for the quarter, compared to analysts' expectations of $16.48 million. Valens Semiconductor had a negative return on equity of 14.05% and a negative net margin of 41.94%. As a group, analysts predict that Valens Semiconductor Ltd. will post -0.33 earnings per share for the current year.
About Valens Semiconductor
(
Free Report)
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.
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