Renaissance Technologies LLC increased its stake in shares of Valens Semiconductor Ltd. (NYSE:VLN - Free Report) by 41.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,001,930 shares of the company's stock after buying an additional 293,230 shares during the quarter. Renaissance Technologies LLC owned about 0.94% of Valens Semiconductor worth $2,605,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. increased its stake in 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 acquiring an additional 53,155 shares during the last quarter. IGP Investments G.P.L.P LP bought a new position in shares of Valens Semiconductor in the fourth quarter worth about $8,996,000. Value Base Ltd. bought a new stake in shares of Valens Semiconductor during the 4th quarter valued at approximately $53,672,000. Finally, Brown Brothers Harriman & Co. bought a new position in Valens Semiconductor in the 4th quarter valued at approximately $109,000. Institutional investors and hedge funds own 33.90% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, Needham & Company LLC began coverage on shares of Valens Semiconductor in a report on Friday, April 11th. They set a "buy" rating and a $4.00 price target for the company.
Read Our Latest Analysis on Valens Semiconductor
Valens Semiconductor Price Performance
Valens Semiconductor stock remained flat at $2.65 during trading hours on Wednesday. The company's stock had a trading volume of 244,897 shares, compared to its average volume of 374,880. The firm has a market cap of $281.81 million, a price-to-earnings ratio of -10.60 and a beta of 0.33. The stock's fifty day moving average price is $2.16 and its 200 day moving average price is $2.25. Valens Semiconductor Ltd. has a 52-week low of $1.67 and a 52-week high of $3.50.
Valens Semiconductor Company Profile
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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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