Needham & Company LLC reiterated their buy rating on shares of Valens Semiconductor (NYSE:VLN - Free Report) in a report published on Thursday,Benzinga reports. They currently have a $4.00 price objective on the stock.
Valens Semiconductor Price Performance
Shares of VLN traded up $0.01 on Thursday, hitting $2.48. The company's stock had a trading volume of 217,986 shares, compared to its average volume of 374,064. The company has a market capitalization of $263.73 million, a PE ratio of -9.92 and a beta of 0.28. Valens Semiconductor has a fifty-two week low of $1.67 and a fifty-two week high of $3.50. The company has a 50 day moving average price of $2.23 and a 200 day moving average price of $2.30.
Valens Semiconductor (NYSE:VLN - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.04). The business had revenue of $16.83 million during the quarter, compared to analyst estimates of $16.48 million. Valens Semiconductor had a negative return on equity of 14.05% and a negative net margin of 41.94%. On average, equities analysts forecast that Valens Semiconductor will post -0.33 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd lifted its holdings in Valens Semiconductor by 100.8% during the 1st quarter. XTX Topco Ltd now owns 138,229 shares of the company's stock worth $282,000 after buying an additional 69,389 shares in the last quarter. ARK Investment Management LLC bought a new stake in shares of Valens Semiconductor during the first quarter worth $1,158,000. St. Louis Trust Co bought a new stake in shares of Valens Semiconductor during the first quarter worth $120,000. Oppenheimer & Co. Inc. raised its position in shares of Valens Semiconductor by 3.9% during the first quarter. Oppenheimer & Co. Inc. now owns 284,608 shares of the company's stock worth $581,000 after acquiring an additional 10,811 shares during the last quarter. Finally, Wolverine Trading LLC bought a new stake in shares of Valens Semiconductor during the fourth quarter worth $43,000. 33.90% of the stock is owned by institutional investors and hedge funds.
Valens Semiconductor Company Profile
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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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