Valens Semiconductor (NYSE:VLN) Now Covered by Needham & Company LLC

Needham & Company LLC assumed coverage on shares of Valens Semiconductor (NYSE:VLN) in a report published on Friday, Marketbeat.com reports. The brokerage issued a buy rating and a $4.00 price target on the stock.

Valens Semiconductor Trading Up 6.7 %

Shares of VLN opened at $2.13 on Friday. Valens Semiconductor has a 1-year low of $1.67 and a 1-year high of $3.50. The firm has a market capitalization of $226.93 million, a price-to-earnings ratio of -8.54 and a beta of 0.33. The firm’s 50-day moving average price is $2.19 and its 200-day moving average price is $2.23.

Hedge Funds Weigh In On Valens Semiconductor

Several institutional investors and hedge funds have recently added to or reduced their stakes in VLN. Value Base Ltd. bought a new stake in Valens Semiconductor during the fourth quarter worth about $53,672,000. Oppenheimer & Co. Inc. boosted its holdings in Valens Semiconductor by 24.1% in the fourth quarter. Oppenheimer & Co. Inc. now owns 273,797 shares of the company’s stock worth $712,000 after acquiring 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 worth $8,996,000. Brown Brothers Harriman & Co. bought a new position in shares of Valens Semiconductor during the fourth quarter valued at $109,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Valens Semiconductor in the 4th quarter worth about $61,000. Hedge funds and other institutional investors own 33.90% of the company’s stock.

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.