Valens Semiconductor (NYSE:VLN) Coverage Initiated by Analysts at Needham & Company LLC

Analysts at Needham & Company LLC initiated coverage on shares of Valens Semiconductor (NYSE:VLN) in a research note issued to investors on Friday,Benzinga reports. The firm set a “buy” rating and a $4.00 price target on the stock. Needham & Company LLC’s target price points to a potential upside of 99.50% from the company’s previous close.

Valens Semiconductor Stock Down 0.2 %

Shares of VLN opened at $2.01 on Friday. Valens Semiconductor has a fifty-two week low of $1.67 and a fifty-two week high of $3.50. The firm has a market cap of $213.22 million, a PE ratio of -8.02 and a beta of 0.33. The company’s fifty day moving average is $2.20 and its two-hundred day moving average is $2.23.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of VLN. Ameriprise Financial Inc. grew its stake in Valens Semiconductor by 0.3% during the fourth quarter. Ameriprise Financial Inc. now owns 1,421,482 shares of the company’s stock worth $3,696,000 after buying an additional 4,100 shares during the period. Two Sigma Securities LLC boosted its holdings in Valens Semiconductor by 35.3% in the 4th quarter. Two Sigma Securities LLC now owns 18,541 shares of the company’s stock worth $48,000 after acquiring an additional 4,838 shares during the period. State of Tennessee Department of Treasury acquired a new stake in Valens Semiconductor during the 4th quarter valued at $35,000. Wolverine Trading LLC purchased a new stake in Valens Semiconductor during the 4th quarter worth $43,000. Finally, Occudo Quantitative Strategies LP purchased a new stake in shares of Valens Semiconductor during the fourth quarter worth about $40,000. 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.