Valens Semiconductor (NYSE:VLN) Upgraded at ThinkEquity

ThinkEquity upgraded shares of Valens Semiconductor (NYSE:VLN) to a strong-buy rating in a research report sent to investors on Monday,Zacks.com reports.

Valens Semiconductor Price Performance

NYSE:VLN opened at $2.06 on Monday. The firm has a 50 day simple moving average of $1.97 and a 200-day simple moving average of $2.36. The firm has a market cap of $219.14 million, a PE ratio of -8.24 and a beta of 0.45. Valens Semiconductor has a 1-year low of $1.67 and a 1-year high of $3.39.

Hedge Funds Weigh In On Valens Semiconductor

A number of institutional investors have recently modified their holdings of the company. ARK Investment Management LLC acquired a new position in Valens Semiconductor during the third quarter worth approximately $1,362,000. Marshall Wace LLP increased its position in Valens Semiconductor by 355.5% during the second quarter. Marshall Wace LLP now owns 87,461 shares of the company’s stock worth $279,000 after purchasing an additional 68,260 shares during the last quarter. Renaissance Technologies LLC increased its position in Valens Semiconductor by 23.3% during the second quarter. Renaissance Technologies LLC now owns 634,300 shares of the company’s stock worth $2,023,000 after purchasing an additional 119,900 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Valens Semiconductor during the second quarter worth approximately $401,000. Institutional investors and hedge funds own 33.90% of the company’s stock.

Valens Semiconductor Company Profile

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.