Valens Semiconductor (NYSE:VLN) Stock Price Up 5.2% – Should You Buy?

Valens Semiconductor Ltd. (NYSE:VLN) shares rose 5.2% during mid-day trading on Wednesday . The stock traded as high as $2.02 and last traded at $2.02. Approximately 184,305 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 304,610 shares. The stock had previously closed at $1.92.

Analysts Set New Price Targets

Separately, ThinkEquity upgraded Valens Semiconductor to a “strong-buy” rating in a report on Monday, December 2nd.

Valens Semiconductor Price Performance

The stock has a fifty day simple moving average of $1.95 and a 200-day simple moving average of $2.28. The company has a market capitalization of $214.89 million, a price-to-earnings ratio of -8.08 and a beta of 0.45.

Hedge Funds Weigh In On Valens Semiconductor

A number of hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its holdings in Valens Semiconductor by 23.3% during the second quarter. Renaissance Technologies LLC now owns 634,300 shares of the company’s stock valued at $2,023,000 after purchasing an additional 119,900 shares in the last quarter. ARK Investment Management LLC acquired a new position in shares of Valens Semiconductor during the 3rd quarter worth about $1,362,000. Acadian Asset Management LLC purchased a new position in Valens Semiconductor in the 2nd quarter valued at about $401,000. Finally, Marshall Wace LLP boosted its holdings in Valens Semiconductor by 355.5% in the 2nd quarter. Marshall Wace LLP now owns 87,461 shares of the company’s stock worth $279,000 after buying an additional 68,260 shares during the last quarter. Hedge funds and other institutional investors 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.