Needham & Company LLC Initiates Coverage on Valens Semiconductor (NYSE:VLN)

Equities research analysts at Needham & Company LLC started coverage on shares of Valens Semiconductor (NYSE:VLN) in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage set a “buy” rating and a $4.00 price target on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 87.44% from the stock’s current price.

Valens Semiconductor Stock Up 6.7 %

NYSE VLN opened at $2.13 on Friday. The business’s fifty day simple moving average is $2.19 and its 200-day simple moving average is $2.23. The firm has a market cap of $226.93 million, a PE ratio of -8.54 and a beta of 0.33. Valens Semiconductor has a 52 week low of $1.67 and a 52 week high of $3.50.

Institutional Trading of Valens Semiconductor

Several institutional investors have recently made changes to their positions in VLN. State of Tennessee Department of Treasury purchased a new stake in Valens Semiconductor in the fourth quarter valued at $35,000. Occudo Quantitative Strategies LP purchased a new stake in Valens Semiconductor in the 4th quarter valued at about $40,000. Wolverine Trading LLC acquired a new position in Valens Semiconductor in the fourth quarter valued at about $43,000. Two Sigma Securities LLC boosted its stake in Valens Semiconductor by 35.3% during the fourth quarter. Two Sigma Securities LLC now owns 18,541 shares of the company’s stock worth $48,000 after buying an additional 4,838 shares during the period. Finally, Jane Street Group LLC acquired a new stake in shares of Valens Semiconductor during the fourth quarter valued at about $52,000. 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.