Cubist Systematic Strategies LLC Takes Position in Valens Semiconductor Ltd. (NYSE:VLN)

Cubist Systematic Strategies LLC purchased a new stake in shares of Valens Semiconductor Ltd. (NYSE:VLN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 23,483 shares of the company’s stock, valued at approximately $61,000.

A number of other institutional investors and hedge funds have also modified their holdings of VLN. Oppenheimer & Co. Inc. grew its holdings in shares of Valens Semiconductor by 24.1% during the fourth quarter. Oppenheimer & Co. Inc. now owns 273,797 shares of the company’s stock valued at $712,000 after buying an additional 53,155 shares in the last quarter. IGP Investments G.P.L.P LP purchased a new position in shares of Valens Semiconductor during the fourth quarter valued at $8,996,000. Value Base Ltd. purchased a new position in shares of Valens Semiconductor during the fourth quarter valued at $53,672,000. Brown Brothers Harriman & Co. purchased a new position in shares of Valens Semiconductor during the fourth quarter valued at $109,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Valens Semiconductor by 41.4% during the fourth quarter. Renaissance Technologies LLC now owns 1,001,930 shares of the company’s stock valued at $2,605,000 after buying an additional 293,230 shares in the last quarter. Hedge funds and other institutional investors own 33.90% of the company’s stock.

Valens Semiconductor Trading Down 1.2%

VLN opened at $2.45 on Tuesday. The stock has a market cap of $260.54 million, a price-to-earnings ratio of -9.80 and a beta of 0.28. Valens Semiconductor Ltd. has a 1 year low of $1.67 and a 1 year high of $3.50. The stock has a fifty day moving average price of $2.27 and a 200 day moving average price of $2.32.

Valens Semiconductor (NYSE:VLN) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.04). The firm had revenue of $16.83 million for the quarter, compared to analyst estimates of $16.48 million. Valens Semiconductor had a negative net margin of 41.94% and a negative return on equity of 14.05%. As a group, sell-side analysts forecast that Valens Semiconductor Ltd. will post -0.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reiterated a “buy” rating and set a $4.00 price target on shares of Valens Semiconductor in a report on Thursday, May 8th.

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.