Valens Semiconductor Ltd. (NYSE:VLN) Shares Bought by Millennium Management LLC

Millennium Management LLC grew its stake in Valens Semiconductor Ltd. (NYSE:VLN) by 389.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 614,577 shares of the company’s stock after purchasing an additional 489,108 shares during the period. Millennium Management LLC owned approximately 0.58% of Valens Semiconductor worth $1,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in VLN. Value Base Ltd. purchased a new stake in Valens Semiconductor in the 4th quarter valued at $53,672,000. IGP Investments G.P.L.P LP purchased a new stake in shares of Valens Semiconductor in the fourth quarter valued at about $8,996,000. Ameriprise Financial Inc. grew its stake in shares of Valens Semiconductor by 0.3% in the 4th quarter. Ameriprise Financial Inc. now owns 1,421,482 shares of the company’s stock valued at $3,696,000 after buying an additional 4,100 shares during the period. Renaissance Technologies LLC grew its stake in shares of Valens Semiconductor by 41.4% in the 4th 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 during the period. Finally, Walleye Capital LLC grew its stake in shares of Valens Semiconductor by 86.3% in the 4th quarter. Walleye Capital LLC now owns 322,993 shares of the company’s stock valued at $840,000 after buying an additional 149,642 shares during the period. 33.90% of the stock is currently owned by hedge funds and other institutional investors.

Valens Semiconductor Stock Performance

NYSE:VLN opened at $2.20 on Wednesday. Valens Semiconductor Ltd. has a fifty-two week low of $1.67 and a fifty-two week high of $3.50. The company has a 50 day moving average price of $2.30 and a 200 day moving average price of $2.35. The stock has a market capitalization of $233.42 million, a P/E ratio of -8.78 and a beta of 0.28.

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

Wall Street Analyst Weigh In

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.