Needham & Company LLC Cuts Valens Semiconductor (NYSE:VLN) Price Target to $3.00

Valens Semiconductor (NYSE:VLN) had its price target trimmed by Needham & Company LLC from $4.00 to $3.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Valens Semiconductor in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Valens Semiconductor currently has an average rating of “Moderate Buy” and a consensus price target of $3.00.

Valens Semiconductor Price Performance

Valens Semiconductor stock opened at $1.74 on Thursday. The firm has a market capitalization of $178.53 million, a price-to-earnings ratio of -6.01 and a beta of 0.25. The company’s 50 day simple moving average is $1.80 and its 200 day simple moving average is $2.17. Valens Semiconductor has a fifty-two week low of $1.49 and a fifty-two week high of $3.50.

Hedge Funds Weigh In On Valens Semiconductor

Large investors have recently modified their holdings of the business. St. Louis Trust Co bought a new position in Valens Semiconductor in the first quarter valued at approximately $120,000. ARK Investment Management LLC bought a new position in shares of Valens Semiconductor in the first quarter valued at about $1,158,000. XTX Topco Ltd lifted its position in Valens Semiconductor by 100.8% during the first quarter. XTX Topco Ltd now owns 138,229 shares of the company’s stock worth $282,000 after acquiring an additional 69,389 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Valens Semiconductor by 21.0% in the first quarter. Acadian Asset Management LLC now owns 671,323 shares of the company’s stock valued at $1,360,000 after purchasing an additional 116,407 shares during the last quarter. Finally, Creative Planning bought a new stake in Valens Semiconductor in the 2nd quarter valued at $213,000. 33.90% of the stock is currently owned by institutional investors and hedge funds.

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.