Ergoteles LLC Acquires Shares of 31,400 Valens Semiconductor Ltd. (NYSE:VLN)

Ergoteles LLC purchased a new stake in shares of Valens Semiconductor Ltd. (NYSE:VLN – Get Rating) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 31,400 shares of the company’s stock, valued at approximately $132,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Herald Investment Management Ltd bought a new position in shares of Valens Semiconductor during the third quarter valued at $1,430,000. Oppenheimer & Co. Inc. increased its holdings in shares of Valens Semiconductor by 62.4% during the second quarter. Oppenheimer & Co. Inc. now owns 149,510 shares of the company’s stock valued at $520,000 after acquiring an additional 57,430 shares in the last quarter. Phoenix Holdings Ltd. increased its holdings in shares of Valens Semiconductor by 100.0% during the third quarter. Phoenix Holdings Ltd. now owns 134,714 shares of the company’s stock valued at $564,000 after acquiring an additional 67,357 shares in the last quarter. Barclays PLC bought a new position in shares of Valens Semiconductor during the third quarter valued at $532,000. Finally, Renaissance Technologies LLC bought a new position in shares of Valens Semiconductor during the second quarter valued at $375,000. 27.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Citigroup reduced their price target on Valens Semiconductor from $8.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, November 16th. Oppenheimer reduced their price objective on Valens Semiconductor from $10.00 to $8.00 in a report on Wednesday, November 9th. Chardan Capital reiterated a “buy” rating and issued a $13.00 price objective on shares of Valens Semiconductor in a report on Friday, March 3rd. Finally, TheStreet upgraded Valens Semiconductor from a “d+” rating to a “c-” rating in a report on Wednesday, March 1st.

Valens Semiconductor Stock Down 1.4 %

Valens Semiconductor stock opened at $4.08 on Wednesday. The business has a 50-day simple moving average of $5.06 and a two-hundred day simple moving average of $4.50. The company has a market cap of $403.43 million, a P/E ratio of -15.11 and a beta of 0.23. Valens Semiconductor Ltd. has a 52-week low of $2.71 and a 52-week high of $7.05.

Valens Semiconductor Profile

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Valens Semiconductor Ltd. engages in the provision of semiconductor products that enables high-speed video and data transmission for the audio-video and automotive industries. It 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.