Valens Semiconductor (NYSE:VLN) Receives “Buy” Rating from Chardan Capital

Valens Semiconductor (NYSE:VLN)‘s stock had its “buy” rating reiterated by analysts at Chardan Capital in a note issued to investors on Thursday, Benzinga reports. They currently have a $4.00 price objective on the stock. Chardan Capital’s target price indicates a potential upside of 68.78% from the company’s current price.

Valens Semiconductor Price Performance

Shares of Valens Semiconductor stock opened at $2.37 on Thursday. Valens Semiconductor has a 1 year low of $1.91 and a 1 year high of $2.78. The company has a market capitalization of $246.86 million, a price-to-earnings ratio of -12.95 and a beta of 0.30. The business has a fifty day simple moving average of $2.30 and a two-hundred day simple moving average of $2.29.

Valens Semiconductor (NYSE:VLN) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.07. Valens Semiconductor had a negative return on equity of 12.05% and a negative net margin of 23.36%. The firm had revenue of $21.94 million for the quarter, compared to analysts’ expectations of $21.80 million. As a group, equities analysts anticipate that Valens Semiconductor will post -0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Valens Semiconductor

A number of hedge funds have recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. grew its holdings in shares of Valens Semiconductor by 14.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 154,795 shares of the company’s stock worth $364,000 after purchasing an additional 19,727 shares in the last quarter. IGP Investments G.P.L.P LP acquired a new position in shares of Valens Semiconductor in the 4th quarter valued at approximately $8,550,000. AI Squared Management Ltd bought a new stake in shares of Valens Semiconductor during the 4th quarter worth approximately $2,044,000. Phoenix Holdings Ltd. boosted its position in shares of Valens Semiconductor by 347.2% during the 3rd quarter. Phoenix Holdings Ltd. now owns 1,506,171 shares of the company’s stock worth $4,006,000 after acquiring an additional 1,169,386 shares in the last quarter. Finally, Herald Investment Management Ltd increased its stake in Valens Semiconductor by 16.0% in the third quarter. Herald Investment Management Ltd now owns 998,963 shares of the company’s stock valued at $2,657,000 after acquiring an additional 137,826 shares during the last quarter. Institutional investors own 33.90% of the company’s stock.

About Valens Semiconductor

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.