Valens Semiconductor (NYSE:VLN) Rating Increased to Strong-Buy at ThinkEquity

Valens Semiconductor (NYSE:VLN) was upgraded by research analysts at ThinkEquity to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Valens Semiconductor Stock Performance

VLN opened at $2.26 on Monday. The firm has a 50 day moving average price of $1.97 and a 200 day moving average price of $2.36. The company has a market cap of $239.89 million, a PE ratio of -9.02 and a beta of 0.45. Valens Semiconductor has a 1 year low of $1.67 and a 1 year high of $3.39.

Hedge Funds Weigh In On Valens Semiconductor

Several institutional investors and hedge funds have recently made changes to their positions in VLN. Marshall Wace LLP boosted its stake in shares of Valens Semiconductor by 355.5% during the 2nd quarter. Marshall Wace LLP now owns 87,461 shares of the company’s stock valued at $279,000 after buying an additional 68,260 shares during the last quarter. Acadian Asset Management LLC bought a new position in Valens Semiconductor during the second quarter worth $401,000. ARK Investment Management LLC bought a new position in Valens Semiconductor during the third quarter worth $1,362,000. Finally, Renaissance Technologies LLC lifted its stake in Valens Semiconductor by 23.3% during the second quarter. Renaissance Technologies LLC now owns 634,300 shares of the company’s stock worth $2,023,000 after purchasing an additional 119,900 shares during the last quarter. 33.90% of the stock is currently owned by hedge funds and other institutional investors.

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.