The short-term stake in Valens Semiconductor Ltd. (NYSE: VLN) rises 86.7%

Valens Semiconductor Ltd. (NYSE: VLN- Get a rating) benefited from significant growth in short-term interest during the month of June. As of June 30, there were short interests totaling 90,000 shares, an 86.7% growth from the total of 48,200 shares as of June 15. Approximately 0.2% of the company’s shares are sold short. Based on an average daily volume of 100,900 shares, the short interest ratio is currently 0.9 days.

Institutional entries and exits

Institutional investors and hedge funds have recently changed their positions in the company. Oppenheimer & Co. Inc. bought a new stock position in Valens Semiconductor in the fourth quarter worth $438,000. Goldman Sachs Group Inc. increased its stake in shares of Valens Semiconductor by 671.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,896,503 shares of the company valued at $37,703,000 after purchasing an additional 4,261,995 shares during the period. Finally, Magma Venture Partners General Partner Ltd. bought a new position in shares of Valens Semiconductor in the fourth quarter worth $147,382,000. 51.25% of the shares are currently held by hedge funds and other institutional investors.

Valens Semiconductor Price Performance

VLN lost $0.01 during Friday’s trading, hitting $3.85. 37,939 shares of the company were traded, against an average volume of 96,708. Valens Semiconductor has a 1-year low of $2.71 and a 1-year high of $12.19. The stock has a 50-day moving average price of $3.30 and a 200-day moving average price of $4.98.

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Valens Semiconductor (NYSE: VLN – Get a rating) last released its quarterly earnings data on Wednesday, May 11. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.07. The company posted revenue of $21.62 million for the quarter, compared to $20.80 million expected by analysts. On average, analysts expect Valens Semiconductor to post -0.45 earnings per share for the current year.

Analyst upgrades and downgrades

Separately, Bank of America lowered its price target on Valens Semiconductor shares from $8.50 to $5.00 and set a “buy” rating for the company in a Wednesday, June 29 research report. Six research analysts rated the stock with a buy rating. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $12.00.

About Valens Semiconductor

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Valens Semiconductor Ltd. engages in the supply of semiconductor products that enable high-speed video and data transmission for the audio-video and automotive industries. It offers HDBaseT technology, which enables the simultaneous streaming of ultra-high definition digital video and audio, Ethernet, USB, control signals and power over a single long-range cable.

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