Valens Semiconductor Ltd. (NYSE:VLN) sees sharp decline in short-term interest

Valens Semiconductor Ltd. (NYSE: VLN- Get a rating) recorded a significant decline in short interest in June. As of June 15, there was selling interest totaling 48,200 shares, down 24.3% from the May 31 total of 63,700 shares. Based on an average daily volume of 97,500 shares, the day-to-cover ratio is currently 0.5 days. Approximately 0.1% of the company’s shares are sold short.

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

Shares of VLN fell $0.03 on Monday, hitting $3.45. The company’s stock had a trading volume of 421 shares, compared to its average volume of 66,710. The stock’s 50-day moving average is $3.27 and its 200-day moving average is 5 $.22. Valens Semiconductor has a fifty-two-week low of $2.71 and a fifty-two-week high of $12.19.

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

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A number of institutional investors have recently changed their positions in VLN. Oppenheimer & Co. Inc. acquired a new stake in Valens Semiconductor during the fourth quarter valued at approximately $438,000. Goldman Sachs Group Inc. increased its stake in Valens Semiconductor by 671.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,896,503 shares of the company worth $37,703,000 after buying an additional 4,261,995 shares last quarter. Linse Capital LLC acquired a new stake in Valens Semiconductor during the fourth quarter valued at approximately $86,168,000. Finally, Magma Venture Partners General Partner Ltd. acquired a new stake in Valens Semiconductor during the fourth quarter worth approximately $147,382,000. Hedge funds and other institutional investors own 51.25% of the company’s shares.

Valens Semiconductor Company Profile (Get a rating)

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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