Valens Semiconductor Ltd. (NYSE:VLN) sees significant increase in short-term interest

Valens Semiconductor Ltd. (NYSE: VLN- Get a rating) benefited from strong growth in short-term interest rates in May. As of May 15, there was short interest totaling 64,700 shares, up 54.8% from the total of 41,800 shares as of April 30. Based on an average daily trading volume of 63,900 shares, the short-term interest rate ratio is currently 1.0 day. Approximately 0.2% of the company’s shares are sold short.

A number of institutional investors have recently bought and sold shares of VLN. Magma Venture Partners General Partner Ltd. acquired a new stake in shares of Valens Semiconductor in Q4 for a value of approximately $147,382,000. Goldman Sachs Group Inc. increased its stake in shares of Valens Semiconductor by 1.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 645,299 shares of the company worth $4,969,000 after acquiring an additional 10,791 shares during the period. Jane Street Group LLC acquired a new stake in shares of Valens Semiconductor in Q3 worth approximately $318,000. Citigroup Inc. acquired a new stake in shares of Valens Semiconductor in Q4 worth approximately $66,000. Finally, Penserra Capital Management LLC acquired a new equity stake in Valens Semiconductor in Q4 worth approximately $48,000. 51.25% of the shares are held by hedge funds and other institutional investors.

Separately, Citigroup lowered its price target on Valens Semiconductor shares from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, March 3. One analyst rated the stock with a sell rating and six rated the stock with a buy rating. Based on data from MarketBeat.com, Valens Semiconductor has a consensus rating of “Buy” and an average price target of $13.17.

Shares of NYSE VLN traded down $0.01 in the midday session on Friday, hitting $2.81. The company’s stock had a trading volume of 121,772 shares, compared to an average volume of 104,069. Valens Semiconductor has a 1-year low of $2.72 and a 1-year high of $12.19. The company’s fifty-day moving average price is $4.28 and its 200-day moving average price is $6.21.

Valens Semiconductor (NYSE: VLN – Get a rating) last reported results on Wednesday, March 2. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analyst consensus estimates of ($0.04) by ($0.04). The company posted revenue of $20.74 million for the quarter, versus $20.00 million expected by analysts. Stock analysts expect Valens Semiconductor to post -0.35 earnings per share for the current year.

About Valens Semiconductor (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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