ARK Investment Management LLC grew its holdings in Valens Semiconductor, Ltd. (NYSE:VLN – Free Report) by 23.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 700,342 shares of the company’s stock after acquiring an additional 132,589 shares during the quarter. ARK Investment Management LLC owned about 0.66% of Valens Semiconductor worth $1,842,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. St. Louis Trust Co acquired a new stake in shares of Valens Semiconductor in the 1st quarter valued at about $120,000. XTX Topco Ltd lifted its position in Valens Semiconductor by 100.8% during the 1st quarter. XTX Topco Ltd now owns 138,229 shares of the company’s stock worth $282,000 after acquiring an additional 69,389 shares during the period. Oppenheimer & Co. Inc. lifted its position in Valens Semiconductor by 3.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 284,608 shares of the company’s stock worth $581,000 after acquiring an additional 10,811 shares during the period. Finally, Acadian Asset Management LLC lifted its position in Valens Semiconductor by 21.0% during the 1st quarter. Acadian Asset Management LLC now owns 671,323 shares of the company’s stock worth $1,360,000 after acquiring an additional 116,407 shares during the period. Hedge funds and other institutional investors own 33.90% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Valens Semiconductor in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Valens Semiconductor has a consensus rating of “Moderate Buy” and a consensus target price of $4.00.
Valens Semiconductor Trading Down 2.5%
Shares of VLN stock opened at $1.73 on Thursday. Valens Semiconductor, Ltd. has a 12-month low of $1.67 and a 12-month high of $3.50. The company has a market cap of $183.44 million, a price-to-earnings ratio of -5.39 and a beta of 0.24. The stock has a 50 day simple moving average of $1.92 and a 200-day simple moving average of $2.23.
Valens Semiconductor 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.
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