Needham & Company LLC Issues Pessimistic Forecast for Valens Semiconductor (NYSE:VLN) Stock Price

Valens Semiconductor (NYSE:VLN) had its target price reduced by analysts at Needham & Company LLC from $4.00 to $3.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price suggests a potential upside of 76.99% from the stock’s current price.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Valens Semiconductor in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Valens Semiconductor currently has an average rating of “Moderate Buy” and a consensus target price of $3.00.

Valens Semiconductor Trading Down 0.3%

VLN stock traded down $0.01 during midday trading on Thursday, hitting $1.70. The company’s stock had a trading volume of 316,783 shares, compared to its average volume of 596,211. The company has a market cap of $180.25 million, a PE ratio of -5.30 and a beta of 0.25. The firm’s 50-day moving average is $1.80 and its 200-day moving average is $2.18. Valens Semiconductor has a 12 month low of $1.49 and a 12 month high of $3.50.

Hedge Funds Weigh In On Valens Semiconductor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VLN. St. Louis Trust Co purchased a new position in shares of Valens Semiconductor during the first quarter valued at approximately $120,000. Creative Planning purchased a new stake in shares of Valens Semiconductor during the second quarter worth about $213,000. JPMorgan Chase & Co. increased its stake in Valens Semiconductor by 417.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 86,081 shares of the company’s stock valued at $226,000 after purchasing an additional 69,439 shares in the last quarter. XTX Topco Ltd raised its stake in Valens Semiconductor by 100.8% in 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 last quarter. Finally, Oppenheimer & Co. Inc. lifted its holdings in shares of Valens Semiconductor by 116.4% during the third quarter. Oppenheimer & Co. Inc. now owns 541,148 shares of the company’s stock worth $969,000 after purchasing an additional 291,076 shares during the period. 33.90% of the stock is owned by institutional investors.

About Valens Semiconductor

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.