Valens Semiconductor Ltd. (NYSE:VLN) Short Interest Down 75.7% in July

Valens Semiconductor Ltd. (NYSE:VLNGet Rating) saw a large decline in short interest in the month of July. As of July 15th, there was short interest totalling 21,900 shares, a decline of 75.7% from the June 30th total of 90,000 shares. Based on an average daily volume of 100,600 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the shares of the company are sold short.

Hedge Funds Weigh In On Valens Semiconductor

Several hedge funds and other institutional investors have recently modified their holdings of the company. Oppenheimer & Co. Inc. purchased a new position in shares of Valens Semiconductor during the fourth quarter valued at about $438,000. Goldman Sachs Group Inc. grew its holdings in Valens Semiconductor by 671.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,896,503 shares of the company’s stock worth $37,703,000 after purchasing an additional 4,261,995 shares during the period. Finally, Magma Venture Partners General Partner Ltd. purchased a new stake in Valens Semiconductor in the fourth quarter worth about $147,382,000. 51.25% of the stock is owned by institutional investors.

Valens Semiconductor Stock Performance

Shares of NYSE VLN traded down $0.12 during mid-day trading on Thursday, reaching $3.62. 310 shares of the company were exchanged, compared to its average volume of 68,219. Valens Semiconductor has a 52 week low of $2.71 and a 52 week high of $12.19. The company’s 50 day moving average price is $3.37 and its 200 day moving average price is $4.78.

Valens Semiconductor (NYSE:VLNGet Rating) last posted its quarterly earnings data on Wednesday, May 11th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.07. The company had revenue of $21.62 million for the quarter, compared to the consensus estimate of $20.80 million. As a group, equities research analysts predict that Valens Semiconductor will post -0.45 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Bank of America reduced their price objective on shares of Valens Semiconductor from $8.50 to $5.00 and set a “buy” rating for the company in a research note on Wednesday, June 29th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Valens Semiconductor currently has an average rating of “Buy” and an average target price of $12.00.

About Valens Semiconductor

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Valens Semiconductor Ltd. engages in the provision of semiconductor products that enables high-speed video and data transmission for the audio-video and automotive industries. It 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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