ARK Investment Management LLC purchased a new stake in Valens Semiconductor Ltd. (NYSE:VLN - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 619,309 shares of the company's stock, valued at approximately $1,362,000. ARK Investment Management LLC owned approximately 0.58% of Valens Semiconductor as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Oppenheimer & Co. Inc. lifted its stake in Valens Semiconductor by 14.6% in the 1st quarter. Oppenheimer & Co. Inc. now owns 154,795 shares of the company's stock valued at $364,000 after buying an additional 19,727 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Valens Semiconductor in the second quarter worth $401,000. Renaissance Technologies LLC lifted its position in shares of Valens Semiconductor by 23.3% in the second quarter. Renaissance Technologies LLC now owns 634,300 shares of the company's stock valued at $2,023,000 after acquiring an additional 119,900 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Valens Semiconductor by 355.5% during the second quarter. Marshall Wace LLP now owns 87,461 shares of the company's stock valued at $279,000 after acquiring an additional 68,260 shares during the last quarter. 33.90% of the stock is currently owned by hedge funds and other institutional investors.
Valens Semiconductor Stock Performance
VLN stock traded down $0.06 during trading on Friday, hitting $1.89. The stock had a trading volume of 222,689 shares, compared to its average volume of 261,902. The stock has a market cap of $201.06 million, a price-to-earnings ratio of -7.56 and a beta of 0.42. The company's 50 day moving average price is $2.01 and its two-hundred day moving average price is $2.42. Valens Semiconductor Ltd. has a 1-year low of $1.67 and a 1-year high of $3.39.
Valens Semiconductor (NYSE:VLN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.08) earnings per share for the quarter, beating analysts' consensus estimates of ($0.11) by $0.03. The business had revenue of $13.60 million during the quarter, compared to analyst estimates of $12.80 million. Valens Semiconductor had a negative net margin of 41.94% and a negative return on equity of 13.79%. As a group, sell-side analysts forecast that Valens Semiconductor Ltd. will post -0.37 earnings per share for the current fiscal year.
About Valens Semiconductor
(
Free Report)
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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