Renaissance Technologies LLC Purchases 119,900 Shares of Valens Semiconductor Ltd. (NYSE:VLN)

Renaissance Technologies LLC increased its position in Valens Semiconductor Ltd. (NYSE:VLN) by 23.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 634,300 shares of the company’s stock after acquiring an additional 119,900 shares during the period. Renaissance Technologies LLC’s holdings in Valens Semiconductor were worth $2,023,000 at the end of the most recent reporting period.

Separately, Oppenheimer & Co. Inc. lifted its position in shares of Valens Semiconductor by 14.6% in the first quarter. Oppenheimer & Co. Inc. now owns 154,795 shares of the company’s stock valued at $364,000 after acquiring an additional 19,727 shares in the last quarter. Institutional investors and hedge funds own 33.90% of the company’s stock.

Valens Semiconductor Stock Down 2.0 %

Shares of Valens Semiconductor stock opened at $2.01 on Thursday. The stock’s 50-day simple moving average is $2.19 and its 200-day simple moving average is $2.49. Valens Semiconductor Ltd. has a 52 week low of $1.83 and a 52 week high of $3.39. The company has a market capitalization of $209.36 million, a price-to-earnings ratio of -8.38 and a beta of 0.39.

Valens Semiconductor (NYSE:VLN) last posted its earnings results on Wednesday, August 7th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.03. The company had revenue of $13.60 million for the quarter, compared to the consensus estimate of $12.80 million. Valens Semiconductor had a negative return on equity of 17.06% and a negative net margin of 46.71%. On average, equities analysts expect that Valens Semiconductor Ltd. will post -0.37 earnings per share for the current year.

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.