Citigroup Maintains Buy Rating for Valens Semiconductor: Here's What You Need To Know

Citigroup has decided to maintain its Buy rating of Valens Semiconductor VLN and lower its price target from $7.00 to $6.00.

Shares of Valens Semiconductor are trading down 3.43% over the last 24 hours, at $3.94 per share.

A move to $6.00 would account for a 52.28% increase from the current share price.

About Valens Semiconductor

Valens Semiconductor Ltd is a provider of semiconductor products, pushing the boundaries of connectivity by enabling long-reach, high-speed video, and data transmission for the audio-video and automotive industries. It operates in two segments: Audio-Video, which includes the company's HDBaseT solutions for the Audio-Video market deliver superior, plug-and-play convergence and distribution of different interfaces, through a single long-distance category cable; and Automotive segment products enable safe and resilient high-speed in-vehicle connectivity for car architectures, realizing the vision of connected and autonomous cars. The company's geographical segments include Israel, China, Hong Kong, the United States, Mexico, Japan, and Others.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.