10 Best Semiconductor Penny Stocks To Invest In Right Now

4. Valens Semiconductor Ltd. (NYSE:VLN)

Number of Hedge Fund Holders In Q3 2024: 12

Valens Semiconductor Ltd. (NYSE:VLN) is an Israeli semiconductor company that provides chips for autonomous driving, cables for long-distance video transmission, and other associated technologies. The fact that its shares are down 22.9% year-to-date is unsurprising given that for the first six months of 2024, Valens Semiconductor Ltd. (NYSE:VLN)’s revenue has dropped by 48%. This has come on the back of economic troubles in China and Europe, as the firm’s products are dependent on the health of the electric vehicle industry and consumer spending. During H1 2023, 49% of Valens Semiconductor Ltd. (NYSE:VLN)’s revenue came from Germany, China, and Hungary. In H1 2024, the firm’s sales in the three respective countries dropped by 75%, 27%, and 53%, respectively. As a result, economic recovery in these three countries is key to Valens Semiconductor Ltd. (NYSE:VLN)’s hypothesis, especially since 63% of its H1 2024 revenue was pending in the form of receivables from six customers.