Valens Semiconductor initiated with a Buy at Needham

Needham initiated coverage of Valens Semiconductor (VLN) with a Buy rating and $54 price target In Pro Audio-Video, Valens dominates the high-end of the market with its HDBaseT solutions and is expanding into the mainstream segment with USB 3.2, while in Automotive, three new MIPI A-PHY design wins should ramp in 2026, the analyst tells investors in a research note. The firm says AI robotics and machine vision are catalysts driving adoption in the Industrial and Medical segments longer-term, and says Valens products will address a total addressable market of more than $5B by 2028, up from $2.6B today.