Aigen Investment Management LP Makes New Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Aigen Investment Management LP purchased a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,875 shares of the company's stock, valued at approximately $1,573,000.

Several other hedge funds also recently bought and sold shares of ALAB. Hollencrest Capital Management purchased a new stake in shares of Astera Labs in the third quarter valued at $26,000. Steward Partners Investment Advisory LLC grew its position in shares of Astera Labs by 99.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock valued at $26,000 after purchasing an additional 99 shares during the period. Kestra Investment Management LLC purchased a new stake in shares of Astera Labs in the fourth quarter valued at $28,000. Geneos Wealth Management Inc. purchased a new stake in shares of Astera Labs in the fourth quarter valued at $36,000. Finally, Global Retirement Partners LLC grew its position in shares of Astera Labs by 3,155.6% in the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock valued at $39,000 after purchasing an additional 284 shares during the period. Hedge funds and other institutional investors own 60.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Morgan Stanley lowered their price objective on Astera Labs from $142.00 to $114.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 28th. Northland Securities raised Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price objective for the company in a research report on Tuesday, January 28th. Stifel Nicolaus lifted their target price on Astera Labs from $100.00 to $150.00 and gave the company a "buy" rating in a report on Monday, January 6th. Northland Capmk upgraded Astera Labs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 28th. Finally, Barclays lifted their target price on Astera Labs from $87.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, January 17th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $115.33.

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Insider Transactions at Astera Labs

In related news, General Counsel Philip Mazzara sold 7,536 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total value of $693,839.52. Following the completion of the transaction, the general counsel now owns 241,209 shares of the company's stock, valued at approximately $22,208,112.63. This represents a 3.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael E. Hurlston sold 2,500 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total value of $230,200.00. Following the completion of the transaction, the director now directly owns 91,794 shares of the company's stock, valued at $8,452,391.52. This represents a 2.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 570,990 shares of company stock valued at $50,242,702 over the last quarter.

Astera Labs Stock Up 5.4 %

Shares of NASDAQ ALAB traded up $3.43 on Friday, hitting $66.92. The company had a trading volume of 5,816,103 shares, compared to its average volume of 3,790,088. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39. The business has a 50 day moving average of $104.47 and a two-hundred day moving average of $87.44. The firm has a market capitalization of $10.85 billion and a P/E ratio of -38.68.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its earnings results on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. On average, sell-side analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

About Astera Labs

Astera Labs, Inc designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure. Its Intelligent Connectivity Platform is comprised of a portfolio of data, network, and memory connectivity products, which are built on a unifying software-defined architecture that enables customers to deploy and operate high performance cloud and AI infrastructure at scale.