Lisanti Capital Growth LLC Grows Stock Position in Astera Labs, Inc. (NASDAQ:ALAB)

Lisanti Capital Growth LLC lifted its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 31.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 78,830 shares of the company's stock after acquiring an additional 18,840 shares during the period. Astera Labs makes up 2.5% of Lisanti Capital Growth LLC's holdings, making the stock its 2nd biggest holding. Lisanti Capital Growth LLC's holdings in Astera Labs were worth $10,441,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Tidal Investments LLC increased its holdings in Astera Labs by 81.8% during the 3rd quarter. Tidal Investments LLC now owns 45,298 shares of the company's stock worth $2,373,000 after purchasing an additional 20,388 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Astera Labs during the 3rd quarter valued at $530,000. Avior Wealth Management LLC purchased a new position in Astera Labs during the 3rd quarter worth $361,000. Maverick Capital Ltd. grew its stake in shares of Astera Labs by 16.0% in the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company's stock worth $60,575,000 after acquiring an additional 159,480 shares in the last quarter. Finally, Bank of Hawaii purchased a new stake in shares of Astera Labs in the third quarter valued at about $1,409,000. Institutional investors and hedge funds own 60.47% of the company's stock.

Insider Transactions at Astera Labs

In related news, CFO Michael Truett Tate sold 125,800 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total value of $10,382,274.00. Following the transaction, the chief financial officer now owns 244,242 shares in the company, valued at $20,157,292.26. The trade was a 34.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jitendra Mohan sold 350,680 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the sale, the chief executive officer now owns 2,353,655 shares of the company's stock, valued at approximately $210,675,659.05. This represents a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 570,990 shares of company stock valued at $50,242,702.

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Astera Labs Price Performance

NASDAQ ALAB traded up $4.35 during trading hours on Tuesday, reaching $66.05. 5,637,935 shares of the company's stock traded hands, compared to its average volume of 3,802,685. The firm has a market cap of $10.71 billion and a PE ratio of -38.18. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39. The firm has a 50-day simple moving average of $102.97 and a 200 day simple moving average of $87.93.

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ALAB. Needham & Company LLC restated a "buy" rating and set a $140.00 price target on shares of Astera Labs in a report on Tuesday, February 11th. Barclays boosted their target price on Astera Labs from $87.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Craig Hallum lifted their price objective on Astera Labs from $105.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Citigroup assumed coverage on shares of Astera Labs in a report on Monday, November 18th. They set a "buy" rating and a $120.00 price objective on the stock. Finally, Northland Securities upgraded shares of Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 target price for the company in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $115.33.

Astera Labs Profile

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.