Kennedy Capital Management LLC Decreases Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

Kennedy Capital Management LLC lessened its holdings in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 27.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 111,019 shares of the company's stock after selling 42,412 shares during the quarter. Kennedy Capital Management LLC owned approximately 0.07% of Astera Labs worth $14,704,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Treasurer of the State of North Carolina boosted its holdings in shares of Astera Labs by 393.8% in the fourth quarter. Treasurer of the State of North Carolina now owns 47,550 shares of the company's stock valued at $6,298,000 after purchasing an additional 37,920 shares during the period. F M Investments LLC bought a new position in shares of Astera Labs during the 4th quarter worth $3,000,000. Bessemer Group Inc. purchased a new position in shares of Astera Labs during the fourth quarter valued at $132,000. Raymond James Financial Inc. purchased a new stake in Astera Labs in the fourth quarter worth about $35,100,000. Finally, Greenland Capital Management LP purchased a new stake in Astera Labs in the fourth quarter worth about $421,000. Hedge funds and other institutional investors own 60.47% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ALAB. Stifel Nicolaus boosted their price target on shares of Astera Labs from $100.00 to $150.00 and gave the company a "buy" rating in a report on Monday, January 6th. Northland Securities raised shares of Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price objective for the company in a research note on Tuesday, January 28th. Barclays increased their target price on Astera Labs from $87.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, January 17th. Northland Capmk upgraded Astera Labs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 28th. Finally, Citigroup decreased their price objective on Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Monday. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Astera Labs presently has a consensus rating of "Buy" and a consensus price target of $111.23.

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Insiders Place Their Bets

In other news, Director Manuel Alba sold 63,000 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the sale, the director now directly owns 444,863 shares in the company, valued at $28,190,968.31. This trade represents a 12.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jitendra Mohan sold 350,680 shares of Astera Labs stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total value of $31,389,366.80. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 633,990 shares of company stock worth $54,235,012.

Astera Labs Stock Up 0.8 %

Shares of ALAB traded up $0.47 during trading hours on Tuesday, reaching $59.88. 1,235,898 shares of the company traded hands, compared to its average volume of 3,778,471. The business has a fifty day moving average price of $72.52 and a 200-day moving average price of $91.18. The stock has a market capitalization of $9.71 billion and a P/E ratio of -34.61. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued 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 return on equity of 10.40% and a negative net margin of 21.05%. As a group, research analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Astera Labs Company 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.