Atika Capital Management LLC Purchases 23,400 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Atika Capital Management LLC boosted its holdings in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 2,600.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,300 shares of the company's stock after purchasing an additional 23,400 shares during the period. Atika Capital Management LLC's holdings in Astera Labs were worth $3,219,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Tidal Investments LLC lifted its stake in Astera Labs by 81.8% during the third 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 during the last quarter. Proficio Capital Partners LLC boosted its position in Astera Labs by 1.8% during the 4th quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company's stock worth $2,864,000 after acquiring an additional 390 shares during the period. State Street Corp grew its position in Astera Labs by 173.1% in the 3rd quarter. State Street Corp now owns 698,467 shares of the company's stock valued at $36,593,000 after buying an additional 442,698 shares in the last quarter. Peregrine Investment Management Inc. bought a new stake in Astera Labs during the fourth quarter worth approximately $10,701,000. Finally, Pier Capital LLC boosted its stake in Astera Labs by 187.2% during the third quarter. Pier Capital LLC now owns 82,916 shares of the company's stock valued at $4,344,000 after buying an additional 54,048 shares in the last quarter. Institutional investors and hedge funds own 60.47% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ALAB shares. Morgan Stanley decreased their price target on shares of Astera Labs from $142.00 to $114.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 28th. Stifel Nicolaus upped their price target on Astera Labs from $100.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Raymond James started coverage on Astera Labs in a research report on Friday, March 14th. They set an "outperform" rating and a $82.00 price objective for the company. Craig Hallum increased their price target on shares of Astera Labs from $105.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Finally, Northland Securities upgraded Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 target price on the stock in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Astera Labs presently has an average rating of "Buy" and a consensus target price of $112.77.

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Astera Labs Price Performance

Shares of Astera Labs stock traded up $0.47 during midday trading on Friday, hitting $59.33. The company had a trading volume of 1,805,592 shares, compared to its average volume of 3,762,696. The business's 50 day simple moving average is $74.30 and its two-hundred day simple moving average is $90.83. The stock has a market cap of $9.62 billion and a PE ratio of -34.48. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. On average, sell-side analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Insider Activity

In other Astera Labs news, CFO Michael Truett Tate sold 34,474 shares of Astera Labs stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total value of $3,174,021.18. Following the completion of the transaction, the chief financial officer now owns 244,242 shares in the company, valued at approximately $22,487,360.94. The trade was a 12.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Philip Mazzara sold 7,536 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total value of $693,839.52. Following the sale, the general counsel now owns 241,209 shares in the company, valued at $22,208,112.63. The trade was a 3.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 633,990 shares of company stock worth $54,235,012.

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.