AXQ Capital LP Takes Position in Astera Labs, Inc. (NASDAQ:ALAB)

AXQ Capital LP bought a new stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 6,921 shares of the company's stock, valued at approximately $917,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Astera Labs in the fourth quarter valued at $25,000. Steward Partners Investment Advisory LLC raised its holdings in shares of Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock worth $26,000 after acquiring an additional 99 shares during the last quarter. Kestra Investment Management LLC bought a new position in Astera Labs in the 4th quarter valued at about $28,000. Geneos Wealth Management Inc. acquired a new position in Astera Labs during the 4th quarter valued at about $36,000. Finally, Global Retirement Partners LLC increased its holdings in Astera Labs by 3,155.6% during the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock worth $39,000 after purchasing an additional 284 shares in the last quarter. 60.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ALAB shares. Raymond James assumed coverage on Astera Labs in a report on Friday, March 14th. They issued an "outperform" rating and a $82.00 target price on the stock. Northland Securities raised shares of Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price objective on the stock in a report on Tuesday, January 28th. Craig Hallum increased their target price on shares of Astera Labs from $105.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Northland Capmk raised shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 28th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $140.00 price objective on shares of Astera Labs in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $112.77.

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Insider Buying and Selling

In other news, CFO Michael Truett Tate sold 125,800 shares of the company's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $82.53, for a total transaction of $10,382,274.00. Following the sale, the chief financial officer now directly owns 244,242 shares in the company, valued at $20,157,292.26. This represents a 34.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Philip Mazzara sold 50,000 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $87.46, for a total transaction of $4,373,000.00. Following the completion of the transaction, the general counsel now owns 191,209 shares of the company's stock, valued at $16,723,139.14. This trade represents a 20.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 570,990 shares of company stock valued at $50,242,702.

Astera Labs Stock Performance

NASDAQ ALAB traded down $5.24 on Wednesday, hitting $66.95. 3,010,451 shares of the stock traded hands, compared to its average volume of 3,640,962. The firm has a market capitalization of $10.86 billion and a price-to-earnings ratio of -38.70. The business's fifty day moving average is $89.05 and its two-hundred day moving average is $90.03. 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 announced its quarterly earnings data 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%. Analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

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.