Cinctive Capital Management LP Makes New $4.58 Million Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Cinctive Capital Management LP purchased a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 87,343 shares of the company's stock, valued at approximately $4,576,000. Cinctive Capital Management LP owned about 0.06% of Astera Labs as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC raised its stake in Astera Labs by 0.7% during the third quarter. FMR LLC now owns 23,504,038 shares of the company's stock worth $1,231,377,000 after acquiring an additional 153,491 shares during the period. Fred Alger Management LLC grew its stake in Astera Labs by 1,361.0% during the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company's stock worth $147,840,000 after buying an additional 2,628,765 shares during the last quarter. Maverick Capital Ltd. lifted its stake in Astera Labs by 16.0% in the third quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company's stock valued at $60,575,000 after buying an additional 159,480 shares during the last quarter. Westfield Capital Management Co. LP bought a new position in shares of Astera Labs during the third quarter worth about $52,049,000. Finally, The Manufacturers Life Insurance Company lifted its position in Astera Labs by 15,477.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company's stock valued at $46,054,000 after purchasing an additional 873,412 shares during the last quarter.

Astera Labs Stock Performance

Shares of ALAB traded up $11.16 during trading hours on Tuesday, hitting $114.55. 4,850,048 shares of the company were exchanged, compared to its average volume of 3,191,480. The firm's 50 day moving average is $75.22 and its 200-day moving average is $60.88. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $115.00.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.06. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The company had revenue of $113.10 million for the quarter, compared to the consensus estimate of $97.50 million. The firm's quarterly revenue was up 47.1% on a year-over-year basis. As a group, equities research analysts forecast that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ALAB has been the subject of several analyst reports. Stifel Nicolaus boosted their price objective on Astera Labs from $80.00 to $100.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Morgan Stanley raised their price target on Astera Labs from $74.00 to $94.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Needham & Company LLC reaffirmed a "buy" rating and issued a $65.00 price target on shares of Astera Labs in a research note on Wednesday, October 9th. JPMorgan Chase & Co. upped their target price on Astera Labs from $70.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Astera Labs from $60.00 to $100.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $94.67.

Insider Buying and Selling

In other news, Director Stefan A. Dyckerhoff sold 7,814 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $107.17, for a total value of $837,426.38. Following the completion of the transaction, the director now owns 121,803 shares in the company, valued at approximately $13,053,627.51. This represents a 6.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Sanjay Gajendra sold 76,701 shares of Astera Labs stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $45.32, for a total transaction of $3,476,089.32. Following the sale, the insider now owns 855,000 shares in the company, valued at approximately $38,748,600. This trade represents a 8.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,897,820 shares of company stock valued at $168,252,298.

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.