65,500 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Purchased by Discovery Capital Management LLC CT

Discovery Capital Management LLC CT purchased a new stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 65,500 shares of the company's stock, valued at approximately $8,675,000.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Astera Labs by 354.9% in the 4th quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company's stock valued at $1,220,080,000 after buying an additional 7,186,582 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Astera Labs by 2,328.5% in the fourth quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company's stock valued at $519,506,000 after acquiring an additional 3,760,765 shares in the last quarter. Jennison Associates LLC acquired a new position in Astera Labs in the fourth quarter valued at $229,991,000. Norges Bank purchased a new position in shares of Astera Labs during the fourth quarter worth about $179,229,000. Finally, JPMorgan Chase & Co. increased its position in shares of Astera Labs by 50.5% during the fourth quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company's stock worth $312,644,000 after purchasing an additional 792,153 shares in the last quarter. 60.47% of the stock is owned by hedge funds and other institutional investors.

Astera Labs Trading Down 4.9 %

Shares of ALAB traded down $2.74 during mid-day trading on Friday, hitting $52.94. The company's stock had a trading volume of 5,757,559 shares, compared to its average volume of 3,708,884. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39. The firm has a market capitalization of $8.58 billion and a P/E ratio of -30.60. The firm has a 50-day simple moving average of $78.49 and a 200 day simple moving average of $90.43.

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

Insider Buying and Selling at Astera Labs

In related news, CFO Michael Truett Tate sold 125,800 shares of the 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 sale, the chief financial officer now directly owns 244,242 shares of the company's stock, valued at approximately $20,157,292.26. This represents a 34.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Manuel Alba sold 63,000 shares of Astera Labs 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 transaction, the director now owns 444,863 shares of the company's stock, valued at approximately $28,190,968.31. The trade was a 12.40 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 633,990 shares of company stock valued at $54,235,012.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ALAB shares. Needham & Company LLC restated a "buy" rating and set a $140.00 price target on shares of Astera Labs in a research note on Tuesday, February 11th. Northland Capmk raised shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 28th. Northland Securities upgraded shares of Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price target for the company in a research note on Tuesday, January 28th. Stifel Nicolaus lifted their price objective on shares of Astera Labs from $100.00 to $150.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Finally, Raymond James started coverage on shares of Astera Labs in a report on Friday, March 14th. They issued an "outperform" rating and a $82.00 target price for the company. 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. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $112.77.

About Astera Labs

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.