Astera Labs, Inc. (NASDAQ:ALAB) Shares Purchased by Emerald Advisers LLC

Emerald Advisers LLC raised its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 71.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,788 shares of the company's stock after purchasing an additional 4,492 shares during the quarter. Emerald Advisers LLC's holdings in Astera Labs were worth $1,429,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Tidal Investments LLC grew its position in shares of 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 buying an additional 20,388 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in Astera Labs by 1.8% during the 4th quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company's stock valued at $2,864,000 after acquiring an additional 390 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Astera Labs during the 3rd quarter valued at $530,000. Maverick Capital Ltd. grew its holdings in Astera Labs by 16.0% during the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company's stock worth $60,575,000 after acquiring an additional 159,480 shares in the last quarter. Finally, Bank of Hawaii bought a new stake in shares of Astera Labs in the 3rd quarter worth about $1,409,000. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Astera Labs news, General Counsel Philip Mazzara sold 50,000 shares of the stock in a transaction on Thursday, February 20th. The stock was 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 directly owns 191,209 shares of the company's stock, valued at approximately $16,723,139.14. This trade represents a 20.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jitendra Mohan sold 350,680 shares of the business's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total value of $31,389,366.80. Following the completion of the sale, the chief executive officer now directly owns 2,353,655 shares in the company, valued at $210,675,659.05. This represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 570,990 shares of company stock worth $50,242,702 over the last three months.

Remove Ads

Astera Labs Stock Down 3.2 %

Astera Labs stock traded down $2.01 during mid-day trading on Friday, hitting $60.78. 3,132,437 shares of the company's stock traded hands, compared to its average volume of 3,666,769. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39. The firm has a 50 day moving average price of $85.00 and a 200 day moving average price of $89.84. The company has a market cap of $9.86 billion and a PE ratio of -35.13.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted 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%. On average, analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ALAB shares. Stifel Nicolaus increased their price target on shares of Astera Labs from $100.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Morgan Stanley reduced their target price on Astera Labs from $142.00 to $114.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 28th. Northland Capmk upgraded Astera Labs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 28th. Northland Securities raised Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price target on the stock 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 report on Tuesday, February 11th. One 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 MarketBeat, the company presently has a consensus rating of "Buy" and a consensus 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.