Greenhouse Funds LLLP Trims Stake in Astera Labs, Inc. (NASDAQ:ALAB)

Greenhouse Funds LLLP decreased its holdings in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 57.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 253,492 shares of the company's stock after selling 343,416 shares during the quarter. Astera Labs accounts for about 1.4% of Greenhouse Funds LLLP's investment portfolio, making the stock its 29th largest position. Greenhouse Funds LLLP owned approximately 0.16% of Astera Labs worth $33,575,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Hsbc Holdings PLC grew its holdings in Astera Labs by 19.0% during the fourth quarter. Hsbc Holdings PLC now owns 46,465 shares of the company's stock valued at $6,284,000 after purchasing an additional 7,414 shares during the period. Goldstream Capital Management Ltd purchased a new stake in Astera Labs in the 4th quarter worth approximately $1,642,000. Tower Research Capital LLC TRC raised its stake in Astera Labs by 84.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,476 shares of the company's stock worth $460,000 after acquiring an additional 1,587 shares during the period. MML Investors Services LLC purchased a new position in Astera Labs during the fourth quarter valued at approximately $1,401,000. Finally, MetLife Investment Management LLC boosted its position in shares of Astera Labs by 391.3% in the fourth quarter. MetLife Investment Management LLC now owns 2,137 shares of the company's stock worth $283,000 after purchasing an additional 1,702 shares during the period. 60.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ALAB. Raymond James initiated coverage on shares of Astera Labs in a research note on Friday, March 14th. They set an "outperform" rating and a $82.00 target price on the stock. Northland Capmk upgraded Astera Labs from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 28th. Stifel Nicolaus cut their target price on Astera Labs from $150.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Northland Securities raised 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. Finally, Craig Hallum increased their price objective 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. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $109.25.

Insider Activity at Astera Labs

In other Astera Labs news, General Counsel Philip Mazzara sold 7,536 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total transaction of $693,839.52. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Manuel Alba sold 63,000 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total value of $3,992,310.00. Following the completion of the sale, the director now owns 444,863 shares in the company, valued at approximately $28,190,968.31. The trade was a 12.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 633,990 shares of company stock worth $54,235,012.

Astera Labs Price Performance

Shares of Astera Labs stock traded up $1.56 on Friday, reaching $66.11. The company had a trading volume of 2,976,996 shares, compared to its average volume of 3,830,584. The firm has a market cap of $10.72 billion and a price-to-earnings ratio of -38.21. The firm's 50-day moving average price is $66.35 and its two-hundred day moving average price is $91.14. 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 posted its quarterly earnings data on Monday, February 10th. The company reported $0.10 EPS 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%. As a group, analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current year.

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.