PDT Partners LLC Makes New $1.83 Million Investment in Astera Labs, Inc. (NASDAQ:ALAB)

PDT Partners LLC acquired a new stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 35,000 shares of the company's stock, valued at approximately $1,834,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fred Alger Management LLC increased its holdings in Astera Labs by 1,361.0% in the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company's stock valued at $147,840,000 after buying an additional 2,628,765 shares during the last quarter. Verition Fund Management LLC bought a new stake in Astera Labs in the third quarter valued at about $1,524,000. Spyglass Capital Management LLC bought a new stake in Astera Labs in the third quarter valued at about $38,565,000. Alkeon Capital Management LLC bought a new stake in Astera Labs in the third quarter valued at about $13,098,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Astera Labs by 5.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company's stock valued at $277,000 after buying an additional 284 shares during the last quarter.

Astera Labs Price Performance

Shares of NASDAQ:ALAB traded up $3.65 on Friday, reaching $103.25. 1,915,788 shares of the company traded hands, compared to its average volume of 6,581,640. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $113.85. The company's 50 day moving average is $75.22 and its 200-day moving average is $60.88.

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

Insider Transactions at Astera Labs

In other Astera Labs 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 transaction of $837,426.38. Following the transaction, the director now directly owns 121,803 shares of the company's stock, valued at $13,053,627.51. This represents a 6.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sanjay Gajendra sold 740,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the transaction, the insider now directly owns 775,000 shares in the company, valued at $74,857,250. The trade was a 48.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,897,820 shares of company stock valued at $168,252,298.

Wall Street Analysts Forecast Growth

ALAB has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft upped their target price on Astera Labs from $60.00 to $100.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. increased their price objective on Astera Labs from $70.00 to $110.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Evercore ISI decreased their price objective on Astera Labs from $98.00 to $80.00 and set an "outperform" rating for the company in a report on Wednesday, August 7th. Barclays increased their price objective on Astera Labs from $70.00 to $87.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Finally, Morgan Stanley increased their price objective on Astera Labs from $74.00 to $94.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $94.67.

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.