80,790 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Bought by Peregrine Investment Management Inc.

Peregrine Investment Management Inc. acquired a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 80,790 shares of the company's stock, valued at approximately $10,701,000. Astera Labs accounts for about 6.2% of Peregrine Investment Management Inc.'s holdings, making the stock its largest position. Peregrine Investment Management Inc. owned approximately 0.05% of Astera Labs at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ALAB. Lecap Asset Management Ltd. acquired a new stake in Astera Labs in the third quarter worth approximately $1,725,000. International Assets Investment Management LLC acquired a new stake in Astera Labs in the third quarter worth approximately $34,310,000. Dakota Wealth Management acquired a new stake in Astera Labs in the third quarter worth approximately $2,204,000. Mount Yale Investment Advisors LLC acquired a new stake in Astera Labs in the third quarter worth approximately $594,000. Finally, Highland Capital Management LLC acquired a new stake in Astera Labs in the third quarter worth approximately $1,594,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ALAB. Northland Securities upgraded Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 target price for the company in a research report on Tuesday, January 28th. Morgan Stanley dropped their price target 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. Stifel Nicolaus upped their price target on Astera Labs from $100.00 to $150.00 and gave the company a "buy" rating in a report on Monday, January 6th. Citigroup assumed coverage on Astera Labs in a report on Monday, November 18th. They issued a "buy" rating and a $120.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $140.00 price target on shares of Astera Labs in a report on Tuesday, February 11th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $115.33.

Insider Transactions at Astera Labs

In related news, CEO Jitendra Mohan sold 173,366 shares of the company's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $110.12, for a total value of $19,091,063.92. Following the completion of the sale, the chief executive officer now directly owns 600,000 shares in the company, valued at approximately $66,072,000. This represents a 22.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Michael Truett Tate sold 16,000 shares of the company's stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $117.84, for a total transaction of $1,885,440.00. Following the completion of the sale, the chief financial officer now owns 1,412,888 shares of the company's stock, valued at $166,494,721.92. This represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 639,244 shares of company stock valued at $67,669,886.

Astera Labs Trading Down 3.6 %

NASDAQ:ALAB traded down $3.37 during trading hours on Wednesday, hitting $89.90. 4,717,350 shares of the stock traded hands, compared to its average volume of 5,559,440. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The firm has a market cap of $14.26 billion and a price-to-earnings ratio of -51.97. The firm has a 50 day moving average price of $118.99 and a 200 day moving average price of $84.48.

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 10.76% and a negative net margin of 21.05%. Research analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

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.