Trexquant Investment LP Invests $9.94 Million in Astera Labs, Inc. (NASDAQ:ALAB)

Trexquant Investment LP purchased a new position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 75,053 shares of the company's stock, valued at approximately $9,941,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. bought a new position in Astera Labs during the fourth quarter valued at approximately $25,000. Steward Partners Investment Advisory LLC grew its stake in shares of Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock worth $26,000 after buying an additional 99 shares in the last quarter. Kestra Investment Management LLC bought a new stake in shares of Astera Labs in the 4th quarter worth about $28,000. Geneos Wealth Management Inc. purchased a new stake in shares of Astera Labs during the 4th quarter valued at about $36,000. Finally, Global Retirement Partners LLC lifted its holdings in shares of Astera Labs by 3,155.6% in the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock valued at $39,000 after acquiring an additional 284 shares during the last quarter. Institutional investors own 60.47% of the company's stock.

Insider Activity at Astera Labs

In other news, Director Michael E. Hurlston sold 2,500 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total value of $230,200.00. Following the sale, the director now owns 91,794 shares in the company, valued at $8,452,391.52. This represents a 2.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Philip Mazzara sold 7,536 shares of the firm'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 sale, the general counsel now directly owns 241,209 shares in the company, valued at $22,208,112.63. The trade was a 3.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 633,990 shares of company stock worth $54,235,012 over the last quarter.

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Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ALAB shares. Barclays boosted their price objective on Astera Labs from $87.00 to $135.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. Northland Securities upgraded Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price target on the stock in a report on Tuesday, January 28th. Stifel Nicolaus lifted their price objective on shares of Astera Labs from $100.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Raymond James initiated coverage on shares of Astera Labs in a research note on Friday, March 14th. They issued an "outperform" rating and a $82.00 target price on the stock. Finally, Morgan Stanley reduced their price objective on shares of Astera Labs from $142.00 to $114.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $112.77.

Astera Labs Price Performance

NASDAQ ALAB traded up $1.04 during trading on Monday, reaching $53.98. 2,438,122 shares of the company's stock traded hands, compared to its average volume of 3,713,115. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39. The company's 50 day simple moving average is $78.49 and its two-hundred day simple moving average is $91.05. The firm has a market cap of $8.75 billion and a price-to-earnings ratio of -31.05.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings data 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 net margin of 21.05% and a negative return on equity of 10.40%. Research analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal 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.