3,403 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Acquired by Versor Investments LP

Versor Investments 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 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,403 shares of the company's stock, valued at approximately $451,000.

Several other large investors also recently bought and sold shares of ALAB. Fred Alger Management LLC increased its position 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 worth $147,840,000 after purchasing an additional 2,628,765 shares during the last quarter. Jennison Associates LLC bought a new stake in Astera Labs in the fourth quarter worth $229,991,000. Westfield Capital Management Co. LP bought a new stake in Astera Labs in the third quarter worth $52,049,000. The Manufacturers Life Insurance Company increased its position in Astera Labs by 15,477.8% in the third quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company's stock worth $46,054,000 after purchasing an additional 873,412 shares during the last quarter. Finally, Spyglass Capital Management LLC bought a new stake in Astera Labs in the third quarter worth $38,565,000. Institutional investors own 60.47% of the company's stock.

Insider Buying and Selling

In other news, General Counsel Philip Mazzara sold 50,000 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $87.46, for a total value of $4,373,000.00. Following the sale, the general counsel now directly owns 191,209 shares in the company, valued at approximately $16,723,139.14. This trade represents a 20.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jitendra Mohan sold 350,680 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the completion of the sale, the chief executive officer now owns 2,353,655 shares in the company, valued at $210,675,659.05. This represents a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 570,990 shares of company stock valued at $50,242,702 over the last three months.

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Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Needham & Company LLC reiterated a "buy" rating and set a $140.00 price objective on shares of Astera Labs in a research report on Tuesday, February 11th. Northland Securities upgraded shares of Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price objective on the stock in a research report on Tuesday, January 28th. Stifel Nicolaus boosted their price objective on shares of Astera Labs from $100.00 to $150.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Craig Hallum boosted their price objective on shares of Astera Labs from $105.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. Finally, Morgan Stanley cut 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 equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $115.33.

Astera Labs Trading Down 9.5 %

Shares of NASDAQ ALAB traded down $6.48 during mid-day trading on Thursday, reaching $62.09. The company had a trading volume of 3,118,712 shares, compared to its average volume of 5,617,375. The business's 50-day moving average is $107.61 and its 200-day moving average is $87.09. The stock has a market cap of $10.07 billion and a price-to-earnings ratio of -35.89. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released 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 return on equity of 10.40% and a negative net margin of 21.05%. As a group, equities research analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share 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.