Elemental Capital Partners LLC Makes New $1.35 Million Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Elemental Capital Partners LLC acquired a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 10,160 shares of the company's stock, valued at approximately $1,346,000. Astera Labs accounts for 1.3% of Elemental Capital Partners LLC's investment portfolio, making the stock its 6th largest position.

A number of other large investors have also modified their holdings of the company. Fred Alger Management LLC raised its holdings in shares of Astera Labs by 1,361.0% in the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company's stock worth $147,840,000 after buying an additional 2,628,765 shares in the last quarter. Jennison Associates LLC acquired a new position in Astera Labs during the fourth quarter worth $229,991,000. Westfield Capital Management Co. LP bought a new position in shares of Astera Labs during the third quarter valued at $52,049,000. The Manufacturers Life Insurance Company boosted its stake in shares of Astera Labs by 15,477.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company's stock valued at $46,054,000 after purchasing an additional 873,412 shares in the last quarter. Finally, Spyglass Capital Management LLC bought a new stake in shares of Astera Labs in the 3rd quarter worth about $38,565,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Astera Labs Stock Down 3.1 %

Shares of Astera Labs stock traded down $3.22 during trading hours on Friday, hitting $101.29. The company's stock had a trading volume of 4,954,525 shares, compared to its average volume of 5,023,027. The stock has a 50 day moving average of $122.39 and a 200 day moving average of $81.91. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Craig Hallum lifted their price target on shares of Astera Labs from $75.00 to $105.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Stifel Nicolaus boosted their target price on Astera Labs from $100.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Roth Mkm increased their price target on Astera Labs from $80.00 to $105.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lifted their price objective on Astera Labs from $60.00 to $100.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. raised their target price on Astera Labs from $70.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, November 5th. One investment 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. Based on data from MarketBeat, Astera Labs has a consensus rating of "Buy" and a consensus target price of $107.42.

Insider Activity at Astera Labs

In other Astera Labs news, CEO Jitendra Mohan sold 171,064 shares of Astera Labs stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $103.53, for a total value of $17,710,255.92. Following the sale, the chief executive officer now owns 628,895 shares of the company's stock, valued at $65,109,499.35. This trade represents a 21.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Manuel Alba sold 63,000 shares of the company's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $102.94, for a total value of $6,485,220.00. Following the transaction, the director now directly owns 471,863 shares of the company's stock, valued at $48,573,577.22. This represents a 11.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 846,452 shares of company stock worth $86,427,256.

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.