Jacobs Levy Equity Management Inc. Purchases Shares of 6,690 Astera Labs, Inc. (NASDAQ:ALAB)

Jacobs Levy Equity Management Inc. purchased a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 6,690 shares of the company's stock, valued at approximately $886,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC boosted its position in shares of Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock valued at $26,000 after buying an additional 99 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in Astera Labs during the 4th quarter valued at $25,000. Kestra Investment Management LLC purchased a new position in Astera Labs during the 4th quarter worth $28,000. CIBC Asset Management Inc boosted its holdings in Astera Labs by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 4,757 shares of the company's stock worth $630,000 after acquiring an additional 237 shares during the last quarter. Finally, Geneos Wealth Management Inc. bought a new stake in shares of Astera Labs in the 4th quarter worth $36,000. 60.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ALAB shares. Craig Hallum boosted their price target on shares of Astera Labs from $105.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Roth Capital set a $100.00 target price on Astera Labs and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Barclays upped their target price on Astera Labs from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Stifel Nicolaus dropped their price target on Astera Labs from $150.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, Northland Securities upgraded Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price objective for the company in a research note on Tuesday, January 28th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $98.29.

Astera Labs Price Performance

Shares of ALAB traded up $4.17 during trading hours on Tuesday, hitting $94.46. The company's stock had a trading volume of 4,376,559 shares, compared to its average volume of 3,930,553. The business has a 50 day simple moving average of $67.05 and a two-hundred day simple moving average of $92.40. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39. The company has a market cap of $15.58 billion, a price-to-earnings ratio of -54.60, a PEG ratio of 6.18 and a beta of 0.33.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. The business had revenue of $159.44 million during the quarter, compared to analyst estimates of $151.55 million. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. Astera Labs's revenue was up 144.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 EPS. Research analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Insider Activity

In related news, General Counsel Philip Mazzara sold 50,000 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $87.46, for a total transaction of $4,373,000.00. Following the completion of the transaction, the general counsel now owns 191,209 shares of the company's stock, valued at approximately $16,723,139.14. The trade was a 20.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jitendra Mohan sold 350,680 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the sale, the chief executive officer now directly owns 2,353,655 shares in the company, valued at $210,675,659.05. This trade represents a 12.97% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 904,480 shares of company stock worth $74,123,601.

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.