Astera Labs, Inc. (NASDAQ:ALAB) is Nicholas Investment Partners LP's 5th Largest Position

Nicholas Investment Partners LP grew its holdings in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 55.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 149,271 shares of the company's stock after acquiring an additional 53,098 shares during the period. Astera Labs comprises approximately 1.7% of Nicholas Investment Partners LP's portfolio, making the stock its 5th largest position. Nicholas Investment Partners LP owned 0.09% of Astera Labs worth $19,771,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Steward Partners Investment Advisory LLC grew its stake 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 worth $26,000 after purchasing an additional 99 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Astera Labs during the fourth quarter worth $25,000. Kestra Investment Management LLC acquired a new position in shares of Astera Labs during the fourth quarter worth $28,000. CIBC Asset Management Inc grew its stake in shares of Astera Labs by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 4,757 shares of the company's stock worth $630,000 after purchasing an additional 237 shares in the last quarter. Finally, Geneos Wealth Management Inc. acquired a new position in shares of Astera Labs during the fourth quarter worth $36,000. Institutional investors and hedge funds own 60.47% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on ALAB shares. Roth Capital set a $100.00 target price on shares of Astera Labs and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Morgan Stanley raised shares of Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 price target for the company in a research report on Monday, May 12th. Stifel Nicolaus reduced their price target on shares of Astera Labs from $150.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Northland Securities raised shares of Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price target for the company in a research report on Tuesday, January 28th. Finally, Susquehanna started coverage on shares of Astera Labs in a research report on Friday. They issued a "neutral" rating and a $80.00 price target for the company. One analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Astera Labs has an average rating of "Buy" and a consensus price target of $98.29.

Insider Activity

In other news, General Counsel Philip Mazzara sold 7,536 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total value of $693,839.52. Following the completion of the sale, the general counsel now directly owns 241,209 shares of the company's stock, valued at approximately $22,208,112.63. This represents a 3.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jitendra Mohan sold 75,000 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $90.90, for a total transaction of $6,817,500.00. Following the completion of the sale, the chief executive officer now directly owns 562,500 shares of the company's stock, valued at $51,131,250. The trade was a 11.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 948,990 shares of company stock valued at $78,221,662.

Astera Labs Price Performance

Shares of NASDAQ:ALAB traded down $1.63 on Friday, reaching $90.56. The company's stock had a trading volume of 3,807,931 shares, compared to its average volume of 3,919,320. The stock's 50-day moving average is $66.62 and its two-hundred day moving average is $92.00. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39. The stock has a market capitalization of $14.93 billion, a P/E ratio of -52.35, a PEG ratio of 6.18 and a beta of 0.33.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. The business had revenue of $159.44 million during the quarter, compared to analysts' expectations of $151.55 million. During the same period in the prior year, the company earned $0.10 earnings per share. The business's revenue was up 144.1% compared to the same quarter last year. Equities analysts forecast 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.