Alkeon Capital Management LLC Buys 150,000 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Alkeon Capital Management LLC grew its holdings in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 60.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 400,000 shares of the company's stock after purchasing an additional 150,000 shares during the period. Alkeon Capital Management LLC owned about 0.25% of Astera Labs worth $52,980,000 at the end of the most recent quarter.

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

Astera Labs Stock Up 1.2 %

ALAB traded up $0.88 during trading on Monday, hitting $72.15. 3,056,916 shares of the company's stock were exchanged, compared to its average volume of 3,822,070. The stock has a market cap of $11.90 billion, a P/E ratio of -41.70, a PEG ratio of 6.18 and a beta of 0.32. The business's 50 day moving average is $64.36 and its two-hundred day moving average is $91.65. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate 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%. On average, sell-side analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Insider Activity at Astera Labs

In other Astera Labs news, CEO Jitendra Mohan sold 350,680 shares of Astera Labs stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 2,353,655 shares of the company's stock, valued at $210,675,659.05. This trade represents a 12.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Manuel Alba sold 63,000 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total value of $3,992,310.00. Following the completion of the transaction, the director now owns 444,863 shares in the company, valued at $28,190,968.31. The trade was a 12.40 % 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 valued at $54,235,012 over the last 90 days.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ALAB shares. Needham & Company LLC reiterated a "buy" rating and set a $140.00 price target on shares of Astera Labs in a report on Tuesday, February 11th. Northland Securities upgraded Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 target price for the company in a research note on Tuesday, January 28th. Northland Capmk upgraded Astera Labs from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 28th. Citigroup reduced their price objective on shares of Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Raymond James initiated coverage on shares of Astera Labs in a report on Friday, March 14th. They issued an "outperform" rating and a $82.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Astera Labs currently has a consensus rating of "Buy" and a consensus target price of $109.25.

Astera Labs 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.