Caisse DE Depot ET Placement DU Quebec Sells 35,465 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Caisse DE Depot ET Placement DU Quebec trimmed its position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 47.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,535 shares of the company's stock after selling 35,465 shares during the quarter. Caisse DE Depot ET Placement DU Quebec's holdings in Astera Labs were worth $5,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Tidal Investments LLC boosted its stake in Astera Labs by 81.8% during the third quarter. Tidal Investments LLC now owns 45,298 shares of the company's stock worth $2,373,000 after buying an additional 20,388 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in shares of Astera Labs by 1.8% during the fourth quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company's stock worth $2,864,000 after acquiring an additional 390 shares during the period. Peregrine Investment Management Inc. bought a new position in shares of Astera Labs during the 4th quarter worth approximately $10,701,000. Elemental Capital Partners LLC bought a new stake in Astera Labs during the fourth quarter worth about $1,346,000. Finally, Renaissance Capital LLC grew its position in shares of Astera Labs by 381.0% in the 4th quarter. Renaissance Capital LLC now owns 114,276 shares of the company's stock valued at $15,136,000 after acquiring an additional 90,516 shares during the period. Institutional investors own 60.47% of the company's stock.

Insider Transactions at Astera Labs

In other news, Director Michael E. Hurlston sold 2,500 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total value of $230,200.00. Following the transaction, the director now directly owns 91,794 shares in the company, valued at $8,452,391.52. The trade was a 2.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Philip Mazzara sold 7,536 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total value of $693,839.52. Following the sale, the general counsel now owns 241,209 shares of the company's stock, valued at $22,208,112.63. This represents a 3.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 633,990 shares of company stock worth $54,235,012 in the last 90 days.

Wall Street Analysts Forecast Growth

ALAB has been the topic of a number of recent research reports. Stifel Nicolaus lowered their target price on Astera Labs from $150.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Northland Capmk upgraded shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 28th. Roth Capital set a $100.00 price objective on Astera Labs and gave the company a "buy" rating in a report on Wednesday. Morgan Stanley dropped their price target on Astera Labs from $142.00 to $114.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 28th. Finally, Citigroup decreased their price target on shares of Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Monday, April 14th. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $100.85.

Astera Labs Stock Performance

Shares of Astera Labs stock traded up $0.55 during midday trading on Thursday, hitting $71.64. The company had a trading volume of 4,692,928 shares, compared to its average volume of 3,853,418. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39. The company has a 50 day moving average of $64.21 and a 200 day moving average of $91.37. The stock has a market capitalization of $11.81 billion, a P/E ratio of -41.41, a P/E/G ratio of 6.18 and a beta of 0.33.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued 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 company had revenue of $159.44 million for the quarter, compared to the consensus estimate of $151.55 million. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. The firm's revenue for the quarter was up 144.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.10 earnings per share. Equities research analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current year.

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.