Bayesian Capital Management LP Takes $675,000 Position in Astera Labs, Inc. (NASDAQ:ALAB)

Bayesian Capital Management LP bought a new stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 5,100 shares of the company's stock, valued at approximately $675,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Astera Labs during the fourth quarter worth about $25,000. Steward Partners Investment Advisory LLC increased 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 worth $26,000 after purchasing an additional 99 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Astera Labs during the fourth quarter worth about $28,000. Geneos Wealth Management Inc. acquired a new stake in shares of Astera Labs during the fourth quarter worth about $36,000. Finally, Global Retirement Partners LLC increased its position in Astera Labs by 3,155.6% in the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock valued at $39,000 after acquiring an additional 284 shares during the period. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, General Counsel Philip Mazzara sold 50,000 shares of the stock in a transaction dated 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 sale, the general counsel now owns 191,209 shares in the company, valued at $16,723,139.14. This represents a 20.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jitendra Mohan sold 350,680 shares of the stock in a transaction dated 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 owns 2,353,655 shares in the company, valued at approximately $210,675,659.05. This trade represents a 12.97% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 633,990 shares of company stock valued at $54,235,012.

Wall Street Analyst Weigh In

ALAB has been the topic of several recent research reports. Morgan Stanley upgraded Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 price target on the stock in a research report on Monday. 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 research report on Thursday, April 17th. Craig Hallum boosted their price target on Astera Labs from $105.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. Northland Securities upgraded Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price target on the stock in a research report on Tuesday, January 28th. Finally, Citigroup dropped their price target on Astera Labs from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Astera Labs currently has a consensus rating of "Buy" and a consensus price target of $99.69.

Astera Labs Trading Up 9.3%

Shares of NASDAQ:ALAB traded up $6.65 during trading on Monday, hitting $77.85. 2,315,729 shares of the stock were exchanged, compared to its average volume of 3,853,429. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39. The company has a market cap of $12.84 billion, a PE ratio of -44.80, a P/E/G ratio of 6.18 and a beta of 0.33. The company has a fifty day moving average price of $64.32 and a two-hundred day moving average price of $91.73.

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