Astera Labs, Inc. (NASDAQ:ALAB) is Driehaus Capital Management LLC's 5th Largest Position

Driehaus Capital Management LLC grew its position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 16,640.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,324,330 shares of the company's stock after acquiring an additional 1,316,419 shares during the period. Astera Labs accounts for approximately 1.4% of Driehaus Capital Management LLC's investment portfolio, making the stock its 5th biggest position. Driehaus Capital Management LLC owned 0.83% of Astera Labs worth $175,408,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Astera Labs by 354.9% during the 4th quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company's stock worth $1,220,080,000 after purchasing an additional 7,186,582 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Astera Labs by 2,328.5% in the 4th quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company's stock worth $519,506,000 after acquiring an additional 3,760,765 shares in the last quarter. Jennison Associates LLC bought a new position in shares of Astera Labs in the 4th quarter worth about $229,991,000. Lord Abbett & CO. LLC increased its stake in shares of Astera Labs by 318.9% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company's stock valued at $240,873,000 after acquiring an additional 1,384,498 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Astera Labs in the 4th quarter valued at $179,229,000. 60.47% of the stock is currently owned by institutional investors.

Astera Labs Stock Up 8.1%

Astera Labs stock traded up $6.54 during trading hours on Tuesday, hitting $86.82. The stock had a trading volume of 3,541,797 shares, compared to its average volume of 3,868,566. The stock has a market capitalization of $14.32 billion, a P/E ratio of -50.18, a price-to-earnings-growth ratio of 6.18 and a beta of 0.33. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39. The stock's 50-day moving average price is $64.56 and its 200-day moving average price is $91.79.

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

Analyst Ratings Changes

A number of analysts recently commented on the company. Northland Capmk raised Astera Labs from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 28th. Northland Securities raised Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 target price for the company in a research report on Tuesday, January 28th. Craig Hallum lifted 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. Needham & Company LLC reduced their price objective on shares of Astera Labs from $140.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Finally, 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 note on Monday, April 14th. Thirteen investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $99.69.

Insider Activity

In related news, Director Michael E. Hurlston sold 2,500 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total transaction of $230,200.00. Following the completion of the sale, the director now owns 91,794 shares in the company, valued at approximately $8,452,391.52. This represents a 2.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sanjay Gajendra sold 165,000 shares of the company's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.76, for a total value of $11,840,400.00. Following the completion of the sale, the insider now owns 755,000 shares of the company's stock, valued at approximately $54,178,800. The trade was a 17.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold 873,990 shares of company stock valued at $71,404,162 over the last three months.

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.