368,917 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Purchased by Voloridge Investment Management LLC

Voloridge Investment Management LLC acquired a new position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 368,917 shares of the company's stock, valued at approximately $48,863,000. Voloridge Investment Management LLC owned 0.23% of Astera Labs at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Steward Partners Investment Advisory LLC increased its stake in shares of Astera Labs by 99.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock worth $26,000 after acquiring an additional 99 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new stake in Astera Labs during the fourth quarter worth $25,000. Kestra Investment Management LLC purchased a new stake in Astera Labs during the fourth quarter worth $28,000. CIBC Asset Management Inc boosted its holdings in 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 buying an additional 237 shares in the last quarter. Finally, Geneos Wealth Management Inc. purchased a new stake in Astera Labs during the fourth quarter worth $36,000. Institutional investors and hedge funds own 60.47% of the company's stock.

Insider Activity

In other news, CFO Michael Truett Tate sold 125,800 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total value of $10,382,274.00. Following the completion of the sale, the chief financial officer now directly owns 244,242 shares in the company, valued at $20,157,292.26. This represents a 34.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jitendra Mohan sold 128,250 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $90.02, for a total transaction of $11,545,065.00. Following the completion of the sale, the chief executive officer now owns 541,125 shares of the company's stock, valued at $48,712,072.50. This trade represents a 19.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 852,640 shares of company stock worth $69,893,694 over the last three months.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Evercore ISI increased their price target on shares of Astera Labs from $87.00 to $104.00 and gave the stock an "outperform" rating in a report on Wednesday. Northland Capmk raised shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 28th. Needham & Company LLC lowered their price target on shares of Astera Labs from $140.00 to $100.00 and set a "buy" rating on the stock in a report 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 on the stock in a report on Monday, May 12th. Finally, Roth Capital set a $100.00 price target on shares of Astera Labs and gave the stock a "buy" rating in a report on Wednesday, May 7th. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $100.00.

Astera Labs Stock Performance

Shares of NASDAQ ALAB traded up $0.32 during mid-day trading on Friday, reaching $94.62. The company's stock had a trading volume of 3,223,727 shares, compared to its average volume of 3,976,108. The stock has a 50-day moving average of $68.99 and a two-hundred day moving average of $92.58. The stock has a market capitalization of $15.60 billion, a P/E ratio of -54.69, a P/E/G ratio of 6.18 and a beta of 0.33. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39.

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

About Astera Labs

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.