Entropy Technologies LP Decreases Stock Position in Astera Labs, Inc. (NASDAQ:ALAB)

Entropy Technologies LP cut its position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 70.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,842 shares of the company's stock after selling 9,309 shares during the quarter. Entropy Technologies LP's holdings in Astera Labs were worth $229,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in Astera Labs by 55.7% during the 1st quarter. GAMMA Investing LLC now owns 794 shares of the company's stock valued at $47,000 after acquiring an additional 284 shares during the last quarter. Sound Income Strategies LLC boosted its stake in Astera Labs by 34.7% during the 1st quarter. Sound Income Strategies LLC now owns 792 shares of the company's stock valued at $47,000 after acquiring an additional 204 shares during the last quarter. Harbour Investments Inc. boosted its stake in Astera Labs by 351.7% during the 1st quarter. Harbour Investments Inc. now owns 795 shares of the company's stock valued at $47,000 after acquiring an additional 619 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in Astera Labs during the 1st quarter valued at $48,000. Finally, Hazlett Burt & Watson Inc. boosted its stake in Astera Labs by 1,670.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 885 shares of the company's stock valued at $53,000 after acquiring an additional 835 shares during the last quarter. 60.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Evercore ISI increased their price objective on shares of Astera Labs from $104.00 to $215.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Roth Capital set a $100.00 price objective on shares of Astera Labs and gave the company a "buy" rating in a research note on Wednesday, May 7th. Susquehanna increased their price objective on shares of Astera Labs from $80.00 to $125.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. Stifel Nicolaus set a $145.00 target price on shares of Astera Labs and gave the stock a "buy" rating in a report on Monday, August 4th. Finally, Wall Street Zen cut shares of Astera Labs from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, Astera Labs currently has an average rating of "Moderate Buy" and a consensus price target of $129.13.

Astera Labs Stock Down 1.5%

ALAB stock opened at $190.69 on Friday. Astera Labs, Inc. has a fifty-two week low of $36.85 and a fifty-two week high of $199.47. The firm's 50-day simple moving average is $113.59 and its 200 day simple moving average is $89.51. The stock has a market cap of $31.70 billion, a PE ratio of 340.52, a price-to-earnings-growth ratio of 4.91 and a beta of 1.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.11. The business had revenue of $191.93 million for the quarter, compared to analysts' expectations of $172.46 million. Astera Labs had a net margin of 16.54% and a return on equity of 9.53%. The company's revenue for the quarter was up 149.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.13 EPS. Equities analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Insider Activity at Astera Labs

In related news, COO Sanjay Gajendra sold 280,000 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $170.02, for a total value of $47,605,600.00. Following the completion of the transaction, the chief operating officer owned 5,525,545 shares in the company, valued at $939,453,160.90. This represents a 4.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jitendra Mohan sold 152,517 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $170.33, for a total transaction of $25,978,220.61. Following the completion of the transaction, the chief executive officer owned 450,001 shares of the company's stock, valued at $76,648,670.33. This represents a 25.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,329,686 shares of company stock worth $273,512,376 in the last 90 days. Corporate insiders own 12.50% of the company's stock.

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.

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