Freemont Management S.A. Acquires Shares of 91,500 Astera Labs, Inc. (NASDAQ:ALAB)

Key Points

• Freemont Management S.A. has acquired 91,500 shares of Astera Labs, Inc. (NASDAQ:ALAB) valued at approximately $5.46 million, making it the 15th largest holding in their portfolio.
• Astera Labs reported earnings of $0.33 per share for the last quarter, surpassing analysts' expectations of $0.28, with revenue increasing 144.1% year-over-year.
• Insider trading activity has shown significant sales, with CFO Michael Truett Tate selling 500,000 shares for over $45 million, indicating a 44.68% decrease in his position.

Freemont Management S.A. acquired a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 91,500 shares of the company's stock, valued at approximately $5,460,000. Astera Labs accounts for approximately 1.8% of Freemont Management S.A.'s investment portfolio, making the stock its 15th largest holding. Freemont Management S.A. owned 0.06% of Astera Labs as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Hoey Investments Inc. boosted its holdings in shares of Astera Labs by 4.2% in the first quarter. Hoey Investments Inc. now owns 5,000 shares of the company's stock worth $298,000 after acquiring an additional 200 shares during the period. Sound Income Strategies LLC boosted its holdings in shares of Astera Labs by 34.7% in the first quarter. Sound Income Strategies LLC now owns 792 shares of the company's stock worth $47,000 after acquiring an additional 204 shares during the period. Allworth Financial LP boosted its holdings in shares of Astera Labs by 20.4% in the first quarter. Allworth Financial LP now owns 1,394 shares of the company's stock worth $90,000 after acquiring an additional 236 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Astera Labs by 55.7% in the first quarter. GAMMA Investing LLC now owns 794 shares of the company's stock worth $47,000 after acquiring an additional 284 shares during the period. Finally, National Bank of Canada FI boosted its holdings in shares of Astera Labs by 121.7% in the fourth quarter. National Bank of Canada FI now owns 541 shares of the company's stock worth $72,000 after acquiring an additional 297 shares during the period. 60.47% of the stock is owned by institutional investors.

Astera Labs Trading Up 1.8%

ALAB opened at $121.68 on Friday. The company has a market cap of $20.07 billion, a P/E ratio of 553.12, a P/E/G ratio of 5.61 and a beta of 1.18. The business's 50-day moving average price is $95.39 and its 200-day moving average price is $86.49. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. Astera Labs had a return on equity of 2.57% and a net margin of 8.44%. The company had revenue of $159.44 million for the quarter, compared to the consensus estimate of $151.55 million. During the same quarter in the previous year, the business earned $0.10 EPS. Astera Labs's revenue was up 144.1% compared to the same quarter last year. Equities research analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity at Astera Labs

In related news, CFO Michael Truett Tate sold 500,000 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $90.23, for a total transaction of $45,115,000.00. Following the transaction, the chief financial officer owned 618,996 shares in the company, valued at $55,852,009.08. The trade was a 44.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sanjay Gajendra sold 165,000 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.76, for a total value of $11,840,400.00. Following the transaction, the insider owned 755,000 shares in the company, valued at approximately $54,178,800. This represents a 17.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,181,759 shares of company stock worth $200,883,431 in the last 90 days.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ALAB. Needham & Company LLC cut their price target on Astera Labs from $140.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Northland Securities lowered Astera Labs from an "outperform" rating to a "market perform" rating and set a $120.00 price objective for the company. in a report on Tuesday. Morgan Stanley upgraded shares of Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 target price for the company in a research report on Monday, May 12th. Wall Street Zen lowered shares of Astera Labs from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, Northland Capmk lowered shares of Astera Labs from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $102.67.

Astera Labs Company 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.

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