GAMMA Investing LLC Has $28.27 Million Stock Position in Astera Labs, Inc. (NASDAQ:ALAB)

GAMMA Investing LLC grew its position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 9,189.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 47,378 shares of the company's stock after purchasing an additional 46,868 shares during the period. GAMMA Investing LLC's holdings in Astera Labs were worth $28,270,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of ALAB. KBC Group NV bought a new stake in shares of Astera Labs in the 4th quarter valued at $199,000. Chicago Partners Investment Group LLC acquired a new position in Astera Labs in the fourth quarter valued at about $228,000. Calamos Advisors LLC bought a new stake in shares of Astera Labs in the fourth quarter worth about $1,693,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Astera Labs during the fourth quarter worth about $159,000. Finally, Elemental Capital Partners LLC bought a new position in shares of Astera Labs during the 4th quarter valued at about $1,346,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Sanjay Gajendra sold 165,000 shares of the firm's stock in a transaction that occurred on 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 directly owns 755,000 shares of the company's stock, valued at $54,178,800. This trade represents a 17.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Manuel Alba sold 63,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total value of $3,992,310.00. Following the transaction, the director now owns 444,863 shares of the company's stock, valued at $28,190,968.31. This represents a 12.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,495,267 shares of company stock worth $131,012,865.

Analyst Ratings Changes

A number of analysts recently issued reports on ALAB shares. Barclays increased their target price on Astera Labs from $70.00 to $75.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 7th. Stifel Nicolaus lowered their price objective on shares of Astera Labs from $150.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Susquehanna assumed coverage on shares of Astera Labs in a report on Friday, May 16th. They set a "neutral" rating and a $80.00 price objective on the stock. William Blair assumed coverage on shares of Astera Labs in a research note on Thursday, May 22nd. They issued an "outperform" rating for the company. Finally, Evercore ISI lifted their price target on Astera Labs from $87.00 to $104.00 and gave the company an "outperform" rating in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Astera Labs presently has an average rating of "Buy" and an average target price of $100.00.

Astera Labs Stock Performance

ALAB traded up $0.04 on Friday, hitting $90.75. 2,843,654 shares of the company were exchanged, compared to its average volume of 4,058,307. The stock's fifty day moving average is $73.86 and its 200-day moving average is $92.71. 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 $14.97 billion, a PE ratio of -52.46, a PEG ratio of 6.18 and a beta of 0.33.

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