Man Group plc Makes New Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Man Group plc acquired a new position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 62,147 shares of the company's stock, valued at approximately $8,231,000.

Several other large investors also recently bought and sold shares of ALAB. Nicholas Investment Partners LP lifted its position in Astera Labs by 55.2% during the fourth quarter. Nicholas Investment Partners LP now owns 149,271 shares of the company's stock worth $19,771,000 after buying an additional 53,098 shares in the last quarter. Nuveen Asset Management LLC increased its position in Astera Labs by 901.1% during the fourth quarter. Nuveen Asset Management LLC now owns 477,612 shares of the company's stock worth $63,260,000 after purchasing an additional 429,903 shares during the last quarter. Numerai GP LLC purchased a new position in Astera Labs during the fourth quarter worth about $2,519,000. Occudo Quantitative Strategies LP acquired a new position in Astera Labs in the 4th quarter valued at about $2,649,000. Finally, Miura Global Management LLC acquired a new position in Astera Labs in the 4th quarter valued at about $1,987,000. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Citigroup reduced their price target on shares of Astera Labs from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Northland Capmk upgraded Astera Labs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 28th. Northland Securities upgraded Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price target on the stock in a research note on Tuesday, January 28th. Craig Hallum increased their target price on shares of Astera Labs from $105.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Finally, Morgan Stanley raised shares of Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 price target for the company in a research report on Monday, May 12th. One 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, the company currently has an average rating of "Buy" and a consensus target price of $100.00.

Astera Labs Trading Up 0.3%

Astera Labs stock traded up $0.32 during midday 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 3,988,631. The business has a 50-day moving average price of $68.99 and a 200-day moving average price of $92.52. The stock has a market cap of $15.60 billion, a PE ratio of -54.69, a price-to-earnings-growth ratio of 6.18 and a beta of 0.33. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week 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 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $159.44 million for the quarter, compared to analyst estimates of $151.55 million. During the same period in the prior year, the firm earned $0.10 earnings per share. Astera Labs's revenue for the quarter was up 144.1% on a year-over-year basis. As a group, research analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Insider Transactions at Astera Labs

In other news, CFO Michael Truett Tate sold 125,800 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $82.53, for a total value of $10,382,274.00. Following the completion of the transaction, the chief financial officer now directly owns 244,242 shares of the company's stock, valued at $20,157,292.26. This represents a 34.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Philip Mazzara sold 3,809 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $90.67, for a total value of $345,362.03. Following the sale, the general counsel now directly owns 187,596 shares of the company's stock, valued at $17,009,329.32. The trade was a 1.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 852,640 shares of company stock valued at $69,893,694 over the last ninety days.

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.