Pacific Point Advisors LLC Takes Position in Astera Labs, Inc. (NASDAQ:ALAB)

Pacific Point Advisors LLC acquired a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,000 shares of the company's stock, valued at approximately $530,000.

A number of other hedge funds have also bought and sold shares of the company. Castleark Management LLC bought a new position in Astera Labs in the 4th quarter worth about $364,000. PharVision Advisers LLC bought a new position in Astera Labs in the fourth quarter worth about $365,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Astera Labs by 2,824.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 154,524 shares of the company's stock valued at $20,467,000 after buying an additional 149,240 shares during the last quarter. Voloridge Investment Management LLC bought a new stake in shares of Astera Labs in the 4th quarter valued at about $48,863,000. Finally, Visionary Wealth Advisors purchased a new position in shares of Astera Labs in the 4th quarter worth approximately $211,000. Institutional investors own 60.47% of the company's stock.

Insider Transactions at Astera Labs

In related news, CEO Jitendra Mohan sold 75,000 shares of Astera Labs stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $90.90, for a total transaction of $6,817,500.00. Following the completion of the sale, the chief executive officer now owns 562,500 shares of the company's stock, valued at approximately $51,131,250. This trade represents a 11.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Philip Mazzara sold 3,809 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $90.67, for a total transaction of $345,362.03. Following the completion of the sale, the general counsel now directly owns 187,596 shares of the company's stock, valued at $17,009,329.32. This represents a 1.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 726,840 shares of company stock valued at $59,511,420 over the last ninety days.

Analyst Ratings Changes

A number of analysts have recently weighed in on ALAB shares. Northland Securities raised Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price objective for the company in a research report on Tuesday, January 28th. Needham & Company LLC reduced their price objective on Astera Labs from $140.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. 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, May 21st. Northland Capmk raised Astera Labs from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 28th. Finally, Craig Hallum lifted their price target on Astera Labs from $105.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. One investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $100.00.

Astera Labs Price Performance

ALAB stock traded up $0.31 on Wednesday, reaching $97.85. The company's stock had a trading volume of 1,612,774 shares, compared to its average volume of 3,977,620. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39. The company has a market capitalization of $16.14 billion, a P/E ratio of -56.57, a price-to-earnings-growth ratio of 6.18 and a beta of 0.33. The firm has a fifty day moving average of $70.07 and a two-hundred day moving average of $92.53.

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