Astera Labs, Inc. (NASDAQ:ALAB) Shares Bought by Peregrine Investment Management Inc.

Peregrine Investment Management Inc. boosted its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 85.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 150,000 shares of the company's stock after purchasing an additional 69,210 shares during the period. Astera Labs comprises about 6.7% of Peregrine Investment Management Inc.'s investment portfolio, making the stock its 3rd biggest position. Peregrine Investment Management Inc. owned approximately 0.09% of Astera Labs worth $8,950,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Astera Labs during the fourth quarter valued at approximately $25,000. Steward Partners Investment Advisory LLC increased its position in shares of Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock valued at $26,000 after acquiring an additional 99 shares during the period. Murphy & Mullick Capital Management Corp acquired a new stake in Astera Labs during the 4th quarter worth about $43,000. NewEdge Advisors LLC acquired a new stake in Astera Labs during the 4th quarter worth about $63,000. Finally, Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Astera Labs during the 4th quarter valued at about $65,000. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on ALAB shares. Needham & Company LLC cut 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. Morgan Stanley upgraded Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 price target on the stock in a research note on Monday, May 12th. Stifel Nicolaus decreased their target price on Astera Labs from $150.00 to $100.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Roth Capital set a $100.00 target price on Astera Labs and gave the company a "buy" rating in a report on Wednesday, May 7th. Finally, Barclays lifted their target price on Astera Labs from $70.00 to $75.00 and gave the company an "overweight" rating in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $100.00.

Insider Transactions at Astera Labs

In related news, COO Sanjay Gajendra sold 165,000 shares of the stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $98.61, for a total value of $16,270,650.00. Following the completion of the sale, the chief operating officer directly owned 695,000 shares in the company, valued at approximately $68,533,950. This represents a 19.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Manuel Alba sold 30,991 shares of the stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $91.13, for a total value of $2,824,209.83. Following the completion of the sale, the director owned 418,863 shares of the company's stock, valued at approximately $38,170,985.19. This represents a 6.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,965,984 shares of company stock valued at $178,631,873.

Astera Labs Trading Down 4.1%

Shares of NASDAQ:ALAB traded down $3.89 during trading on Monday, hitting $92.01. 3,087,958 shares of the stock were exchanged, compared to its average volume of 4,372,770. The company has a fifty day moving average price of $90.47 and a two-hundred day moving average price of $87.75. The company has a market cap of $15.17 billion, a PE ratio of 418.36, a P/E/G ratio of 4.50 and a beta of 1.18. 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 issued its quarterly earnings results 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 the consensus estimate of $151.55 million. Astera Labs had a return on equity of 2.57% and a net margin of 8.44%. Astera Labs's revenue was up 144.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 EPS. Equities research analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

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.