PharVision Advisers LLC Makes New Investment in Astera Labs, Inc. (NASDAQ:ALAB)

PharVision Advisers LLC bought a new position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,758 shares of the company's stock, valued at approximately $365,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Astera Labs by 354.9% in the 4th quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company's stock valued at $1,220,080,000 after buying an additional 7,186,582 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Astera Labs by 2,328.5% during the fourth quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company's stock worth $519,506,000 after acquiring an additional 3,760,765 shares in the last quarter. Jennison Associates LLC bought a new position in shares of Astera Labs in the fourth quarter worth $229,991,000. Lord Abbett & CO. LLC boosted its holdings in shares of Astera Labs by 318.9% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company's stock worth $240,873,000 after acquiring an additional 1,384,498 shares during the period. Finally, Norges Bank purchased a new position in shares of Astera Labs in the fourth quarter valued at $179,229,000. Institutional investors own 60.47% of the company's stock.

Analyst Upgrades and Downgrades

ALAB has been the topic of a number of recent research reports. Northland Securities raised Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price objective on the stock in a report on Tuesday, January 28th. Northland Capmk raised shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 28th. Raymond James started coverage on shares of Astera Labs in a research report on Friday, March 14th. They issued an "outperform" rating and a $82.00 price objective for the company. Citigroup reduced their price objective on shares of Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Stifel Nicolaus lowered their target price on shares of Astera Labs from $150.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $98.29.

Insider Buying and Selling

In other news, insider Sanjay Gajendra sold 165,000 shares of the firm's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.76, for a total transaction of $11,840,400.00. Following the transaction, the insider now directly owns 755,000 shares of the company's stock, valued at approximately $54,178,800. This trade represents a 17.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Truett Tate sold 9,107 shares of Astera Labs stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $90.67, for a total value of $825,731.69. Following the completion of the transaction, the chief financial officer now owns 235,135 shares in the company, valued at approximately $21,319,690.45. This represents a 3.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 774,390 shares of company stock worth $62,721,629 in the last quarter.

Astera Labs Stock Performance

NASDAQ ALAB opened at $94.46 on Wednesday. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39. The company has a fifty day moving average of $67.63 and a 200-day moving average of $92.42. The company has a market capitalization of $15.58 billion, a P/E ratio of -54.60, a P/E/G ratio of 6.18 and a beta of 0.33.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share for the quarter, beating 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 business had revenue of $159.44 million for the quarter, compared to the consensus estimate of $151.55 million. During the same quarter last year, the business posted $0.10 earnings per share. The company's revenue for the quarter was up 144.1% on a year-over-year basis. As a group, analysts forecast that Astera Labs, Inc. will post 0.34 EPS 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.

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