Quantinno Capital Management LP Buys Shares of 4,140 Astera Labs, Inc. (NASDAQ:ALAB)

Quantinno Capital Management LP bought a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,140 shares of the company's stock, valued at approximately $548,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Astera Labs during the fourth quarter valued at approximately $25,000. Steward Partners Investment Advisory LLC lifted its position in Astera Labs by 99.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock worth $26,000 after purchasing an additional 99 shares during the period. Kestra Investment Management LLC bought a new position in Astera Labs during the 4th quarter valued at $28,000. Geneos Wealth Management Inc. acquired a new position in shares of Astera Labs during the 4th quarter valued at $36,000. Finally, Global Retirement Partners LLC raised its stake in shares of Astera Labs by 3,155.6% in the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock worth $39,000 after buying an additional 284 shares in the last quarter. 60.47% of the stock is currently owned by institutional investors.

Astera Labs Stock Performance

Shares of ALAB stock traded down $6.88 during trading on Friday, hitting $89.73. 2,032,892 shares of the company were exchanged, compared to its average volume of 3,994,646. The business's 50-day simple moving average is $71.04 and its 200 day simple moving average is $92.58. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39. The firm has a market capitalization of $14.80 billion, a price-to-earnings ratio of -52.13, a P/E/G ratio of 6.18 and a beta of 0.33.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its earnings results 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. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. The company had revenue of $159.44 million during the quarter, compared to the consensus estimate of $151.55 million. During the same quarter in the prior year, the firm earned $0.10 EPS. The company's revenue was up 144.1% compared to the same quarter last year. On average, equities analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Citigroup decreased their target price on Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Raymond James initiated coverage on shares of Astera Labs in a research report on Friday, March 14th. They set an "outperform" rating and a $82.00 price objective for the company. William Blair initiated coverage on shares of Astera Labs in a report on Thursday, May 22nd. They issued an "outperform" rating on the stock. Morgan Stanley raised shares of Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 target price for the company in a research note on Monday, May 12th. Finally, Susquehanna began coverage on shares of Astera Labs in a research report on Friday, May 16th. They issued a "neutral" rating and a $80.00 price target on the stock. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $100.00.

Insider Activity at Astera Labs

In related news, General Counsel Philip Mazzara sold 25,000 shares of the stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $90.13, for a total value of $2,253,250.00. Following the transaction, the general counsel now owns 162,596 shares in the company, valued at approximately $14,654,777.48. This represents a 13.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Sanjay Gajendra sold 165,000 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The shares were 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 in the company, valued at approximately $54,178,800. The trade was a 17.93% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 891,840 shares of company stock valued at $75,722,670.

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.