Astera Labs, Inc. (NASDAQ:ALAB) Shares Sold by Tidal Investments LLC

Tidal Investments LLC lessened its position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 29.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 31,956 shares of the company's stock after selling 13,342 shares during the period. Tidal Investments LLC's holdings in Astera Labs were worth $4,233,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC raised its holdings in Astera Labs by 1.8% during the fourth quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company's stock worth $2,864,000 after purchasing an additional 390 shares in the last quarter. Peregrine Investment Management Inc. acquired a new position in Astera Labs during the 4th quarter worth approximately $10,701,000. Elemental Capital Partners LLC purchased a new position in shares of Astera Labs during the 4th quarter worth approximately $1,346,000. Renaissance Capital LLC raised its stake in shares of Astera Labs by 381.0% during the 4th quarter. Renaissance Capital LLC now owns 114,276 shares of the company's stock worth $15,136,000 after buying an additional 90,516 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Astera Labs by 50.5% in the 4th quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company's stock valued at $312,644,000 after buying an additional 792,153 shares during the period. Institutional investors and hedge funds own 60.47% of the company's stock.

Astera Labs Stock Up 0.3%

Shares of Astera Labs stock traded up $0.32 during trading on Monday, hitting $94.62. 3,223,727 shares of the company were exchanged, compared to its average volume of 3,988,631. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The firm 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 capitalization of $15.60 billion, a price-to-earnings ratio of -54.69, 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, topping the consensus estimate 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 during 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. Astera Labs's revenue was up 144.1% compared to the same quarter last year. Analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ALAB. Roth Capital set a $100.00 price objective on Astera Labs and gave the stock a "buy" rating in a report on Wednesday, May 7th. Needham & Company LLC decreased their target price on shares of Astera Labs from $140.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Susquehanna assumed coverage on shares of Astera Labs in a research note on Friday, May 16th. They set a "neutral" rating and a $80.00 price target on the stock. William Blair initiated coverage on shares of Astera Labs in a report on Thursday. They issued an "outperform" rating for the company. Finally, Morgan Stanley raised shares of Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 price objective on the stock in a report on Monday, May 12th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $100.00.

Insider Activity at Astera Labs

In related news, CEO Jitendra Mohan sold 75,000 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $71.05, for a total transaction of $5,328,750.00. Following the transaction, the chief executive officer now owns 575,000 shares of the company's stock, valued at approximately $40,853,750. This represents a 11.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Manuel Alba sold 63,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the sale, the director now owns 444,863 shares in the company, valued at approximately $28,190,968.31. This trade represents a 12.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 852,640 shares of company stock valued at $69,893,694.

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.