Astera Labs, Inc. (NASDAQ:ALAB) Shares Purchased by Two Sigma Advisers LP

Two Sigma Advisers LP raised its position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 1,275.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 330,200 shares of the company's stock after acquiring an additional 306,200 shares during the quarter. Two Sigma Advisers LP owned approximately 0.21% of Astera Labs worth $43,735,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ALAB. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Astera Labs in the fourth quarter worth about $25,000. Steward Partners Investment Advisory LLC grew its position in shares of Astera Labs by 99.0% during 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 in the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Astera Labs during the fourth quarter worth about $28,000. Geneos Wealth Management Inc. purchased a new stake in shares of Astera Labs during the fourth quarter worth about $36,000. Finally, Global Retirement Partners LLC grew its position in shares of Astera Labs by 3,155.6% during the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock worth $39,000 after purchasing an additional 284 shares in the last quarter. Institutional investors own 60.47% of the company's stock.

Astera Labs Price Performance

Shares of NASDAQ:ALAB traded up $0.32 on Friday, hitting $94.62. 3,223,727 shares of the company's stock were exchanged, compared to its average volume of 3,988,631. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39. The stock has a market capitalization of $15.60 billion, a price-to-earnings ratio of -54.69, a price-to-earnings-growth ratio of 6.18 and a beta of 0.33. The business's 50 day simple moving average is $68.99 and its two-hundred day simple moving average is $92.54.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. The business had revenue of $159.44 million for the quarter, compared to the consensus estimate of $151.55 million. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. The company'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. Equities analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on ALAB. Susquehanna initiated coverage on Astera Labs in a report on Friday, May 16th. They set a "neutral" rating and a $80.00 price target for the company. Craig Hallum raised their target price on shares of Astera Labs from $105.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Evercore ISI raised their target price on shares of Astera Labs from $87.00 to $104.00 and gave the company an "outperform" rating in a report on Wednesday. Northland Capmk raised shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 28th. Finally, Roth Capital set a $100.00 target price on shares of Astera Labs and gave the company a "buy" rating in a report on Wednesday, May 7th. One research 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 company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $100.00.

Insiders Place Their Bets

In related news, CEO Jitendra Mohan sold 75,000 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $90.90, for a total transaction of $6,817,500.00. Following the sale, the chief executive officer now owns 562,500 shares in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Manuel Alba sold 63,000 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were 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 represents a 12.40% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 852,640 shares of company stock worth $69,893,694.

Astera Labs 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.