Two Sigma Investments LP Buys 262,661 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Two Sigma Investments LP increased its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 121.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 478,988 shares of the company's stock after purchasing an additional 262,661 shares during the quarter. Two Sigma Investments LP owned approximately 0.30% of Astera Labs worth $63,442,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Astera Labs during the fourth quarter valued at about $25,000. Steward Partners Investment Advisory LLC raised its stake in shares of Astera Labs by 99.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock worth $26,000 after acquiring an additional 99 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in Astera Labs during the fourth quarter valued at approximately $28,000. Geneos Wealth Management Inc. acquired a new stake in Astera Labs in the fourth quarter valued at approximately $36,000. Finally, Global Retirement Partners LLC grew its holdings in Astera Labs by 3,155.6% in 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 during the last quarter. Institutional investors own 60.47% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ALAB. Northland Capmk upgraded Astera Labs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 28th. Citigroup reduced their target price on Astera Labs from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Craig Hallum raised their price target on Astera Labs from $105.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Northland Securities upgraded Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price target on the stock in a research note on Tuesday, January 28th. Finally, Susquehanna initiated coverage on shares of Astera Labs in a research report on Friday. They issued a "neutral" rating and a $80.00 price objective for the company. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Astera Labs presently has an average rating of "Buy" and an average target price of $98.29.

Astera Labs Price Performance

ALAB stock opened at $90.29 on Tuesday. The firm's fifty day simple moving average is $67.05 and its 200-day simple moving average is $92.40. The company has a market capitalization of $14.89 billion, a P/E ratio of -52.19, a price-to-earnings-growth ratio of 6.18 and a beta of 0.33. 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 posted its earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 negative net margin of 21.05% and a negative return on equity of 10.40%. The firm's quarterly revenue was up 144.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 earnings per share. As a group, sell-side analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Insider Activity

In other news, Director Manuel Alba sold 63,000 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at $28,190,968.31. This trade represents a 12.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jitendra Mohan sold 350,680 shares of Astera Labs stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the transaction, the chief executive officer now directly owns 2,353,655 shares of the company's stock, valued at approximately $210,675,659.05. This trade represents a 12.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 904,480 shares of company stock valued at $74,123,601 in the last quarter.

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.

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