Warm Springs Advisors Inc. Acquires New Shares in Astera Labs, Inc. (NASDAQ:ALAB)

Warm Springs Advisors Inc. purchased a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 25,000 shares of the company's stock, valued at approximately $3,311,000. Astera Labs comprises 3.1% of Warm Springs Advisors Inc.'s portfolio, making the stock its 10th biggest position.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. raised its position in Astera Labs by 354.9% in the fourth quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company's stock worth $1,220,080,000 after acquiring an additional 7,186,582 shares during the period. Alliancebernstein L.P. increased its position in Astera Labs by 2,328.5% in the fourth quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company's stock worth $519,506,000 after buying an additional 3,760,765 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Astera Labs by 50.5% in the 4th quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company's stock worth $312,644,000 after buying an additional 792,153 shares during the period. 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, Jennison Associates LLC purchased a new stake in Astera Labs during the 4th quarter worth about $229,991,000. 60.47% of the stock is owned by hedge funds and other institutional investors.

Astera Labs Stock Performance

Shares of NASDAQ ALAB traded up $0.86 during trading hours on Thursday, hitting $97.32. The company's stock had a trading volume of 2,384,607 shares, compared to its average volume of 3,985,417. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39. The stock has a market cap of $16.05 billion, a price-to-earnings ratio of -56.23, a P/E/G ratio of 6.18 and a beta of 0.33. The business has a 50-day simple moving average of $70.58 and a 200-day simple moving average of $92.55.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. The firm had revenue of $159.44 million for the quarter, compared to analyst estimates of $151.55 million. Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. The business's quarterly revenue was up 144.1% compared to the same quarter last year. During the same period last year, the company earned $0.10 EPS. On average, equities research analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current year.

Wall Street Analyst Weigh In

ALAB has been the topic of a number of recent analyst reports. Evercore ISI increased their price objective on Astera Labs from $87.00 to $104.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 21st. Craig Hallum upped their target price on shares of Astera Labs from $105.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Needham & Company LLC cut their price objective on Astera Labs from $140.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Citigroup cut 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. Finally, Stifel Nicolaus decreased their price target 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, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Astera Labs presently has a consensus rating of "Buy" and a consensus price target of $100.00.

Insider Buying and Selling at Astera Labs

In other news, CEO Jitendra Mohan sold 75,000 shares of Astera Labs stock in a transaction dated 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 sale, the chief executive officer now owns 575,000 shares of the company's stock, valued at approximately $40,853,750. The trade was a 11.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Philip Mazzara sold 25,000 shares of the firm's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $90.13, for a total transaction of $2,253,250.00. Following the completion of the sale, the general counsel now owns 162,596 shares of the company's stock, valued at $14,654,777.48. This trade represents a 13.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 726,840 shares of company stock valued at $59,511,420.

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.