G2 Investment Partners Management LLC Sells 81,063 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

G2 Investment Partners Management LLC reduced its position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 77.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,933 shares of the company's stock after selling 81,063 shares during the period. G2 Investment Partners Management LLC's holdings in Astera Labs were worth $3,037,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ALAB. Vanguard Group Inc. lifted its holdings in shares of Astera Labs by 354.9% in the 4th quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company's stock worth $1,220,080,000 after purchasing an additional 7,186,582 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Astera Labs by 2,328.5% during the 4th quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company's stock valued at $519,506,000 after acquiring an additional 3,760,765 shares in the last quarter. Jennison Associates LLC bought a new position in Astera Labs during the 4th quarter valued at $229,991,000. Lord Abbett & CO. LLC lifted its stake in Astera Labs by 318.9% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company's stock valued at $240,873,000 after acquiring an additional 1,384,498 shares in the last quarter. Finally, Norges Bank bought a new position in Astera Labs during the 4th quarter valued at $179,229,000. 60.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Citigroup dropped their price objective on Astera Labs from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Roth Capital set a $100.00 price objective on Astera Labs and gave the company a "buy" rating in a research note on Wednesday, May 7th. Barclays raised their price objective on Astera Labs from $70.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Northland Securities upgraded Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 target price on the stock in a research note on Tuesday, January 28th. Finally, Needham & Company LLC lowered their target price on Astera Labs from $140.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Astera Labs currently has a consensus rating of "Buy" and a consensus price target of $99.69.

Astera Labs Stock Up 12.8%

Astera Labs stock traded up $9.08 during midday trading on Monday, reaching $80.28. The stock had a trading volume of 6,332,746 shares, compared to its average volume of 3,869,064. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39. The firm's 50-day moving average price is $64.32 and its 200 day moving average price is $91.73. The firm has a market capitalization of $13.24 billion, a PE ratio of -46.40, a P/E/G ratio of 6.18 and a beta of 0.33.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. The business had revenue of $159.44 million during 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 company's quarterly revenue was up 144.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.10 EPS. Equities research analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current year.

Insider Transactions at Astera Labs

In other Astera Labs news, General Counsel Philip Mazzara sold 7,536 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total value of $693,839.52. Following the completion of the sale, the general counsel now owns 241,209 shares of the company's stock, valued at $22,208,112.63. This represents a 3.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jitendra Mohan sold 350,680 shares of the company's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total value of $31,389,366.80. Following the completion of the sale, the chief executive officer now directly owns 2,353,655 shares of the company's stock, valued at approximately $210,675,659.05. This represents a 12.97% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 873,990 shares of company stock valued at $71,404,162.

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.