Graham Capital Management L.P. Acquires Shares of 20,115 Astera Labs, Inc. (NASDAQ:ALAB)

Graham Capital Management L.P. acquired a new stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 20,115 shares of the company's stock, valued at approximately $2,664,000.

Several other large investors also recently added to or reduced their stakes in ALAB. Proficio Capital Partners LLC raised its holdings in shares of Astera Labs by 1.8% in the 4th quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company's stock valued at $2,864,000 after purchasing an additional 390 shares in the last quarter. Peregrine Investment Management Inc. bought a new position in shares of Astera Labs during the 4th quarter worth approximately $10,701,000. Elemental Capital Partners LLC bought 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 acquiring an additional 90,516 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Astera Labs by 50.5% during the 4th quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company's stock worth $312,644,000 after acquiring an additional 792,153 shares in the last quarter. 60.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ALAB has been the subject of several recent analyst reports. Craig Hallum boosted their price objective on shares of Astera Labs from $105.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Citigroup dropped their target price on shares of Astera Labs from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Stifel Nicolaus dropped their target price on shares of Astera Labs from $150.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Needham & Company LLC dropped 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. Finally, Roth Capital set a $100.00 target price on shares of Astera Labs and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $99.69.

Insider Buying and Selling at Astera Labs

In related news, 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 value of $31,389,366.80. Following the completion of the transaction, the chief executive officer now owns 2,353,655 shares in the company, valued at $210,675,659.05. The trade was a 12.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sanjay Gajendra sold 165,000 shares of Astera Labs stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.76, for a total transaction of $11,840,400.00. Following the completion of the transaction, the insider now owns 755,000 shares of the company's stock, valued at $54,178,800. This represents a 17.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 873,990 shares of company stock worth $71,404,162 over the last three months.

Astera Labs Stock Performance

Shares of NASDAQ ALAB traded up $2.90 during mid-day trading on Wednesday, reaching $90.66. The company's stock had a trading volume of 6,101,832 shares, compared to its average volume of 3,905,977. The stock has a 50-day moving average of $65.04 and a two-hundred day moving average of $91.76. The stock has a market capitalization of $14.95 billion, a P/E ratio of -52.40, a P/E/G ratio of 6.18 and a beta of 0.33. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued 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 during the quarter, compared to analysts' expectations 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 quarterly revenue was up 144.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.10 earnings per share. Analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Astera Labs Company 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.