Miura Global Management LLC Makes New Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Miura Global Management LLC bought a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 15,000 shares of the company's stock, valued at approximately $1,987,000. Astera Labs comprises approximately 2.2% of Miura Global Management LLC's investment portfolio, making the stock its 17th biggest holding.

Other large investors have also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. acquired a new position in Astera Labs during the 4th quarter valued at $25,000. Steward Partners Investment Advisory LLC increased its holdings in Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock valued at $26,000 after buying an additional 99 shares during the period. Kestra Investment Management LLC bought a new stake in Astera Labs in the 4th quarter valued at $28,000. Geneos Wealth Management Inc. bought a new stake in Astera Labs in the 4th quarter valued at $36,000. Finally, Global Retirement Partners LLC increased its holdings in Astera Labs by 3,155.6% in the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock valued at $39,000 after buying an additional 284 shares during the period. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ALAB. Northland Securities raised shares of Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price target on the stock in a report on Tuesday, January 28th. Raymond James assumed coverage on shares of Astera Labs in a report on Friday, March 14th. They set an "outperform" rating and a $82.00 price objective on the stock. Needham & Company LLC decreased their price objective on shares of Astera Labs from $140.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Barclays upped their target price on shares of Astera Labs from $70.00 to $75.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Finally, Morgan Stanley upgraded shares of Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 target price on the stock in a research report on Monday, May 12th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $98.29.

Astera Labs Trading Down 1.8%

NASDAQ ALAB traded down $1.63 during trading on Friday, hitting $90.56. 3,807,931 shares of the company's stock were exchanged, compared to its average volume of 3,930,224. The company has a market cap of $14.93 billion, a PE ratio of -52.35, a P/E/G ratio of 6.18 and a beta of 0.33. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The stock's 50 day moving average price is $66.62 and its two-hundred day moving average price is $92.13.

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, topping the consensus estimate of $0.28 by $0.05. The firm had revenue of $159.44 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.10 earnings per share. Analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Sanjay Gajendra sold 165,000 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.76, for a total value 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jitendra Mohan sold 350,680 shares of the company's 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 directly owns 2,353,655 shares of the company's stock, valued at $210,675,659.05. This represents a 12.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold 948,990 shares of company stock valued at $78,221,662 over the last quarter.

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.