Moore Capital Management LP Sells 40,000 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Moore Capital Management LP reduced its stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 80.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,000 shares of the company's stock after selling 40,000 shares during the quarter. Moore Capital Management LP's holdings in Astera Labs were worth $1,324,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Proficio Capital Partners LLC lifted its stake in Astera Labs by 1.8% in the fourth quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company's stock valued at $2,864,000 after buying an additional 390 shares during the period. Peregrine Investment Management Inc. bought a new stake in Astera Labs during the fourth quarter worth $10,701,000. Elemental Capital Partners LLC bought a new stake in Astera Labs during the fourth quarter worth $1,346,000. Renaissance Capital LLC boosted its position in Astera Labs by 381.0% in the fourth quarter. Renaissance Capital LLC now owns 114,276 shares of the company's stock worth $15,136,000 after purchasing an additional 90,516 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Astera Labs by 50.5% in the fourth quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company's stock worth $312,644,000 after purchasing an additional 792,153 shares during the last quarter. 60.47% of the stock is owned by institutional investors and hedge funds.

Astera Labs Stock Performance

ALAB traded down $1.63 on Friday, reaching $90.56. The company had a trading volume of 3,807,931 shares, compared to its average volume of 3,919,320. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39. The company has a market cap of $14.93 billion, a price-to-earnings ratio of -52.35, a P/E/G ratio of 6.18 and a beta of 0.33. The business has a 50 day simple moving average of $66.13 and a 200 day simple moving average of $91.88.

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

Analyst Ratings Changes

Several research firms have weighed in on ALAB. Susquehanna began coverage on Astera Labs in a research report on Friday. They issued a "neutral" rating and a $80.00 price objective on the stock. Northland Securities raised Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price target on the stock in a research report on Tuesday, January 28th. Stifel Nicolaus dropped their price target on Astera Labs from $150.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Roth Capital set a $100.00 price target on Astera Labs and gave the company a "buy" rating in a research report on Wednesday, May 7th. Finally, Barclays upped their price target on Astera Labs from $70.00 to $75.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Astera Labs currently has an average rating of "Buy" and a consensus target price of $98.29.

Insider Buying and Selling

In other news, Director Manuel Alba sold 63,000 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the transaction, the director now directly owns 444,863 shares in the company, valued at approximately $28,190,968.31. This represents a 12.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Philip Mazzara sold 7,536 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total value of $693,839.52. Following the transaction, the general counsel now owns 241,209 shares in the company, valued at $22,208,112.63. This trade represents a 3.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 873,990 shares of company stock worth $71,404,162.

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.