Occudo Quantitative Strategies LP Makes New $2.65 Million Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Occudo Quantitative Strategies LP purchased a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 20,000 shares of the company's stock, valued at approximately $2,649,000.

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

Insiders Place Their Bets

In other Astera Labs news, CFO Michael Truett Tate sold 34,474 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total transaction of $3,174,021.18. Following the transaction, the chief financial officer now directly owns 244,242 shares of the company's stock, valued at approximately $22,487,360.94. The trade was a 12.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jitendra Mohan sold 350,680 shares of the company's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the completion of the transaction, the chief executive officer now owns 2,353,655 shares of the company's stock, valued at $210,675,659.05. This trade represents a 12.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 948,990 shares of company stock worth $78,221,662.

Astera Labs Price Performance

ALAB traded down $1.63 during trading on Friday, hitting $90.56. 3,807,931 shares of the stock traded hands, compared to its average volume of 3,919,320. The firm has a market capitalization of $14.93 billion, a P/E ratio of -52.35, a price-to-earnings-growth ratio of 6.18 and a beta of 0.33. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39. The firm has a 50-day moving average of $66.13 and a 200 day moving average of $91.88.

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, topping analysts' consensus estimates of $0.28 by $0.05. The company had revenue of $159.44 million during the quarter, compared to analyst estimates of $151.55 million. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. Astera Labs's revenue for the quarter was up 144.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 earnings per share. As a group, equities analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ALAB shares. Susquehanna started coverage on Astera Labs in a research note on Friday. They issued a "neutral" rating and a $80.00 target price on the stock. Northland Securities upgraded Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price objective for the company in a report on Tuesday, January 28th. Needham & Company LLC decreased their price objective on Astera Labs from $140.00 to $100.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Northland Capmk raised Astera Labs from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 28th. Finally, Raymond James initiated coverage on shares of Astera Labs in a research note on Friday, March 14th. They set an "outperform" rating and a $82.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $98.29.

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.