Astera Labs, Inc. (NASDAQ:ALAB) Shares Sold by PDT Partners LLC

PDT Partners LLC lowered its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 28.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,036 shares of the company's stock after selling 9,964 shares during the period. PDT Partners LLC's holdings in Astera Labs were worth $3,316,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. acquired a new stake in Astera Labs in the 4th quarter valued at about $25,000. Steward Partners Investment Advisory LLC raised 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 valued at $26,000 after buying an additional 99 shares during the period. Kestra Investment Management LLC acquired a new stake in shares of Astera Labs during the fourth quarter worth about $28,000. Geneos Wealth Management Inc. acquired a new stake in Astera Labs during the 4th quarter worth approximately $36,000. Finally, Global Retirement Partners LLC raised its stake in shares of Astera Labs by 3,155.6% in the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock valued at $39,000 after acquiring an additional 284 shares in the last quarter. Institutional investors and hedge funds own 60.47% of the company's stock.

Insider Buying and Selling at Astera Labs

In related news, Director Michael E. Hurlston sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total transaction of $230,200.00. Following the completion of the transaction, the director now owns 91,794 shares in the company, valued at $8,452,391.52. The trade was a 2.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Philip Mazzara sold 50,000 shares of the business's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $87.46, for a total transaction of $4,373,000.00. Following the transaction, the general counsel now directly owns 191,209 shares of the company's stock, valued at approximately $16,723,139.14. This trade represents a 20.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 633,990 shares of company stock valued at $54,235,012 in the last ninety days.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Citigroup decreased their price target on shares of Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Barclays upped their target price on Astera Labs from $87.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, January 17th. Northland Securities raised shares of Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price objective on the stock in a research report on Tuesday, January 28th. Craig Hallum upped their price target on Astera Labs from $105.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $140.00 price target on shares of Astera Labs in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $109.25.

Astera Labs Stock Up 3.0 %

Shares of Astera Labs stock traded up $2.05 during trading on Friday, hitting $71.27. 3,197,445 shares of the company were exchanged, compared to its average volume of 3,818,390. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The stock has a market capitalization of $11.56 billion and a price-to-earnings ratio of -41.20. The firm has a 50 day moving average price of $64.70 and a 200 day moving average price of $91.19.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.16). Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. Analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

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.