Polar Capital Holdings Plc Invests $126.81 Million in Astera Labs, Inc. (NASDAQ:ALAB)

Polar Capital Holdings Plc acquired a new stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 957,431 shares of the company's stock, valued at approximately $126,812,000. Polar Capital Holdings Plc owned about 0.60% of Astera Labs as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of ALAB. SeaCrest Wealth Management LLC bought a new position in Astera Labs in the 4th quarter valued at $690,000. Park Avenue Securities LLC bought a new stake in shares of Astera Labs during the 4th quarter valued at $500,000. Wealthcare Advisory Partners LLC raised its position in shares of Astera Labs by 2.5% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 28,619 shares of the company's stock valued at $3,791,000 after acquiring an additional 704 shares during the last quarter. Oak Ridge Investments LLC bought a new stake in shares of Astera Labs during the 4th quarter valued at $284,000. Finally, Mandatum Life Insurance Co Ltd bought a new stake in shares of Astera Labs during the 4th quarter valued at $462,000. 60.47% of the stock is currently owned by institutional investors.

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, insider Sanjay Gajendra sold 165,000 shares of the firm'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 transaction, the insider now owns 755,000 shares in the company, valued at approximately $54,178,800. The trade was a 17.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 904,480 shares of company stock valued at $74,123,601.

Analyst Upgrades and Downgrades

Several analysts have commented on ALAB shares. Morgan Stanley upgraded shares of Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 target price for the company in a research report on Monday, May 12th. Needham & Company LLC dropped their target price on shares of Astera Labs from $140.00 to $100.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Stifel Nicolaus dropped their target price on shares of Astera Labs from $150.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Citigroup dropped their target price on shares of Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Northland Capmk upgraded shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $98.29.

Astera Labs Price Performance

Shares of ALAB stock traded up $3.63 during trading hours on Tuesday, reaching $93.92. The company had a trading volume of 1,897,851 shares, compared to its average volume of 3,922,222. The company has a market cap of $15.49 billion, a price-to-earnings ratio of -54.28, 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 business has a fifty day simple moving average of $67.05 and a 200-day simple moving average of $92.40.

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, topping the consensus estimate of $0.28 by $0.05. The business had revenue of $159.44 million for the quarter, compared to analysts' expectations 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 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. On average, equities research analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current 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.