Polar Capital Holdings Plc Buys Shares of 957,431 Astera Labs, Inc. (NASDAQ:ALAB)

Polar Capital Holdings Plc acquired a new stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. SeaCrest Wealth Management LLC bought a new stake in shares of Astera Labs in the fourth quarter valued at about $690,000. Park Avenue Securities LLC bought a new stake in shares of Astera Labs in the fourth quarter valued at about $500,000. Wealthcare Advisory Partners LLC boosted its position in shares of Astera Labs by 2.5% in the fourth 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 period. Oak Ridge Investments LLC bought a new stake in shares of Astera Labs in the fourth quarter valued at about $284,000. Finally, Mandatum Life Insurance Co Ltd bought a new stake in shares of Astera Labs in the fourth quarter valued at about $462,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Astera Labs

In other news, CEO Jitendra Mohan sold 75,000 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $90.90, for a total value of $6,817,500.00. Following the completion of the transaction, the chief executive officer now owns 562,500 shares of the company's stock, valued at $51,131,250. This represents a 11.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Michael E. Hurlston sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total value of $230,200.00. Following the completion of the transaction, the director now directly owns 91,794 shares of the company's stock, valued at $8,452,391.52. This represents a 2.65% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 948,990 shares of company stock valued at $78,221,662.

Astera Labs Stock Down 1.8%

Shares of ALAB stock 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 3,930,224. The stock has a market capitalization of $14.93 billion, a PE ratio of -52.35, a price-to-earnings-growth ratio of 6.18 and a beta of 0.33. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39. The business's 50-day moving average is $66.62 and its 200 day moving average is $92.13.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. The firm had revenue of $159.44 million during the quarter, compared to analysts' expectations of $151.55 million. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. The business's revenue for the quarter was up 144.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.10 earnings per share. On average, sell-side analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ALAB shares. Needham & Company LLC reduced 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. Susquehanna started coverage on shares of Astera Labs in a research report on Friday. They issued a "neutral" rating and a $80.00 target price for the company. Craig Hallum boosted their target price on shares of Astera Labs from $105.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. Roth Capital set a $100.00 target price on shares of Astera Labs and gave the company a "buy" rating in a research report on Wednesday, May 7th. Finally, Morgan Stanley raised shares of Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 price objective for the company in a research report on Monday, May 12th. One equities research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $98.29.

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.