35,487 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Acquired by Voleon Capital Management LP

Voleon Capital Management LP bought a new position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 35,487 shares of the company's stock, valued at approximately $4,700,000.

A number of other institutional investors have also bought and sold shares of the business. Tidal Investments LLC boosted its stake in shares of Astera Labs by 81.8% in the third quarter. Tidal Investments LLC now owns 45,298 shares of the company's stock worth $2,373,000 after acquiring an additional 20,388 shares during the period. Proficio Capital Partners LLC boosted its stake in Astera Labs by 1.8% in the 4th quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company's stock worth $2,864,000 after purchasing an additional 390 shares during the period. Peregrine Investment Management Inc. purchased a new stake in Astera Labs during the 4th quarter valued at approximately $10,701,000. Elemental Capital Partners LLC bought a new stake in shares of Astera Labs during the fourth quarter valued at approximately $1,346,000. Finally, Renaissance Capital LLC lifted its holdings in shares of 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 buying an additional 90,516 shares in the last quarter. Hedge funds and other institutional investors own 60.47% of the company's stock.

Analyst Ratings Changes

ALAB has been the subject of several research analyst reports. Craig Hallum raised their target price on shares of Astera Labs from $105.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Morgan Stanley cut their price objective on Astera Labs from $142.00 to $114.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 28th. Northland Securities upgraded Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 target price on the stock in a research report on Tuesday, January 28th. Barclays raised their price target on Astera Labs from $87.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, January 17th. Finally, Citigroup decreased their price objective on Astera Labs from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Monday, April 14th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $109.25.

Astera Labs Trading Up 3.0 %

NASDAQ:ALAB traded up $2.05 during midday trading on Friday, hitting $71.27. 3,197,445 shares of the company traded hands, compared to its average volume of 3,818,391. The firm's fifty day moving average is $64.57 and its 200-day moving average is $91.26. The firm has a market capitalization of $11.75 billion, a P/E ratio of -41.20, a P/E/G ratio of 6.18 and a beta of 0.32. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its earnings results on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate 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%. On average, research analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Insider Buying and Selling at Astera Labs

In other news, CEO Jitendra Mohan sold 350,680 shares of Astera Labs 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 sale, the chief executive officer now directly owns 2,353,655 shares in the company, valued at approximately $210,675,659.05. This trade represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Manuel Alba sold 63,000 shares of the company's 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 completion of the transaction, the director now owns 444,863 shares in the company, valued at approximately $28,190,968.31. The trade was a 12.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 633,990 shares of company stock worth $54,235,012 over the last 90 days.

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.