AXQ Capital LP Makes New Investment in Astera Labs, Inc. (NASDAQ:ALAB)

AXQ Capital LP bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 6,921 shares of the company’s stock, valued at approximately $917,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Fred Alger Management LLC raised its holdings in shares of Astera Labs by 1,361.0% during the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after acquiring an additional 2,628,765 shares during the period. Jennison Associates LLC purchased a new stake in Astera Labs during the fourth quarter worth about $229,991,000. Westfield Capital Management Co. LP purchased a new stake in Astera Labs during the third quarter worth about $52,049,000. The Manufacturers Life Insurance Company increased its stake in Astera Labs by 15,477.8% during the third quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock worth $46,054,000 after purchasing an additional 873,412 shares during the period. Finally, Spyglass Capital Management LLC acquired a new position in shares of Astera Labs during the third quarter worth about $38,565,000. Institutional investors and hedge funds own 60.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ALAB shares. Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a research report on Tuesday, January 28th. Needham & Company LLC reissued a “buy” rating and set a $140.00 price objective on shares of Astera Labs in a research report on Tuesday, February 11th. Morgan Stanley lowered 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. Barclays boosted their price objective on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, Stifel Nicolaus boosted their price objective on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Astera Labs presently has an average rating of “Buy” and an average price target of $112.77.

Astera Labs Trading Up 3.1 %

Shares of NASDAQ ALAB opened at $71.10 on Friday. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39. The stock has a 50 day moving average of $91.24 and a two-hundred day moving average of $88.89. The stock has a market cap of $11.53 billion and a P/E ratio of -41.10.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. As a group, research analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Insider Transactions at Astera Labs

In other news, General Counsel Philip Mazzara sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $87.46, for a total transaction of $4,373,000.00. Following the completion of the sale, the general counsel now owns 191,209 shares in the company, valued at $16,723,139.14. This represents a 20.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael Truett Tate sold 34,474 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total value of $3,174,021.18. Following the sale, the chief financial officer now owns 244,242 shares of the company’s stock, valued at $22,487,360.94. This trade represents a 12.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 570,990 shares of company stock worth $50,242,702 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.