Discovery Capital Management LLC CT Buys Shares of 65,500 Astera Labs, Inc. (NASDAQ:ALAB)

Discovery Capital Management LLC CT acquired a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 65,500 shares of the company’s stock, valued at approximately $8,675,000.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Astera Labs by 354.9% during the fourth quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company’s stock worth $1,220,080,000 after acquiring an additional 7,186,582 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of Astera Labs by 2,328.5% in the fourth quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company’s stock valued at $519,506,000 after purchasing an additional 3,760,765 shares during the period. JPMorgan Chase & Co. grew its position in shares of Astera Labs by 50.5% in the fourth quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company’s stock valued at $312,644,000 after purchasing an additional 792,153 shares during the period. Jennison Associates LLC acquired a new position in Astera Labs in the fourth quarter valued at $229,991,000. Finally, Norges Bank purchased a new position in Astera Labs during the fourth quarter worth about $179,229,000. 60.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Northland Capmk raised shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Craig Hallum upped their price target on shares of Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Northland Securities upgraded shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a report on Tuesday, January 28th. Stifel Nicolaus upped their price objective on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Barclays lifted their target price on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, January 17th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $112.77.

Astera Labs Stock Down 1.8 %

NASDAQ ALAB opened at $59.67 on Tuesday. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The business has a 50 day moving average price of $83.53 and a two-hundred day moving average price of $90.67. The stock has a market cap of $9.68 billion and a PE ratio of -34.49.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results 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%. Sell-side analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Insider Transactions at Astera Labs

In other Astera Labs news, General Counsel Philip Mazzara sold 7,536 shares of Astera Labs stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total transaction of $693,839.52. Following the sale, the general counsel now directly owns 241,209 shares in the company, valued at $22,208,112.63. The trade was a 3.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Truett Tate sold 34,474 shares of the firm’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 transaction of $3,174,021.18. Following the sale, the chief financial officer now directly owns 244,242 shares of the company’s stock, valued at $22,487,360.94. The trade was a 12.37 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 570,990 shares of company stock valued at $50,242,702.

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.