Atika Capital Management LLC Grows Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

Atika Capital Management LLC grew its position in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 2,600.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,300 shares of the company’s stock after buying an additional 23,400 shares during the quarter. Atika Capital Management LLC’s holdings in Astera Labs were worth $3,219,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Astera Labs by 354.9% in the fourth quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company’s stock worth $1,220,080,000 after purchasing an additional 7,186,582 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Astera Labs by 2,328.5% in the 4th quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company’s stock worth $519,506,000 after buying an additional 3,760,765 shares during the last quarter. JPMorgan Chase & Co. grew its position in Astera Labs by 50.5% during the fourth quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company’s stock valued at $312,644,000 after buying an additional 792,153 shares during the period. Jennison Associates LLC purchased a new stake in Astera Labs during the fourth quarter worth about $229,991,000. Finally, Massachusetts Financial Services Co. MA raised its position in Astera Labs by 418.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,674,000 shares of the company’s stock worth $221,721,000 after acquiring an additional 1,351,007 shares during the period. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Insider Transactions at Astera Labs

In other news, 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 value of $3,992,310.00. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Philip Mazzara sold 7,536 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total value of $693,839.52. Following the transaction, the general counsel now owns 241,209 shares in the company, valued at $22,208,112.63. This trade represents a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 633,990 shares of company stock valued at $54,235,012 in the last quarter.

Astera Labs Stock Performance

Astera Labs stock opened at $52.94 on Friday. The stock has a market cap of $8.58 billion and a P/E ratio of -30.60. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The firm’s fifty day moving average price is $78.49 and its 200-day moving average price is $90.74.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings results on Monday, February 10th. The company reported $0.10 earnings per share (EPS) 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 predict that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Analysts Set New Price Targets

ALAB has been the subject of several research analyst reports. Morgan Stanley decreased their price target on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Barclays boosted their target price on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Craig Hallum boosted their price objective on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $140.00 target price on shares of Astera Labs in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $112.77.

About Astera Labs

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.