Tower Research Capital LLC TRC Acquires 1,587 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Tower Research Capital LLC TRC raised its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 84.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,476 shares of the company’s stock after acquiring an additional 1,587 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Astera Labs were worth $460,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ALAB. Tidal Investments LLC increased its holdings in Astera Labs by 81.8% in the 3rd quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock worth $2,373,000 after buying an additional 20,388 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Astera Labs by 1.8% during the 4th quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company’s stock valued at $2,864,000 after acquiring an additional 390 shares during the last quarter. Peregrine Investment Management Inc. purchased a new stake in shares of Astera Labs during the 4th quarter valued at about $10,701,000. Elemental Capital Partners LLC purchased a new position in shares of Astera Labs during the fourth quarter valued at approximately $1,346,000. Finally, Renaissance Capital LLC lifted its position in Astera Labs by 381.0% during the fourth quarter. Renaissance Capital LLC now owns 114,276 shares of the company’s stock valued at $15,136,000 after purchasing an additional 90,516 shares during the period. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Astera Labs Stock Performance

Shares of Astera Labs stock opened at $65.65 on Wednesday. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The company has a market capitalization of $10.65 billion and a P/E ratio of -37.95. The company has a fifty day moving average of $65.42 and a 200 day moving average of $91.34.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data 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 return on equity of 10.40% and a negative net margin of 21.05%. Analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current year.

Insider Buying and Selling at Astera Labs

In related news, Director Michael E. Hurlston sold 2,500 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total transaction 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 approximately $8,452,391.52. This trade represents a 2.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Manuel Alba sold 63,000 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the transaction, the director now directly owns 444,863 shares of the company’s stock, valued at $28,190,968.31. This trade represents a 12.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 633,990 shares of company stock valued at $54,235,012 in the last three months.

Analysts Set New Price Targets

A number of research firms have commented on ALAB. Craig Hallum lifted their target price 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 raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a report on Tuesday, January 28th. Citigroup cut their price target on Astera Labs from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Raymond James began coverage on shares of Astera Labs in a research note on Friday, March 14th. They issued an “outperform” rating and a $82.00 price objective on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $140.00 target price on shares of Astera Labs in a research report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $109.25.

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.