G2 Investment Partners Management LLC Has $3.04 Million Stock Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

G2 Investment Partners Management LLC reduced its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 77.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,933 shares of the company’s stock after selling 81,063 shares during the quarter. G2 Investment Partners Management LLC’s holdings in Astera Labs were worth $3,037,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Astera Labs by 354.9% in the 4th quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company’s stock valued at $1,220,080,000 after buying an additional 7,186,582 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Astera Labs by 2,328.5% during the fourth quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company’s stock worth $519,506,000 after acquiring an additional 3,760,765 shares in the last quarter. JPMorgan Chase & Co. boosted 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 purchasing an additional 792,153 shares during the last quarter. Lord Abbett & CO. LLC grew its stake in Astera Labs by 318.9% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company’s stock valued at $240,873,000 after purchasing an additional 1,384,498 shares in the last quarter. Finally, Jennison Associates LLC acquired a new position in shares of Astera Labs during the 4th quarter worth approximately $229,991,000. Institutional investors own 60.47% of the company’s stock.

Astera Labs Price Performance

ALAB opened at $71.64 on Friday. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The company’s 50 day moving average price is $64.29 and its two-hundred day moving average price is $91.40. The firm has a market capitalization of $11.81 billion, a price-to-earnings ratio of -41.41, a PEG ratio of 6.18 and a beta of 0.33.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.05. The business had revenue of $159.44 million during the quarter, compared to analyst estimates of $151.55 million. Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. Astera Labs’s revenue for the quarter was up 144.1% compared to the same quarter last year. During the same period last year, the company earned $0.10 EPS. As a group, equities research analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

Insider Buying and Selling at Astera Labs

In related news, Director Manuel Alba sold 63,000 shares of the stock in a transaction on 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 represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Philip Mazzara sold 50,000 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $16,723,139.14. The trade was a 20.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 633,990 shares of company stock valued at $54,235,012.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ALAB. Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a research note on Tuesday, January 28th. Citigroup dropped their price target on Astera Labs from $120.00 to $100.00 and set a “buy” rating for the company in a report on Monday, April 14th. Needham & Company LLC dropped their target price on Astera Labs from $140.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday. Stifel Nicolaus reduced their target price on Astera Labs from $150.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Finally, Craig Hallum lifted their target price on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $100.85.

Astera Labs Company 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.