Point72 Asset Management L.P. Has $5.30 Million Position in Astera Labs, Inc. (NASDAQ:ALAB)

Point72 Asset Management L.P. reduced its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 87.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,000 shares of the company’s stock after selling 278,734 shares during the period. Point72 Asset Management L.P.’s holdings in Astera Labs were worth $5,298,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Astera Labs by 354.9% during the 4th 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 period. Alliancebernstein L.P. grew its holdings in Astera Labs by 2,328.5% during the 4th 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 during the period. JPMorgan Chase & Co. grew its holdings in Astera Labs by 50.5% during the 4th quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company’s stock worth $312,644,000 after acquiring an additional 792,153 shares during the period. Lord Abbett & CO. LLC grew its holdings in Astera Labs by 318.9% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company’s stock worth $240,873,000 after acquiring an additional 1,384,498 shares during the period. Finally, Jennison Associates LLC acquired a new stake in Astera Labs during the 4th quarter worth about $229,991,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Astera Labs news, CEO Jitendra Mohan sold 75,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $90.90, for a total transaction of $6,817,500.00. Following the transaction, the chief executive officer now owns 562,500 shares of the company’s stock, valued at $51,131,250. This trade represents a 11.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Philip Mazzara sold 50,000 shares of Astera Labs 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 transaction, the general counsel now directly owns 191,209 shares in the company, valued at approximately $16,723,139.14. This represents a 20.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 904,480 shares of company stock valued at $74,123,601 in the last 90 days.

Astera Labs Stock Performance

Shares of NASDAQ ALAB opened at $90.29 on Tuesday. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The stock has a market cap of $14.89 billion, a price-to-earnings ratio of -52.19, a PEG ratio of 6.18 and a beta of 0.33. The firm’s 50-day simple moving average is $67.05 and its 200 day simple moving average is $92.40.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Needham & Company LLC decreased their price target on Astera Labs from $140.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Susquehanna assumed coverage on Astera Labs in a research note on Friday. They issued a “neutral” rating and a $80.00 target price for the company. Stifel Nicolaus reduced their target price on Astera Labs from $150.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Craig Hallum raised their target price on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. One research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $98.29.

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.