Two Sigma Advisers LP Buys 306,200 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Two Sigma Advisers LP increased its stake in Astera Labs, Inc. (NASDAQ:ALAB) by 1,275.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 330,200 shares of the company’s stock after purchasing an additional 306,200 shares during the period. Two Sigma Advisers LP’s holdings in Astera Labs were worth $43,735,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Steward Partners Investment Advisory LLC grew its position in Astera Labs by 99.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock valued at $26,000 after acquiring an additional 99 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in Astera Labs in the fourth quarter valued at about $25,000. Kestra Investment Management LLC bought a new position in Astera Labs in the fourth quarter valued at about $28,000. CIBC Asset Management Inc grew its position in Astera Labs by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 4,757 shares of the company’s stock valued at $630,000 after acquiring an additional 237 shares during the last quarter. Finally, Geneos Wealth Management Inc. bought a new position in Astera Labs in the fourth quarter valued at about $36,000. Institutional investors own 60.47% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Needham & Company LLC decreased their target price on Astera Labs from $140.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Susquehanna assumed coverage on Astera Labs in a research report on Friday. They issued a “neutral” rating and a $80.00 target price on the stock. Roth Capital set a $100.00 target price on Astera Labs and gave the company a “buy” rating in a research report on Wednesday, May 7th. Citigroup decreased their target price on Astera Labs from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, Northland Securities raised 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. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Astera Labs has a consensus rating of “Buy” and a consensus price target of $98.29.

Insiders Place Their Bets

In other news, General Counsel Philip Mazzara sold 50,000 shares of the business’s 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 completion of the sale, the general counsel now owns 191,209 shares in the company, valued at $16,723,139.14. The trade was a 20.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Sanjay Gajendra sold 165,000 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $71.76, for a total value of $11,840,400.00. Following the sale, the insider now owns 755,000 shares of the company’s stock, valued at approximately $54,178,800. This represents a 17.93% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 904,480 shares of company stock worth $74,123,601.

Astera Labs Price Performance

Astera Labs stock opened at $90.29 on Tuesday. The stock’s 50 day moving average is $67.05 and its 200 day moving average is $92.40. The firm has a market cap of $14.89 billion, a P/E ratio of -52.19, a P/E/G ratio of 6.18 and a beta of 0.33. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. The business had revenue of $159.44 million during the quarter, compared to the consensus estimate of $151.55 million. Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. The firm’s revenue for the quarter was up 144.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 earnings per share. Equities analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

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.