Voloridge Investment Management LLC Invests $48.86 Million in Astera Labs, Inc. (NASDAQ:ALAB)

Voloridge Investment Management LLC acquired a new position in Astera Labs, Inc. (NASDAQ:ALAB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 368,917 shares of the company’s stock, valued at approximately $48,863,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC increased its position in shares of Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock valued at $26,000 after buying an additional 99 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in Astera Labs during the 4th quarter worth approximately $25,000. Kestra Investment Management LLC purchased a new stake in Astera Labs in the 4th quarter worth approximately $28,000. CIBC Asset Management Inc boosted its holdings in Astera Labs by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 4,757 shares of the company’s stock valued at $630,000 after purchasing an additional 237 shares during the period. Finally, Geneos Wealth Management Inc. purchased a new position in shares of Astera Labs during the 4th quarter valued at $36,000. 60.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, CEO Jitendra Mohan sold 75,000 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $71.05, for a total transaction of $5,328,750.00. Following the sale, the chief executive officer now directly owns 575,000 shares in the company, valued at approximately $40,853,750. This trade represents a 11.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Philip Mazzara sold 25,000 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $90.13, for a total value of $2,253,250.00. Following the sale, the general counsel now directly owns 162,596 shares in the company, valued at $14,654,777.48. This trade represents a 13.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 774,390 shares of company stock worth $62,721,629.

Analyst Ratings Changes

Several analysts have weighed in on the company. Citigroup lowered their price target on Astera Labs from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Roth Capital set a $100.00 target price on shares of Astera Labs and gave the company a “buy” rating in a research note on Wednesday, May 7th. Northland Securities raised shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a report on Tuesday, January 28th. Stifel Nicolaus dropped their price objective on shares of Astera Labs from $150.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Finally, Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $98.29.

Astera Labs Stock Up 4.6%

Shares of NASDAQ:ALAB opened at $94.46 on Wednesday. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39. The company’s fifty day moving average is $67.63 and its 200 day moving average is $92.42. The stock has a market cap of $15.58 billion, a PE ratio of -54.60, a PEG ratio of 6.18 and a beta of 0.33.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $151.55 million. During the same period in the previous year, the firm earned $0.10 EPS. The company’s quarterly revenue was up 144.1% compared to the same quarter last year. Sell-side analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current 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.