Next Capital Management LLC Acquires New Holdings in Astera Labs, Inc. $ALAB

Next Capital Management LLC acquired a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,182 shares of the company’s stock, valued at approximately $469,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Alliancebernstein L.P. increased its position in shares of Astera Labs by 114.2% in the first quarter. Alliancebernstein L.P. now owns 8,401,019 shares of the company’s stock valued at $501,289,000 after acquiring an additional 4,478,741 shares during the last quarter. Atreides Management LP increased its position in Astera Labs by 153.3% during the first quarter. Atreides Management LP now owns 4,652,264 shares of the company’s stock worth $277,601,000 after buying an additional 2,815,614 shares during the last quarter. FengHe Fund Management Pte. Ltd. bought a new stake in Astera Labs in the second quarter valued at approximately $106,772,000. Bank of Nova Scotia lifted its position in shares of Astera Labs by 3,742.2% in the first quarter. Bank of Nova Scotia now owns 964,400 shares of the company’s stock valued at $57,546,000 after buying an additional 939,300 shares during the last quarter. Finally, Jump Financial LLC bought a new position in shares of Astera Labs during the 1st quarter worth approximately $32,998,000. Institutional investors and hedge funds own 60.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ALAB. Northland Securities cut Astera Labs from an “outperform” rating to a “market perform” rating and set a $120.00 price target on the stock. in a research note on Tuesday, July 22nd. Barclays reiterated an “equal weight” rating and issued a $155.00 price objective on shares of Astera Labs in a report on Monday, October 20th. Bank of America initiated coverage on shares of Astera Labs in a research note on Friday, October 3rd. They set a “neutral” rating and a $230.00 target price for the company. Northland Capmk lowered shares of Astera Labs from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 22nd. Finally, Morgan Stanley increased their price target on shares of Astera Labs from $155.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, August 29th. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $162.06.

Astera Labs Stock Performance

Shares of Astera Labs stock opened at $191.56 on Tuesday. The firm has a 50-day moving average of $196.78 and a 200-day moving average of $137.86. Astera Labs, Inc. has a 52-week low of $47.13 and a 52-week high of $262.90. The stock has a market cap of $31.84 billion, a PE ratio of 342.07, a PEG ratio of 4.66 and a beta of 1.38.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.11. Astera Labs had a net margin of 16.54% and a return on equity of 9.53%. The business had revenue of $191.93 million for the quarter, compared to analyst estimates of $172.46 million. During the same period last year, the firm earned $0.13 earnings per share. Astera Labs’s revenue for the quarter was up 149.5% compared to the same quarter last year. Equities research analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Jitendra Mohan sold 152,517 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $170.33, for a total transaction of $25,978,220.61. Following the transaction, the chief executive officer directly owned 450,001 shares of the company’s stock, valued at approximately $76,648,670.33. This trade represents a 25.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stefan A. Dyckerhoff sold 25,000 shares of Astera Labs stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $173.42, for a total transaction of $4,335,500.00. Following the completion of the sale, the director owned 99,154 shares of the company’s stock, valued at approximately $17,195,286.68. The trade was a 20.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 1,092,997 shares of company stock worth $192,231,120. Insiders own 12.50% of the company’s stock.

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.