Aigen Investment Management LP Purchases New Position in Astera Labs, Inc. (NASDAQ:ALAB)

Aigen Investment Management LP acquired a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,875 shares of the company’s stock, valued at approximately $1,573,000.

Several other institutional investors and hedge funds also recently modified their holdings of ALAB. US Bancorp DE acquired a new position in Astera Labs during the 3rd quarter worth approximately $46,000. Van ECK Associates Corp acquired a new position in shares of Astera Labs during the third quarter worth $462,000. Hollencrest Capital Management purchased a new position in shares of Astera Labs in the third quarter valued at $26,000. Proficio Capital Partners LLC acquired a new stake in Astera Labs during the 3rd quarter valued at $1,113,000. Finally, TimesSquare Capital Management LLC increased its stake in Astera Labs by 158,424.1% during the 3rd quarter. TimesSquare Capital Management LLC now owns 321,804 shares of the company’s stock worth $16,859,000 after buying an additional 321,601 shares during the period. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ALAB shares. Needham & Company LLC restated a “buy” rating and set a $140.00 target price on shares of Astera Labs in a research note on Tuesday, February 11th. Craig Hallum raised their price objective on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. upped their target price on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Citigroup started coverage on shares of Astera Labs in a research report on Monday, November 18th. They set a “buy” rating and a $120.00 price target for the company. Finally, Stifel Nicolaus upped their price target on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a report on Monday, January 6th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Astera Labs currently has a consensus rating of “Buy” and a consensus target price of $115.33.

Astera Labs Trading Up 2.9 %

Shares of Astera Labs stock opened at $69.63 on Wednesday. The stock has a market capitalization of $11.29 billion and a price-to-earnings ratio of -40.25. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39. The business’s 50 day simple moving average is $109.07 and its 200-day simple moving average is $87.22.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. Sell-side analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Insider Buying and Selling at Astera Labs

In related news, CFO Michael Truett Tate sold 125,800 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $82.53, for a total value of $10,382,274.00. Following the sale, the chief financial officer now directly owns 244,242 shares in the company, valued at $20,157,292.26. This trade represents a 34.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael E. Hurlston sold 2,500 shares of Astera Labs stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total value of $230,200.00. Following the sale, the director now directly owns 91,794 shares in the company, valued at $8,452,391.52. The trade was a 2.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 570,990 shares of company stock valued at $50,242,702 in the last ninety days.

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.