DMC Group LLC Acquires New Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

DMC Group LLC bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,990 shares of the company’s stock, valued at approximately $264,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ALAB. Tidal Investments LLC grew its stake in Astera Labs by 81.8% in the third quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock valued at $2,373,000 after purchasing an additional 20,388 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Astera Labs in the 3rd quarter worth approximately $530,000. Avior Wealth Management LLC bought a new position in shares of Astera Labs during the 3rd quarter worth approximately $361,000. Maverick Capital Ltd. lifted its position in Astera Labs by 16.0% during the third quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock valued at $60,575,000 after acquiring an additional 159,480 shares during the last quarter. Finally, Bank of Hawaii purchased a new position in Astera Labs in the third quarter worth $1,409,000. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Astera Labs Trading Up 0.9 %

NASDAQ ALAB opened at $90.43 on Thursday. The stock has a 50-day simple moving average of $122.75 and a two-hundred day simple moving average of $79.52. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The company had revenue of $113.10 million during the quarter, compared to analysts’ expectations of $97.50 million. The firm’s quarterly revenue was up 47.1% on a year-over-year basis. On average, research analysts anticipate that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Barclays raised their price target on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Craig Hallum upped their price objective on shares of Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Citigroup assumed coverage on shares of Astera Labs in a research note on Monday, November 18th. They issued a “buy” rating and a $120.00 target price for the company. Finally, Roth Mkm raised their price target on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $107.42.

Insider Buying and Selling

In other news, CFO Michael Truett Tate sold 16,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $117.84, for a total value of $1,885,440.00. Following the completion of the sale, the chief financial officer now directly owns 1,412,888 shares in the company, valued at $166,494,721.92. The trade was a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jitendra Mohan sold 171,064 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $103.53, for a total value of $17,710,255.92. Following the transaction, the chief executive officer now owns 628,895 shares in the company, valued at $65,109,499.35. This trade represents a 21.38 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,690,452 shares of company stock valued at $167,581,256.

About Astera Labs

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.