10,160 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Bought by Elemental Capital Partners LLC

Elemental Capital Partners LLC bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 10,160 shares of the company’s stock, valued at approximately $1,346,000. Astera Labs accounts for about 1.3% of Elemental Capital Partners LLC’s portfolio, making the stock its 6th biggest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of ALAB. The Manufacturers Life Insurance Company bought a new stake in Astera Labs in the 2nd quarter valued at $341,000. Truist Financial Corp acquired a new stake in shares of Astera Labs in the 2nd quarter valued at $353,000. SG Americas Securities LLC acquired a new position in Astera Labs during the 3rd quarter worth about $594,000. Renaissance Capital LLC lifted its position in Astera Labs by 20.0% during the 3rd quarter. Renaissance Capital LLC now owns 23,760 shares of the company’s stock worth $1,245,000 after buying an additional 3,967 shares in the last quarter. Finally, Seven Grand Managers LLC lifted its position in Astera Labs by 25.0% during the 3rd quarter. Seven Grand Managers LLC now owns 125,000 shares of the company’s stock worth $6,549,000 after buying an additional 25,000 shares in the last quarter. Institutional investors own 60.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Barclays boosted their price objective on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Stifel Nicolaus upped their price target on Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Craig Hallum upped their price target on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a research note on Tuesday, January 28th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $107.42.

Astera Labs Price Performance

NASDAQ ALAB opened at $106.57 on Thursday. The business has a 50 day simple moving average of $122.20 and a 200 day simple moving average of $81.03. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $113.10 million during the quarter, compared to analysts’ expectations of $97.50 million. Astera Labs’s revenue was up 47.1% on a year-over-year basis. Equities analysts expect that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Astera Labs news, Director Manuel Alba sold 11,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $117.50, for a total transaction of $1,292,500.00. Following the completion of the transaction, the director now owns 456,863 shares of the company’s stock, valued at $53,681,402.50. This represents a 2.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Michael Truett Tate sold 16,000 shares of the company’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 transaction, the chief financial officer now directly owns 1,412,888 shares of the company’s stock, valued at approximately $166,494,721.92. This trade represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 858,452 shares of company stock valued at $87,564,136.

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.