Quantbot Technologies LP Buys New Shares in Astera Labs, Inc. (NASDAQ:ALAB)

Quantbot Technologies LP purchased a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 30,998 shares of the company’s stock, valued at approximately $4,106,000.

Several other institutional investors have also recently made changes to their positions in ALAB. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Astera Labs in the fourth quarter valued at $25,000. Steward Partners Investment Advisory LLC lifted its stake in Astera Labs by 99.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock valued at $26,000 after acquiring an additional 99 shares during the last quarter. Kestra Investment Management LLC bought a new position in shares of Astera Labs in the 4th quarter valued at about $28,000. Geneos Wealth Management Inc. acquired a new position in shares of Astera Labs during the 4th quarter worth about $36,000. Finally, Global Retirement Partners LLC raised its holdings in shares of Astera Labs by 3,155.6% in the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock valued at $39,000 after purchasing an additional 284 shares during the period. Institutional investors and hedge funds own 60.47% of the company’s stock.

Astera Labs Trading Up 3.1 %

NASDAQ ALAB opened at $71.10 on Friday. The company has a market cap of $11.53 billion and a price-to-earnings ratio of -41.10. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39. The company has a 50 day moving average of $91.24 and a 200-day moving average of $88.89.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data 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 net margin of 21.05% and a negative return on equity of 10.40%. On average, equities research analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Jitendra Mohan sold 350,680 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the completion of the sale, the chief executive officer now owns 2,353,655 shares of the company’s stock, valued at approximately $210,675,659.05. This represents a 12.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Michael Truett Tate sold 34,474 shares of Astera Labs stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total transaction of $3,174,021.18. Following the completion of the transaction, the chief financial officer now directly owns 244,242 shares in the company, valued at $22,487,360.94. This trade represents a 12.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 570,990 shares of company stock valued at $50,242,702 over the last quarter.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Morgan Stanley lowered their price target on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Raymond James assumed coverage on Astera Labs in a research note on Friday, March 14th. They issued an “outperform” rating and a $82.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price objective on shares of Astera Labs in a research report on Tuesday, February 11th. Stifel Nicolaus increased their price objective on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, Northland Securities upgraded shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Astera Labs has a consensus rating of “Buy” and an average price target of $112.77.

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.