1,650 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Bought by Zevenbergen Capital Investments LLC

Zevenbergen Capital Investments LLC acquired a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,650 shares of the company’s stock, valued at approximately $219,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tidal Investments LLC boosted its position in shares of Astera Labs by 81.8% during the 3rd quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock valued at $2,373,000 after acquiring an additional 20,388 shares during the last quarter. Proficio Capital Partners LLC raised its stake in Astera Labs by 1.8% in the fourth quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company’s stock valued at $2,864,000 after purchasing an additional 390 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Astera Labs during the third quarter valued at approximately $530,000. Maverick Capital Ltd. increased its stake in Astera Labs by 16.0% in 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 bought a new stake in Astera Labs during the third quarter worth about $1,409,000. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Astera Labs Trading Up 3.1 %

Shares of ALAB stock opened at $71.10 on Monday. The stock has a market capitalization of $11.53 billion and a P/E ratio of -41.10. The firm’s 50 day moving average is $91.24 and its 200 day moving average is $89.57. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. As a group, equities analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Insider Activity at Astera Labs

In other Astera Labs news, General Counsel Philip Mazzara sold 7,536 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 $693,839.52. Following the transaction, the general counsel now owns 241,209 shares of the company’s stock, valued at $22,208,112.63. The trade was a 3.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael E. Hurlston sold 2,500 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total transaction of $230,200.00. Following the sale, the director now owns 91,794 shares in the company, valued at $8,452,391.52. The trade was a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 570,990 shares of company stock worth $50,242,702.

Wall Street Analysts Forecast Growth

ALAB has been the subject of several research reports. Northland Securities raised 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. Craig Hallum upped their price target on shares of Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Morgan Stanley decreased their price objective on shares of 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 initiated coverage on shares of Astera Labs in a report on Friday, March 14th. They set an “outperform” rating and a $82.00 target price for the company. Finally, Barclays boosted their price target on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, January 17th. One 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 data from MarketBeat, the company presently has an average rating of “Buy” and a consensus 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.