Quantinno Capital Management LP Invests $548,000 in Astera Labs, Inc. (NASDAQ:ALAB)

Quantinno Capital Management LP purchased a new position in Astera Labs, Inc. (NASDAQ:ALAB) during the fourth quarter, Holdings Channel.com reports. The firm purchased 4,140 shares of the company’s stock, valued at approximately $548,000.

Other hedge funds have also modified their holdings of the company. Proficio Capital Partners LLC increased its stake in shares of Astera Labs by 1.8% in the fourth quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company’s stock worth $2,864,000 after acquiring an additional 390 shares during the last quarter. Peregrine Investment Management Inc. acquired a new position in shares of Astera Labs in the fourth quarter worth $10,701,000. Elemental Capital Partners LLC acquired a new position in shares of Astera Labs in the fourth quarter worth $1,346,000. Renaissance Capital LLC increased its stake in shares of Astera Labs by 381.0% in the fourth quarter. Renaissance Capital LLC now owns 114,276 shares of the company’s stock worth $15,136,000 after acquiring an additional 90,516 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Astera Labs by 50.5% in the fourth quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company’s stock worth $312,644,000 after acquiring an additional 792,153 shares during the last quarter. 60.47% of the stock is owned by institutional investors and hedge funds.

Astera Labs Price Performance

ALAB stock opened at $94.62 on Friday. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39. The company has a 50-day moving average of $68.99 and a two-hundred day moving average of $92.54. The stock has a market capitalization of $15.60 billion, a price-to-earnings ratio of -54.69, a price-to-earnings-growth ratio of 6.18 and a beta of 0.33.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. The company had revenue of $159.44 million during the quarter, compared to analysts’ expectations of $151.55 million. During the same period in the prior year, the company earned $0.10 earnings per share. The business’s quarterly revenue was up 144.1% compared to the same quarter last year. Equities analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Insider Buying and Selling at Astera Labs

In related news, General Counsel Philip Mazzara sold 25,000 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $90.13, for a total value of $2,253,250.00. Following the completion of the sale, the general counsel now owns 162,596 shares in the company, valued at approximately $14,654,777.48. This trade represents a 13.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sanjay Gajendra sold 165,000 shares of the stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.76, for a total transaction of $11,840,400.00. Following the completion of the sale, the insider now owns 755,000 shares of the company’s stock, valued at approximately $54,178,800. The trade was a 17.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold 852,640 shares of company stock worth $69,893,694 over the last ninety days.

Analyst Ratings Changes

Several equities analysts have commented on ALAB shares. Stifel Nicolaus lowered their target price on shares of Astera Labs from $150.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Northland Securities raised shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research report on Tuesday, January 28th. Citigroup lowered their target price on shares of Astera Labs from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Needham & Company LLC lowered their target price on shares of Astera Labs from $140.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Finally, Morgan Stanley raised shares of Astera Labs from an “equal weight” rating to an “overweight” rating and set a $99.00 target price on the stock in a research report on Monday, May 12th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $100.00.

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.