Astera Labs, Inc. $ALAB Shares Purchased by 1832 Asset Management L.P.

1832 Asset Management L.P. increased its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 151.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,543,500 shares of the company’s stock after acquiring an additional 929,600 shares during the quarter. 1832 Asset Management L.P.’s holdings in Astera Labs were worth $139,563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Alliancebernstein L.P. grew its position in Astera Labs by 114.2% during the 1st quarter. Alliancebernstein L.P. now owns 8,401,019 shares of the company’s stock worth $501,289,000 after purchasing an additional 4,478,741 shares during the period. Atreides Management LP boosted its stake in shares of Astera Labs by 153.3% in the first quarter. Atreides Management LP now owns 4,652,264 shares of the company’s stock worth $277,601,000 after buying an additional 2,815,614 shares during the last quarter. Vanguard Group Inc. grew its holdings in Astera Labs by 29.6% during the second quarter. Vanguard Group Inc. now owns 12,049,223 shares of the company’s stock worth $1,089,491,000 after acquiring an additional 2,751,747 shares during the period. FengHe Fund Management Pte. Ltd. acquired a new stake in Astera Labs during the second quarter worth about $106,772,000. Finally, Jump Financial LLC purchased a new position in Astera Labs during the first quarter valued at approximately $32,998,000. 60.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Astera Labs

In other Astera Labs news, CEO Jitendra Mohan sold 90,459 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $144.69, for a total value of $13,088,512.71. Following the transaction, the chief executive officer owned 2,080,418 shares of the company’s stock, valued at $301,015,680.42. This represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Michael Truett Tate sold 11,430 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $144.69, for a total transaction of $1,653,806.70. Following the transaction, the chief financial officer directly owned 192,297 shares of the company’s stock, valued at approximately $27,823,452.93. This trade represents a 5.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 403,936 shares of company stock valued at $58,920,200 in the last quarter. Corporate insiders own 12.50% of the company’s stock.

Astera Labs Stock Down 13.5%

Shares of Astera Labs stock opened at $142.94 on Wednesday. The firm has a market cap of $24.14 billion, a PE ratio of 128.77, a price-to-earnings-growth ratio of 3.08 and a beta of 1.51. Astera Labs, Inc. has a 52 week low of $47.13 and a 52 week high of $262.90. The business’s fifty day simple moving average is $172.77 and its 200-day simple moving average is $150.19.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. BNP Paribas began coverage on Astera Labs in a research report on Thursday, November 20th. They issued an “outperform” rating on the stock. Barclays reiterated an “equal weight” rating and issued a $155.00 target price on shares of Astera Labs in a research note on Monday, October 20th. Northland Securities set a $175.00 price target on shares of Astera Labs in a research report on Monday, November 17th. Wall Street Zen downgraded shares of Astera Labs from a “buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Finally, Susquehanna increased their target price on shares of Astera Labs from $80.00 to $125.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $187.06.

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.