Astera Labs, Inc. (NASDAQ:ALAB) Shares Sold by Spyglass Capital Management LLC

Spyglass Capital Management LLC lessened its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 38.1% during the 4th quarter, Holdings Channel reports. The firm owned 455,312 shares of the company’s stock after selling 280,809 shares during the period. Astera Labs makes up about 3.4% of Spyglass Capital Management LLC’s holdings, making the stock its 18th biggest position. Spyglass Capital Management LLC’s holdings in Astera Labs were worth $60,306,000 at the end of the most recent reporting period.

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

Astera Labs Stock Down 1.8%

Shares of Astera Labs stock opened at $90.56 on Monday. The firm has a market capitalization of $14.93 billion, a P/E ratio of -52.35, a P/E/G ratio of 6.18 and a beta of 0.33. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39. The firm’s 50 day moving average is $66.62 and its two-hundred day moving average is $92.28.

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

Insider Transactions at Astera Labs

In other news, insider Sanjay Gajendra sold 165,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 755,000 shares in the company, valued at approximately $54,178,800. This trade represents a 17.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Manuel Alba sold 63,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the transaction, the director now owns 444,863 shares in the company, valued at approximately $28,190,968.31. This trade represents a 12.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 948,990 shares of company stock worth $78,221,662.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ALAB. Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Citigroup cut 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 note on Monday, April 14th. Susquehanna began coverage on shares of Astera Labs in a research note on Friday. They set a “neutral” rating and a $80.00 target price on the stock. Barclays upped their target price on shares of Astera Labs from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 7th. Finally, Morgan Stanley upgraded 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 note on Monday, May 12th. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Astera Labs currently has a consensus rating of “Buy” and an average price target of $98.29.

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.