Point72 Asset Management L.P. Sells 278,734 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Point72 Asset Management L.P. lessened its stake in Astera Labs, Inc. (NASDAQ:ALAB) by 87.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 40,000 shares of the company’s stock after selling 278,734 shares during the quarter. Point72 Asset Management L.P.’s holdings in Astera Labs were worth $5,298,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Astera Labs in the 4th quarter worth approximately $25,000. Steward Partners Investment Advisory LLC raised its holdings in shares of Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after purchasing an additional 99 shares during the period. Kestra Investment Management LLC bought a new stake in shares of Astera Labs in the 4th quarter worth approximately $28,000. Geneos Wealth Management Inc. bought a new stake in shares of Astera Labs in the 4th quarter worth approximately $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 worth $39,000 after purchasing an additional 284 shares during the period. Institutional investors own 60.47% of the company’s stock.

Insider Buying and Selling

In related news, Director Manuel Alba sold 63,000 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total value of $3,992,310.00. Following the transaction, the director now owns 444,863 shares of the company’s stock, valued at $28,190,968.31. This represents a 12.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jitendra Mohan sold 350,680 shares of Astera Labs stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total value of $31,389,366.80. Following the sale, the chief executive officer now directly owns 2,353,655 shares of the company’s stock, valued at approximately $210,675,659.05. This trade represents a 12.97% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 904,480 shares of company stock worth $74,123,601.

Astera Labs Price Performance

ALAB opened at $90.29 on Tuesday. The company has a fifty day moving average price of $67.05 and a 200-day moving average price of $92.40. The firm has a market capitalization of $14.89 billion, a P/E ratio of -52.19, a price-to-earnings-growth ratio of 6.18 and a beta of 0.33. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. The firm had revenue of $159.44 million during 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 business’s revenue for the quarter was up 144.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.10 EPS. On average, analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Analyst Ratings Changes

ALAB has been the topic of a number of research reports. Roth Capital set a $100.00 price target on shares of Astera Labs and gave the stock a “buy” rating in a report on Wednesday, May 7th. Needham & Company LLC reduced their price objective on shares of Astera Labs from $140.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Northland Securities upgraded shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a research note on Tuesday, January 28th. Finally, Citigroup reduced their price objective on shares of Astera Labs from $120.00 to $100.00 and set a “buy” rating for the company in a research note on Monday, April 14th. One 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $98.29.

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.