Astera Labs, Inc. (NASDAQ:ALAB) is Nicholas Investment Partners LP’s 5th Largest Position

Nicholas Investment Partners LP grew its stake in Astera Labs, Inc. (NASDAQ:ALAB) by 55.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 149,271 shares of the company’s stock after acquiring an additional 53,098 shares during the quarter. Astera Labs accounts for 1.7% of Nicholas Investment Partners LP’s portfolio, making the stock its 5th biggest holding. Nicholas Investment Partners LP owned about 0.09% of Astera Labs worth $19,771,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Astera Labs during the fourth quarter valued at approximately $25,000. Steward Partners Investment Advisory LLC boosted its stake in Astera Labs by 99.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock valued at $26,000 after purchasing an additional 99 shares during the last quarter. Kestra Investment Management LLC bought a new stake in shares of Astera Labs in the 4th quarter worth $28,000. Geneos Wealth Management Inc. bought a new stake in shares of Astera Labs in the 4th quarter worth $36,000. Finally, Global Retirement Partners LLC raised its stake in shares of Astera Labs by 3,155.6% in the fourth 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 last quarter. 60.47% of the stock is owned by hedge funds and other institutional investors.

Astera Labs Price Performance

Shares of Astera Labs stock opened at $87.76 on Wednesday. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39. The company’s fifty day simple moving average is $65.04 and its 200-day simple moving average is $91.76. The stock has a market capitalization of $14.47 billion, a PE ratio of -50.73, a P/E/G ratio of 6.18 and a beta of 0.33.

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

Insider Activity at Astera Labs

In other Astera Labs news, insider Sanjay Gajendra sold 165,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.76, for a total transaction of $11,840,400.00. Following the completion of the transaction, the insider now owns 755,000 shares in the company, valued at $54,178,800. This trade represents a 17.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jitendra Mohan sold 350,680 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 873,990 shares of company stock worth $71,404,162.

Analyst Upgrades and Downgrades

Several research firms recently commented on ALAB. Needham & Company LLC dropped their price objective on Astera Labs from $140.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Northland Securities upgraded 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 note on Tuesday, January 28th. 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 decreased their price objective on shares of Astera Labs from $120.00 to $100.00 and set a “buy” rating for the company in a report on Monday, April 14th. 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 report on Monday. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Astera Labs has a consensus rating of “Buy” and an average target price of $99.69.

Astera Labs 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.