Cinctive Capital Management LP Takes $4.58 Million Position in Astera Labs, Inc. (NASDAQ:ALAB)

Cinctive Capital Management LP bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 87,343 shares of the company’s stock, valued at approximately $4,576,000. Cinctive Capital Management LP owned 0.06% of Astera Labs as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. FMR LLC lifted its holdings in shares of Astera Labs by 0.7% in the third quarter. FMR LLC now owns 23,504,038 shares of the company’s stock valued at $1,231,377,000 after purchasing an additional 153,491 shares in the last quarter. Fred Alger Management LLC grew its stake in shares of Astera Labs by 1,361.0% during the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after acquiring an additional 2,628,765 shares in the last quarter. Maverick Capital Ltd. raised its holdings in shares of Astera Labs by 16.0% in the third quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock valued at $60,575,000 after purchasing an additional 159,480 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of Astera Labs in the third quarter worth $52,049,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in Astera Labs by 15,477.8% during the third quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock worth $46,054,000 after purchasing an additional 873,412 shares during the last quarter.

Insider Transactions at Astera Labs

In other Astera Labs news, insider Sanjay Gajendra sold 76,701 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $45.32, for a total value of $3,476,089.32. Following the transaction, the insider now directly owns 855,000 shares of the company’s stock, valued at $38,748,600. This trade represents a 8.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Manuel Alba sold 63,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $50.00, for a total transaction of $3,150,000.00. Following the completion of the transaction, the director now owns 506,863 shares of the company’s stock, valued at $25,343,150. The trade was a 11.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,897,820 shares of company stock valued at $168,252,298.

Astera Labs Stock Up 0.1 %

Shares of ALAB stock opened at $103.39 on Tuesday. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $113.85. The company has a 50-day simple moving average of $75.22 and a 200 day simple moving average of $60.88.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.06. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The firm had revenue of $113.10 million for the quarter, compared to analysts’ expectations of $97.50 million. The business’s revenue was up 47.1% compared to the same quarter last year. Equities research analysts predict that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ALAB shares. Needham & Company LLC reiterated a “buy” rating and issued a $65.00 price target on shares of Astera Labs in a research note on Wednesday, October 9th. JPMorgan Chase & Co. upped their target price on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Morgan Stanley boosted their price target on Astera Labs from $74.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their price objective on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Craig Hallum boosted their target price on shares of Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $94.67.

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.