AXQ Capital LP Invests $917,000 in Astera Labs, Inc. (NASDAQ:ALAB)

AXQ Capital LP purchased a new position in Astera Labs, Inc. (NASDAQ:ALAB) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,921 shares of the company’s stock, valued at approximately $917,000.

Other hedge funds have also recently made changes to their positions in the company. Tidal Investments LLC grew its holdings in shares of Astera Labs by 81.8% in the third quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock worth $2,373,000 after purchasing an additional 20,388 shares during the last quarter. Proficio Capital Partners LLC grew its holdings in Astera Labs by 1.8% during the 4th quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company’s stock worth $2,864,000 after acquiring an additional 390 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Astera Labs during the 3rd quarter worth about $530,000. Avior Wealth Management LLC bought a new position in Astera Labs during the 3rd quarter worth about $361,000. Finally, Maverick Capital Ltd. grew its holdings in Astera Labs by 16.0% during the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock worth $60,575,000 after acquiring an additional 159,480 shares in the last quarter. 60.47% of the stock is currently owned by institutional investors.

Insider Transactions at Astera Labs

In related news, Director Michael E. Hurlston sold 2,500 shares of Astera Labs stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total value of $230,200.00. Following the sale, the director now owns 91,794 shares of the company’s stock, valued at approximately $8,452,391.52. This trade represents a 2.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Truett Tate sold 125,800 shares of Astera Labs stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total transaction of $10,382,274.00. Following the completion of the sale, the chief financial officer now directly owns 244,242 shares in the company, valued at $20,157,292.26. This represents a 34.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 570,990 shares of company stock valued at $50,242,702 in the last 90 days.

Analysts Set New Price Targets

ALAB has been the topic of several recent research reports. Raymond James initiated coverage on shares of Astera Labs in a report on Friday, March 14th. They set an “outperform” rating and a $82.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and set a $140.00 target price on shares of Astera Labs in a report on Tuesday, February 11th. Craig Hallum raised their price target on shares of Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Morgan Stanley lowered their price target on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Finally, Barclays raised their price target on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, January 17th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Astera Labs has a consensus rating of “Buy” and a consensus price target of $112.77.

Astera Labs Stock Up 3.1 %

Shares of Astera Labs stock opened at $71.10 on Friday. The firm has a market capitalization of $11.53 billion and a P/E ratio of -41.10. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39. The company has a 50 day moving average price of $91.24 and a 200 day moving average price of $88.89.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. As a group, research analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

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.