Polymer Capital Management HK LTD Acquires Shares of 20,051 Astera Labs, Inc. (NASDAQ:ALAB)

Polymer Capital Management HK LTD bought a new position in Astera Labs, Inc. (NASDAQ:ALAB) during the fourth quarter, HoldingsChannel.com reports. The fund bought 20,051 shares of the company’s stock, valued at approximately $2,656,000.

A number of other institutional investors have also recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Astera Labs by 5.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company’s stock worth $277,000 after purchasing an additional 284 shares in the last quarter. Verition Fund Management LLC bought a new position in shares of Astera Labs in the third quarter worth approximately $1,524,000. Quarry LP purchased a new stake in shares of Astera Labs during the third quarter valued at approximately $109,000. Stifel Financial Corp increased its position in shares of Astera Labs by 141.2% during the third quarter. Stifel Financial Corp now owns 98,461 shares of the company’s stock valued at $5,158,000 after acquiring an additional 57,638 shares in the last quarter. Finally, State Street Corp raised its holdings in Astera Labs by 173.1% in the 3rd quarter. State Street Corp now owns 698,467 shares of the company’s stock worth $36,593,000 after acquiring an additional 442,698 shares during the last quarter. 60.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Astera Labs

In other news, General Counsel Philip Mazzara sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $87.46, for a total value of $4,373,000.00. Following the completion of the sale, the general counsel now owns 191,209 shares of the company’s stock, valued at approximately $16,723,139.14. This represents a 20.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael E. Hurlston sold 2,500 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was 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 represents a 2.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 633,990 shares of company stock worth $54,235,012 in the last 90 days.

Analyst Ratings Changes

Several equities analysts recently issued reports on ALAB shares. Craig Hallum upped their price objective on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Raymond James initiated coverage on Astera Labs in a research report on Friday, March 14th. They set an “outperform” rating and a $82.00 price objective on the stock. Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a research report on Tuesday, January 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price target on shares of Astera Labs in a report on Tuesday, February 11th. Finally, Barclays increased their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $112.77.

Astera Labs Trading Down 4.9 %

Shares of ALAB opened at $52.94 on Friday. The company’s fifty day simple moving average is $78.49 and its 200-day simple moving average is $90.74. The company has a market cap of $8.58 billion and a P/E ratio of -30.60. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. Analysts predict 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.