Discovery Capital Management LLC CT Invests $8.68 Million in Astera Labs, Inc. (NASDAQ:ALAB)

Discovery Capital Management LLC CT purchased a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 65,500 shares of the company’s stock, valued at approximately $8,675,000.

Several other large investors have also recently added to or reduced their stakes in ALAB. Whittier Trust Co. of Nevada Inc. acquired a new position in Astera Labs in the fourth quarter valued at approximately $25,000. Steward Partners Investment Advisory LLC boosted its position 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 period. Kestra Investment Management LLC bought a new position in Astera Labs during the 4th quarter worth $28,000. Geneos Wealth Management Inc. acquired a new stake in Astera Labs in the fourth quarter worth $36,000. Finally, Global Retirement Partners LLC lifted its stake in Astera Labs by 3,155.6% in the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock valued at $39,000 after buying an additional 284 shares during the last quarter. 60.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Barclays increased their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Stifel Nicolaus raised their price target on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Morgan Stanley reduced their price objective on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research report on Tuesday, January 28th. Finally, Craig Hallum boosted their price target on Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Astera Labs has an average rating of “Buy” and a consensus price target of $112.77.

Insider Buying and Selling at Astera Labs

In other news, Director Michael E. Hurlston sold 2,500 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total value of $230,200.00. Following the transaction, the director now owns 91,794 shares in the company, valued at $8,452,391.52. This represents a 2.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Philip Mazzara sold 7,536 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total transaction of $693,839.52. Following the completion of the sale, the general counsel now directly owns 241,209 shares of the company’s stock, valued at $22,208,112.63. This trade represents a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 570,990 shares of company stock valued at $50,242,702 in the last three months.

Astera Labs Trading Down 1.8 %

Shares of ALAB opened at $59.67 on Tuesday. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39. The stock has a market capitalization of $9.68 billion and a P/E ratio of -34.49. The business’s 50-day moving average price is $83.53 and its 200 day moving average price is $90.67.

Astera Labs (NASDAQ:ALAB) last released its earnings results on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate 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%. On average, research analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

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.