Atika Capital Management LLC Boosts Stock Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

Atika Capital Management LLC lifted its stake in Astera Labs, Inc. (NASDAQ:ALAB) by 2,600.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 24,300 shares of the company’s stock after buying an additional 23,400 shares during the period. Atika Capital Management LLC’s holdings in Astera Labs were worth $3,219,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of ALAB. Steward Partners Investment Advisory LLC grew 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 worth $26,000 after acquiring an additional 99 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Astera Labs in the fourth quarter worth $25,000. Kestra Investment Management LLC bought a new stake in Astera Labs during the 4th quarter valued at $28,000. GAMMA Investing LLC boosted its position in Astera Labs by 78.3% during the 4th quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock valued at $68,000 after buying an additional 224 shares during the period. Finally, CIBC Asset Management Inc grew its holdings in Astera Labs by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 4,757 shares of the company’s stock worth $630,000 after acquiring an additional 237 shares during the last quarter. Institutional investors own 60.47% of the company’s stock.

Insider Activity

In other Astera Labs news, General Counsel Philip Mazzara sold 7,536 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were 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 in the company, valued at approximately $22,208,112.63. This trade represents a 3.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael E. Hurlston sold 2,500 shares of Astera Labs stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total transaction of $230,200.00. Following the completion of the transaction, the director now directly owns 91,794 shares of the company’s stock, valued at $8,452,391.52. This trade represents a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 633,990 shares of company stock worth $54,235,012 over the last three months.

Astera Labs Price Performance

NASDAQ:ALAB opened at $52.94 on Friday. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39. The company’s 50-day simple moving average is $78.49 and its 200 day simple moving average is $90.74. The firm has a market capitalization of $8.58 billion and a P/E ratio of -30.60.

Astera Labs (NASDAQ:ALAB) last posted its quarterly 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, equities research analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ALAB has been the subject of several recent analyst reports. Northland Securities raised shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a research note on Tuesday, January 28th. Raymond James assumed coverage on Astera Labs in a report on Friday, March 14th. They issued an “outperform” rating and a $82.00 price objective for the company. Stifel Nicolaus boosted their target price on Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $140.00 price target on shares of Astera Labs in a research note on Tuesday, February 11th. Finally, Morgan Stanley reduced their price objective on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $112.77.

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.