Astera Labs, Inc. (NASDAQ:ALAB) Stock Holdings Raised by Renaissance Capital LLC

Renaissance Capital LLC boosted its position in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 381.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 114,276 shares of the company’s stock after purchasing an additional 90,516 shares during the period. Astera Labs makes up 9.9% of Renaissance Capital LLC’s holdings, making the stock its 2nd largest holding. Renaissance Capital LLC’s holdings in Astera Labs were worth $15,136,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hollencrest Capital Management bought a new stake in shares of Astera Labs during the 3rd quarter valued at about $26,000. Geneos Wealth Management Inc. purchased a new stake in Astera Labs in the fourth quarter valued at approximately $36,000. ORG Wealth Partners LLC bought a new stake in Astera Labs during the fourth quarter valued at approximately $42,000. US Bancorp DE bought a new stake in Astera Labs during the third quarter valued at approximately $46,000. Finally, First Horizon Advisors Inc. purchased a new position in Astera Labs in the 3rd quarter worth approximately $49,000. Institutional investors own 60.47% of the company’s stock.

Astera Labs Stock Down 3.3 %

Shares of NASDAQ ALAB opened at $98.12 on Tuesday. The firm’s fifty day moving average is $122.46 and its 200 day moving average is $80.36. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39.

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

Insider Buying and Selling

In other Astera Labs news, Director Manuel Alba sold 11,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $117.50, for a total value of $1,292,500.00. Following the completion of the sale, the director now owns 456,863 shares in the company, valued at approximately $53,681,402.50. This trade represents a 2.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jitendra Mohan sold 171,064 shares of Astera Labs stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $103.53, for a total value of $17,710,255.92. Following the completion of the sale, the chief executive officer now owns 628,895 shares in the company, valued at approximately $65,109,499.35. This represents a 21.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,690,452 shares of company stock valued at $167,581,256 over the last ninety days.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Morgan Stanley dropped their price target on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Citigroup started coverage on Astera Labs in a research report on Monday, November 18th. They set a “buy” rating and a $120.00 price objective on the stock. Barclays boosted their target price on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, 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 note on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Astera Labs has an average rating of “Buy” and an average price target of $107.42.

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.