Trexquant Investment LP Invests $9.94 Million in Astera Labs, Inc. (NASDAQ:ALAB)

Trexquant Investment LP bought a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 75,053 shares of the company’s stock, valued at approximately $9,941,000.

Several other institutional investors have also bought and sold shares of ALAB. Whittier Trust Co. of Nevada Inc. bought a new position in Astera Labs during the 4th quarter valued at $25,000. Steward Partners Investment Advisory LLC raised its holdings in shares of Astera Labs by 99.0% in the fourth 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 last quarter. Kestra Investment Management LLC bought a new position in shares of Astera Labs during the fourth quarter valued at about $28,000. Geneos Wealth Management Inc. purchased a new position in Astera Labs during the fourth quarter worth about $36,000. Finally, Global Retirement Partners LLC grew its position in Astera Labs by 3,155.6% in the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock worth $39,000 after purchasing an additional 284 shares in the last quarter. Institutional investors own 60.47% of the company’s stock.

Astera Labs Stock Performance

Shares of ALAB opened at $64.08 on Thursday. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39. The stock’s 50-day simple moving average is $81.10 and its 200 day simple moving average is $90.61. The stock has a market capitalization of $10.39 billion and a price-to-earnings ratio of -37.04.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results on Monday, February 10th. The company reported $0.10 earnings per share (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%. On average, research analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, CFO Michael Truett Tate sold 125,800 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $82.53, for a total value of $10,382,274.00. Following the sale, the chief financial officer now owns 244,242 shares of the company’s stock, valued at $20,157,292.26. This trade represents a 34.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Philip Mazzara sold 7,536 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total value of $693,839.52. Following the transaction, the general counsel now directly owns 241,209 shares of the company’s stock, valued at $22,208,112.63. The trade was a 3.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 570,990 shares of company stock valued at $50,242,702 in the last three months.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ALAB. Raymond James initiated coverage on Astera Labs in a research note on Friday, March 14th. They issued an “outperform” rating and a $82.00 target price on the stock. Morgan Stanley cut their price objective on 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. 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 reissued a “buy” rating and issued a $140.00 price target on shares of Astera Labs in a report on Tuesday, February 11th. Finally, Stifel Nicolaus raised 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. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $112.77.

Astera Labs Company 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.