MIG Capital LLC Takes Position in Astera Labs, Inc. (NASDAQ:ALAB)

MIG Capital LLC purchased a new position in Astera Labs, Inc. (NASDAQ:ALAB) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,689 shares of the company’s stock, valued at approximately $356,000. Astera Labs makes up 0.0% of MIG Capital LLC’s portfolio, making the stock its 25th biggest holding.

A number of other large investors also recently bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Astera Labs during the fourth quarter valued at approximately $25,000. Steward Partners Investment Advisory LLC grew its stake in shares of Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after buying an additional 99 shares during the last quarter. Kestra Investment Management LLC bought a new position in Astera Labs during the 4th quarter valued at approximately $28,000. Geneos Wealth Management Inc. purchased a new position in Astera Labs during the fourth quarter valued at $36,000. Finally, Global Retirement Partners LLC boosted its holdings in Astera Labs by 3,155.6% in the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock worth $39,000 after acquiring an additional 284 shares in the last quarter. 60.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Manuel Alba sold 63,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the completion of the transaction, the director now directly owns 444,863 shares in the company, valued at approximately $28,190,968.31. The trade was a 12.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael E. Hurlston sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total transaction of $230,200.00. Following the sale, the director now owns 91,794 shares in the company, valued at approximately $8,452,391.52. The trade was a 2.65 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 633,990 shares of company stock valued at $54,235,012.

Astera Labs Stock Down 4.9 %

Astera Labs stock opened at $52.94 on Friday. The business has a 50-day simple moving average of $78.49 and a two-hundred day simple moving average of $90.74. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39. The company has a market cap of $8.58 billion and a P/E ratio of -30.60.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates 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%. Research analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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