Renaissance Capital LLC Raises Stock Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

Renaissance Capital LLC boosted its position in Astera Labs, Inc. (NASDAQ:ALAB) by 381.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,276 shares of the company’s stock after purchasing an additional 90,516 shares during the period. Astera Labs accounts for about 9.9% of Renaissance Capital LLC’s portfolio, making the stock its 2nd biggest holding. Renaissance Capital LLC owned about 0.07% of Astera Labs worth $15,136,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Strategic Blueprint LLC lifted its holdings in Astera Labs by 3.6% during the 3rd quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock worth $298,000 after buying an additional 195 shares during the period. GAMMA Investing LLC lifted its stake in shares of Astera Labs by 78.3% in the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock worth $68,000 after acquiring an additional 224 shares during the period. Geneos Wealth Management Inc. acquired a new position in shares of Astera Labs in the fourth quarter worth approximately $36,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Astera Labs by 5.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company’s stock valued at $277,000 after acquiring an additional 284 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new stake in Astera Labs during the 4th quarter valued at approximately $42,000. 60.47% of the stock is owned by institutional investors and hedge funds.

Astera Labs Trading Down 3.3 %

Shares of ALAB opened at $98.12 on Tuesday. The business’s fifty day moving average is $122.46 and its 200 day moving average is $80.36. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month 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 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 analyst estimates of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. Astera Labs’s revenue for the quarter was up 47.1% compared to the same quarter last year. On average, equities research analysts expect that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on ALAB. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Craig Hallum increased their price target on Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price objective on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. 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. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $65.00 target price on shares of Astera Labs in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $107.42.

Insider Buying and Selling

In other Astera Labs news, Director Manuel Alba sold 11,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $117.50, for a total transaction of $1,292,500.00. Following the transaction, the director now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sanjay Gajendra sold 740,000 shares of Astera Labs stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the transaction, the insider now directly owns 775,000 shares in the company, valued at $74,857,250. This represents a 48.84 % 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 worth $167,581,256 in the last quarter.

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.