Calamos Advisors LLC Takes $1.69 Million Position in Astera Labs, Inc. (NASDAQ:ALAB)

Calamos Advisors LLC bought a new position in Astera Labs, Inc. (NASDAQ:ALAB) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,785 shares of the company’s stock, valued at approximately $1,693,000.

Other hedge funds have also modified their holdings of the company. FMR LLC boosted its holdings in shares of Astera Labs by 0.7% in the 3rd quarter. FMR LLC now owns 23,504,038 shares of the company’s stock valued at $1,231,377,000 after purchasing an additional 153,491 shares during the last quarter. Fred Alger Management LLC raised its position in shares of Astera Labs by 1,361.0% in the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after buying an additional 2,628,765 shares during the period. Jennison Associates LLC acquired a new position in Astera Labs in the fourth quarter valued at $229,991,000. JPMorgan Chase & Co. grew its position in Astera Labs by 3.1% during the third quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company’s stock valued at $82,164,000 after acquiring an additional 47,569 shares during the period. Finally, Maverick Capital Ltd. increased its stake in Astera Labs by 16.0% during the third quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock worth $60,575,000 after acquiring an additional 159,480 shares during the last quarter. 60.47% of the stock is owned by institutional investors and hedge funds.

Astera Labs Stock Up 3.7 %

Shares of ALAB opened at $101.73 on Wednesday. The business’s 50 day moving average is $122.27 and its two-hundred day moving average is $80.67. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm’s quarterly revenue was up 47.1% compared to the same quarter last year. Equities analysts forecast that Astera Labs, Inc. will post -0.45 EPS for the current year.

Insider Transactions at Astera Labs

In other Astera Labs news, General Counsel Philip Mazzara sold 2,513 shares of Astera Labs stock in a transaction on Monday, November 18th. The shares were sold at an average price of $90.81, for a total value of $228,205.53. Following the completion of the transaction, the general counsel now owns 248,745 shares of the company’s stock, valued at $22,588,533.45. The trade was a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Manuel Alba sold 11,000 shares of the 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 sale, the director now directly owns 456,863 shares in the company, valued at $53,681,402.50. This trade represents a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,640,452 shares of company stock valued at $163,096,256.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ALAB shares. Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a report on Tuesday, January 28th. Northland Capmk raised shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Roth Mkm lifted their target price on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their price target on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Craig Hallum boosted their price objective on Astera Labs from $75.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus 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.