Boothbay Fund Management LLC Sells 22,784 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Boothbay Fund Management LLC trimmed its position in Astera Labs, Inc. (NASDAQ:ALAB) by 59.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 15,823 shares of the company’s stock after selling 22,784 shares during the period. Boothbay Fund Management LLC’s holdings in Astera Labs were worth $2,096,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Astera Labs by 354.9% in the 4th quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company’s stock worth $1,220,080,000 after purchasing an additional 7,186,582 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Astera Labs by 2,328.5% in the fourth quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company’s stock valued at $519,506,000 after acquiring an additional 3,760,765 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Astera Labs by 50.5% in the fourth quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company’s stock valued at $312,644,000 after acquiring an additional 792,153 shares during the last quarter. Lord Abbett & CO. LLC boosted its stake in Astera Labs by 318.9% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company’s stock valued at $240,873,000 after acquiring an additional 1,384,498 shares during the last quarter. Finally, Jennison Associates LLC purchased a new position in Astera Labs in the fourth quarter valued at about $229,991,000. 60.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Citigroup dropped their target price on shares of Astera Labs from $120.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Stifel Nicolaus dropped their price target on shares of Astera Labs from $150.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Raymond James assumed coverage on shares of Astera Labs in a research note on Friday, March 14th. They set an “outperform” rating and a $82.00 price target on the stock. Morgan Stanley reduced their target price on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Finally, Craig Hallum boosted their target price on Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $109.25.

Astera Labs Trading Up 2.4 %

ALAB opened at $66.11 on Monday. The stock has a 50-day moving average price of $66.35 and a 200-day moving average price of $91.53. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39. The stock has a market capitalization of $10.72 billion and a P/E ratio of -38.21.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data 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, equities research analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

Insider Activity

In other Astera Labs news, CEO Jitendra Mohan sold 350,680 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the completion of the transaction, the chief executive officer now owns 2,353,655 shares of the company’s stock, valued at $210,675,659.05. This represents a 12.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Manuel Alba sold 63,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $63.37, for a total value of $3,992,310.00. Following the transaction, the director now directly owns 444,863 shares of the company’s stock, valued at $28,190,968.31. The trade was a 12.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 633,990 shares of company stock valued at $54,235,012.

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.