Miura Global Management LLC Buys Shares of 15,000 Astera Labs, Inc. (NASDAQ:ALAB)

Miura Global Management LLC bought a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the 4th quarter, Holdings Channel.com reports. The fund bought 15,000 shares of the company’s stock, valued at approximately $1,987,000. Astera Labs comprises approximately 2.2% of Miura Global Management LLC’s investment portfolio, making the stock its 17th largest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. purchased a new position in Astera Labs during the 4th quarter valued at about $25,000. Steward Partners Investment Advisory LLC increased its holdings in Astera Labs by 99.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock valued at $26,000 after acquiring an additional 99 shares in the last quarter. Kestra Investment Management LLC purchased a new position in Astera Labs during the 4th quarter valued at about $28,000. Geneos Wealth Management Inc. purchased a new position in Astera Labs during the 4th quarter valued at about $36,000. Finally, Global Retirement Partners LLC increased its holdings in Astera Labs by 3,155.6% during the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock valued at $39,000 after acquiring an additional 284 shares in the last quarter. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ALAB has been the topic of several analyst reports. Stifel Nicolaus decreased 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 began coverage on shares of Astera Labs in a research report on Friday, March 14th. They set an “outperform” rating and a $82.00 price target on the stock. Craig Hallum lifted their price target 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. Roth Capital set a $100.00 price target on shares of Astera Labs and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Finally, Needham & Company LLC dropped their price target on shares of Astera Labs from $140.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Astera Labs has an average rating of “Buy” and an average price target of $99.69.

Insider Buying and Selling at Astera Labs

In other news, insider Sanjay Gajendra sold 165,000 shares of the company’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $71.76, for a total value of $11,840,400.00. Following the completion of the sale, the insider now directly owns 755,000 shares of the company’s stock, valued at approximately $54,178,800. This represents a 17.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael E. Hurlston sold 2,500 shares of the company’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 completion of the sale, the director now directly owns 91,794 shares of the company’s stock, valued at approximately $8,452,391.52. This represents a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 873,990 shares of company stock valued at $71,404,162 in the last ninety days.

Astera Labs Stock Performance

NASDAQ ALAB opened at $80.28 on Tuesday. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39. The company has a 50-day simple moving average of $64.56 and a 200-day simple moving average of $91.79. The firm has a market capitalization of $13.24 billion, a PE ratio of -46.40, a price-to-earnings-growth ratio of 6.18 and a beta of 0.33.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.05. The firm had revenue of $159.44 million during the quarter, compared to analyst estimates of $151.55 million. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. Astera Labs’s revenue was up 144.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.10 EPS. Equities analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

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.