Nicholas Investment Partners LP Has $19.77 Million Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

Nicholas Investment Partners LP lifted its holdings in Astera Labs, Inc. (NASDAQ:ALAB) by 55.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 149,271 shares of the company’s stock after purchasing an additional 53,098 shares during the period. Astera Labs comprises approximately 1.7% of Nicholas Investment Partners LP’s portfolio, making the stock its 5th largest holding. Nicholas Investment Partners LP’s holdings in Astera Labs were worth $19,771,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in ALAB. Nuveen Asset Management LLC grew its stake in Astera Labs by 901.1% in the fourth quarter. Nuveen Asset Management LLC now owns 477,612 shares of the company’s stock worth $63,260,000 after purchasing an additional 429,903 shares in the last quarter. Numerai GP LLC purchased a new stake in shares of Astera Labs in the 4th quarter worth $2,519,000. Occudo Quantitative Strategies LP bought a new position in shares of Astera Labs during the 4th quarter worth $2,649,000. Miura Global Management LLC bought a new position in shares of Astera Labs during the 4th quarter worth $1,987,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Astera Labs during the fourth quarter valued at $1,543,000. 60.47% of the stock is currently owned by institutional investors.

Insider Transactions at Astera Labs

In related news, CEO Jitendra Mohan sold 350,680 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total value of $31,389,366.80. Following the transaction, the chief executive officer now directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Philip Mazzara sold 7,536 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total value of $693,839.52. Following the completion of the transaction, the general counsel now owns 241,209 shares of the company’s stock, valued at $22,208,112.63. This trade represents a 3.03% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 873,990 shares of company stock worth $71,404,162.

Analysts Set New Price Targets

ALAB has been the subject of a number of research reports. Barclays upped their price objective on shares of Astera Labs from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 7th. Northland Securities raised shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a report on Tuesday, January 28th. Needham & Company LLC decreased their price objective on Astera Labs from $140.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Finally, Citigroup decreased their price target on shares of Astera Labs from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $99.69.

Astera Labs Stock Performance

Astera Labs stock opened at $87.76 on Wednesday. The stock has a market cap of $14.47 billion, a PE ratio of -50.73, a price-to-earnings-growth ratio of 6.18 and a beta of 0.33. The stock has a 50-day moving average of $65.04 and a two-hundred day moving average of $91.76. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39.

Astera Labs (NASDAQ:ALAB) last released its earnings results on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. The company had revenue of $159.44 million during the quarter, compared to analysts’ expectations of $151.55 million. During the same period last year, the business earned $0.10 EPS. Astera Labs’s revenue for the quarter was up 144.1% on a year-over-year basis. As a group, sell-side analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Astera Labs 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.