Entropy Technologies LP Invests $1.74 Million in Astera Labs, Inc. (NASDAQ:ALAB)

Entropy Technologies LP purchased a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 13,151 shares of the company’s stock, valued at approximately $1,742,000.

A number of other hedge funds have also recently modified their holdings of ALAB. FMR LLC boosted its holdings in 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% during the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock valued at $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 approximately $229,991,000. JPMorgan Chase & Co. grew its position in Astera Labs by 3.1% in the third quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company’s stock worth $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. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ALAB shares. Barclays upped their price target on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Stifel Nicolaus upped their target price on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Roth Mkm lifted their price target on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Northland Securities upgraded 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. Finally, Citigroup started coverage on shares of Astera Labs in a report on Monday, November 18th. They issued a “buy” rating and a $120.00 target price for the company. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Astera Labs currently has an average rating of “Buy” and an average target price of $107.42.

Insider Buying and Selling at Astera Labs

In other news, Director Stefan A. Dyckerhoff sold 197,297 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $90.51, for a total value of $17,857,351.47. Following the sale, the director now directly owns 6,148 shares in the company, valued at approximately $556,455.48. This trade represents a 96.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael Truett Tate sold 16,000 shares of Astera Labs stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $117.84, for a total transaction of $1,885,440.00. Following the sale, the chief financial officer now directly owns 1,412,888 shares of the company’s stock, valued at approximately $166,494,721.92. This trade represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 846,452 shares of company stock valued at $86,427,256 in the last quarter.

Astera Labs Trading Down 3.1 %

Shares of NASDAQ ALAB opened at $101.29 on Monday. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39. The business’s fifty day simple moving average is $122.39 and its 200-day simple moving average is $81.91.

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.