GSG Advisors LLC Makes New $1.20 Million Investment in Astera Labs, Inc. (NASDAQ:ALAB)

GSG Advisors LLC purchased a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 9,078 shares of the company’s stock, valued at approximately $1,202,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Gunderson Capital Management Inc. acquired a new position in shares of Astera Labs during the fourth quarter worth $4,876,000. Harbour Capital Advisors LLC acquired a new position in Astera Labs during the 4th quarter worth about $439,000. ORG Wealth Partners LLC acquired a new position in Astera Labs during the 4th quarter worth about $42,000. Everence Capital Management Inc. bought a new stake in shares of Astera Labs in the 4th quarter valued at about $513,000. Finally, GAMMA Investing LLC increased its stake in shares of Astera Labs by 78.3% in the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock valued at $68,000 after buying an additional 224 shares during the period. 60.47% of the stock is currently owned by institutional investors.

Astera Labs Stock Performance

NASDAQ ALAB opened at $127.19 on Tuesday. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39. The business has a 50 day moving average price of $116.88 and a 200-day moving average price of $74.77.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The business had revenue of $113.10 million during the quarter, compared to analyst estimates of $97.50 million. The business’s revenue for the quarter was up 47.1% compared to the same quarter last year. Equities research analysts forecast that Astera Labs, Inc. will post -0.45 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Citigroup initiated coverage on shares of Astera Labs in a research note on Monday, November 18th. They issued a “buy” rating and a $120.00 price objective on the stock. Barclays lifted their target price on shares of Astera Labs from $70.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Northland Securities cut shares of Astera Labs from an “outperform” rating to a “market perform” rating and upped their price target for the company from $100.00 to $120.00 in a research report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $105.75.

Insider Buying and Selling

In related news, insider Sanjay Gajendra sold 740,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the transaction, the insider now directly owns 775,000 shares of the company’s stock, valued at $74,857,250. This trade represents a 48.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Manuel Alba sold 11,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now directly owns 456,863 shares of the company’s stock, valued at $53,681,402.50. The trade was a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,690,452 shares of company stock worth $167,581,256 in the last quarter.

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.