Penserra Capital Management LLC Cuts Stock Position in Astera Labs, Inc. $ALAB

Penserra Capital Management LLC trimmed its position in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 10.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,474 shares of the company’s stock after selling 5,370 shares during the period. Penserra Capital Management LLC’s holdings in Astera Labs were worth $8,707,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ALAB. Whittier Trust Co. bought a new stake in Astera Labs in the third quarter worth $55,000. Atlantic Union Bankshares Corp lifted its stake in shares of Astera Labs by 1,338.1% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 302 shares of the company’s stock valued at $59,000 after acquiring an additional 281 shares during the last quarter. Grove Bank & Trust bought a new stake in shares of Astera Labs in the 3rd quarter valued at about $68,000. Bernard Wealth Management Corp. purchased a new stake in Astera Labs during the 2nd quarter valued at about $36,000. Finally, Cullen Frost Bankers Inc. grew its position in Astera Labs by 1,560.0% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 415 shares of the company’s stock worth $81,000 after acquiring an additional 390 shares during the last quarter. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Insider Buying and Selling

In related news, CFO Michael Truett Tate sold 11,430 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $144.69, for a total transaction of $1,653,806.70. Following the sale, the chief financial officer owned 192,297 shares of the company’s stock, valued at $27,823,452.93. The trade was a 5.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jitendra Mohan sold 90,459 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $144.69, for a total transaction of $13,088,512.71. Following the transaction, the chief executive officer directly owned 2,080,418 shares of the company’s stock, valued at $301,015,680.42. This represents a 4.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 576,936 shares of company stock worth $87,409,540 over the last 90 days. Corporate insiders own 12.50% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on ALAB. Morgan Stanley reaffirmed an “overweight” rating and issued a $210.00 target price on shares of Astera Labs in a research note on Wednesday, December 3rd. BNP Paribas Exane initiated coverage on shares of Astera Labs in a research report on Thursday, November 20th. They issued an “outperform” rating on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Astera Labs in a research note on Wednesday, January 21st. Royal Bank Of Canada assumed coverage on Astera Labs in a research note on Wednesday, January 14th. They issued an “outperform” rating and a $225.00 target price on the stock. Finally, Barclays set a $165.00 price target on Astera Labs in a research report on Thursday, January 15th. Fifteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $190.63.

Astera Labs Stock Down 8.7%

ALAB opened at $144.67 on Thursday. Astera Labs, Inc. has a 52 week low of $47.13 and a 52 week high of $262.90. The stock has a market cap of $24.43 billion, a PE ratio of 130.33, a PEG ratio of 2.16 and a beta of 1.50. The business has a 50 day moving average of $164.16 and a 200-day moving average of $172.84.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.10. Astera Labs had a return on equity of 13.48% and a net margin of 27.50%.The business had revenue of $230.58 million during the quarter, compared to the consensus estimate of $206.42 million. During the same quarter in the prior year, the company earned $0.23 earnings per share. The firm’s quarterly revenue was up 103.9% compared to the same quarter last year. Equities analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current year.

About Astera Labs

Astera Labs is a fabless semiconductor company that develops connectivity solutions for data center and cloud infrastructure. The firm focuses on addressing signal integrity and link management challenges that arise as server architectures incorporate higher-bandwidth processors and accelerators. Its technology is aimed at improving reliability and performance for high-speed interconnects used in servers, storage systems and compute accelerators.

The company’s product portfolio centers on silicon devices and accompanying firmware and software that enhance and manage high-speed links.