Bryce Point Capital LLC Makes New $610,000 Investment in Astera Labs, Inc. $ALAB

Bryce Point Capital LLC bought a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the third quarter, HoldingsChannel reports. The fund bought 3,117 shares of the company’s stock, valued at approximately $610,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Astera Labs by 29.6% during the 2nd quarter. Vanguard Group Inc. now owns 12,049,223 shares of the company’s stock worth $1,089,491,000 after purchasing an additional 2,751,747 shares during the last quarter. State Street Corp lifted its stake in shares of Astera Labs by 39.3% during the second quarter. State Street Corp now owns 2,143,459 shares of the company’s stock valued at $193,812,000 after buying an additional 604,363 shares during the period. 1832 Asset Management L.P. boosted its position in Astera Labs by 151.4% during the second quarter. 1832 Asset Management L.P. now owns 1,543,500 shares of the company’s stock worth $139,563,000 after acquiring an additional 929,600 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Astera Labs by 46.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,507,675 shares of the company’s stock worth $295,203,000 after acquiring an additional 479,360 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Astera Labs by 36.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,244,978 shares of the company’s stock worth $112,562,000 after acquiring an additional 330,841 shares during the period. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, General Counsel Philip Mazzara sold 4,620 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $144.69, for a total value of $668,467.80. Following the sale, the general counsel directly owned 147,040 shares of the company’s stock, valued at $21,275,217.60. This represents a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Sanjay Gajendra sold 90,459 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $144.69, for a total transaction of $13,088,512.71. Following the completion of the sale, the chief operating officer directly owned 1,599,750 shares of the company’s stock, valued at $231,467,827.50. The trade was a 5.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 576,936 shares of company stock worth $87,409,540 over the last 90 days. 12.50% of the stock is currently owned by corporate insiders.

Astera Labs Stock Up 10.5%

NASDAQ ALAB opened at $187.67 on Tuesday. The stock has a market cap of $31.70 billion, a PE ratio of 169.07, a P/E/G ratio of 2.32 and a beta of 1.51. The business has a 50 day moving average price of $164.63 and a two-hundred day moving average price of $174.20. Astera Labs, Inc. has a fifty-two week low of $47.13 and a fifty-two week high of $262.90.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Stifel Nicolaus lifted their price objective on Astera Labs from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. JPMorgan Chase & Co. lifted their price target on Astera Labs from $180.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Barclays set a $165.00 price objective on shares of Astera Labs in a report on Thursday, January 15th. Raymond James Financial assumed coverage on shares of Astera Labs in a report on Friday, November 21st. They issued a “hold” rating for the company. Finally, Northland Securities upped their price target on shares of Astera Labs from $175.00 to $195.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 9th. Fifteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $190.63.

Astera Labs Company Profile

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.