Peregrine Investment Management Inc. Takes $10.70 Million Position in Astera Labs, Inc. (NASDAQ:ALAB)

Peregrine Investment Management Inc. purchased a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 80,790 shares of the company’s stock, valued at approximately $10,701,000. Astera Labs makes up approximately 6.2% of Peregrine Investment Management Inc.’s holdings, making the stock its biggest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Hollencrest Capital Management purchased a new stake in Astera Labs in the 3rd quarter valued at about $26,000. Geneos Wealth Management Inc. bought a new position in shares of Astera Labs in the fourth quarter valued at approximately $36,000. ORG Wealth Partners LLC purchased a new stake in shares of Astera Labs during the fourth quarter valued at approximately $42,000. US Bancorp DE bought a new stake in Astera Labs during the third quarter worth $46,000. Finally, First Horizon Advisors Inc. purchased a new position in Astera Labs in the third quarter worth $49,000. 60.47% of the stock is owned by hedge funds and other institutional investors.

Astera Labs Stock Down 0.4 %

Astera Labs stock opened at $87.85 on Friday. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39. The business has a fifty day moving average price of $120.17 and a 200-day moving average price of $83.22.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. On average, research analysts predict that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on ALAB. Roth Mkm raised their target price on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Northland Capmk raised shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Stifel Nicolaus increased 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. Deutsche Bank Aktiengesellschaft raised their price target on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a research note on Tuesday, January 28th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $115.33.

Insider Activity

In related news, Director Manuel Alba sold 11,000 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $117.50, for a total value of $1,292,500.00. Following the sale, the director now owns 456,863 shares in the company, valued at approximately $53,681,402.50. This trade represents a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Philip Mazzara sold 2,513 shares of Astera Labs stock in a transaction on Monday, November 18th. The shares were sold at an average price of $90.81, for a total value of $228,205.53. Following the sale, the general counsel now directly owns 248,745 shares of the company’s stock, valued at $22,588,533.45. This represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 846,452 shares of company stock worth $86,427,256.

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.