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

Bryce Point Capital LLC acquired a new stake in Astera Labs, Inc. (NASDAQ:ALAB) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,117 shares of the company’s stock, valued at approximately $610,000.

Several other large investors have also made changes to their positions in the business. Royal Bank of Canada increased its holdings in Astera Labs by 167.3% in the 1st quarter. Royal Bank of Canada now owns 152,453 shares of the company’s stock worth $9,097,000 after acquiring an additional 95,409 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Astera Labs by 213.4% during the first quarter. AQR Capital Management LLC now owns 11,391 shares of the company’s stock valued at $680,000 after purchasing an additional 7,756 shares in the last quarter. Empowered Funds LLC grew its position in shares of Astera Labs by 917.3% in the first quarter. Empowered Funds LLC now owns 4,639 shares of the company’s stock valued at $277,000 after purchasing an additional 4,183 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of Astera Labs during the second quarter worth about $559,000. Finally, Maryland State Retirement & Pension System raised its position in shares of Astera Labs by 37.7% during the 2nd quarter. Maryland State Retirement & Pension System now owns 6,960 shares of the company’s stock worth $629,000 after purchasing an additional 1,906 shares during the last quarter. 60.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the company. JPMorgan Chase & Co. increased their target price on Astera Labs from $180.00 to $215.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Stifel Nicolaus increased their price objective on Astera Labs from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Needham & Company LLC raised their price objective on Astera Labs from $205.00 to $220.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Morgan Stanley reaffirmed an “overweight” rating and set a $210.00 target price on shares of Astera Labs in a report on Wednesday, December 3rd. Finally, TD Cowen reissued a “hold” rating on shares of Astera Labs in a research note on Wednesday, November 5th. Fifteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Astera Labs currently has an average rating of “Moderate Buy” and an average price target of $190.63.

Astera Labs Stock Up 10.5%

Shares of ALAB opened at $187.67 on Tuesday. Astera Labs, Inc. has a fifty-two week low of $47.13 and a fifty-two week high of $262.90. The firm’s 50 day moving average price is $164.63 and its 200 day moving average price is $174.20. The company has a market cap of $31.70 billion, a P/E ratio of 169.07, a PEG ratio of 2.32 and a beta of 1.51.

Insider Buying and Selling at Astera Labs

In related news, CEO Jitendra Mohan sold 90,459 shares of Astera Labs stock in a transaction 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 sale, the chief executive officer directly owned 2,080,418 shares in the company, valued at $301,015,680.42. This trade represents a 4.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Philip Mazzara sold 4,620 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $144.69, for a total transaction of $668,467.80. Following the sale, the general counsel owned 147,040 shares of the company’s stock, valued at $21,275,217.60. This trade represents a 3.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 576,936 shares of company stock worth $87,409,540. 12.50% of the stock is currently owned by corporate insiders.

Astera Labs 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.