Canada Pension Plan Investment Board Invests $26.60 Million in Astera Labs, Inc. (NASDAQ:ALAB)

Canada Pension Plan Investment Board bought a new stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 200,800 shares of the company's stock, valued at approximately $26,596,000. Canada Pension Plan Investment Board owned about 0.13% of Astera Labs as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ALAB. Vanguard Group Inc. raised its holdings in Astera Labs by 354.9% in the 4th quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company's stock valued at $1,220,080,000 after acquiring an additional 7,186,582 shares during the last quarter. Alliancebernstein L.P. lifted its position in Astera Labs by 2,328.5% during the fourth quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company's stock worth $519,506,000 after buying an additional 3,760,765 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Astera Labs by 50.5% during the fourth quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company's stock worth $312,644,000 after buying an additional 792,153 shares during the last quarter. Jennison Associates LLC purchased a new stake in Astera Labs in the 4th quarter valued at $229,991,000. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Astera Labs by 418.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,674,000 shares of the company's stock worth $221,721,000 after acquiring an additional 1,351,007 shares during the last quarter. 60.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, General Counsel Philip Mazzara sold 50,000 shares of Astera Labs stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $87.46, for a total value of $4,373,000.00. Following the transaction, the general counsel now directly owns 191,209 shares of the company's stock, valued at $16,723,139.14. The trade was a 20.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jitendra Mohan sold 350,680 shares of Astera Labs stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the completion of the transaction, the chief executive officer now owns 2,353,655 shares in the company, valued at approximately $210,675,659.05. This represents a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 633,990 shares of company stock valued at $54,235,012.

Astera Labs Price Performance

Shares of Astera Labs stock traded up $4.85 on Wednesday, reaching $60.16. 4,448,317 shares of the company were exchanged, compared to its average volume of 3,808,386. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39. The company has a market cap of $9.76 billion and a P/E ratio of -34.77. The stock's 50 day moving average price is $67.92 and its 200-day moving average price is $91.18.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its earnings results on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. On average, research analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ALAB. Stifel Nicolaus cut their price objective on shares of Astera Labs from $150.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Craig Hallum upped their price objective on Astera Labs from $105.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Northland Capmk raised Astera Labs from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 28th. Needham & Company LLC reiterated a "buy" rating and set a $140.00 price target on shares of Astera Labs in a report on Tuesday, February 11th. Finally, Northland Securities raised shares of Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 target price for the company in a research note on Tuesday, January 28th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $109.25.

Astera Labs 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.