Cookson Peirce & Co. Inc. bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,000 shares of the company's stock, valued at approximately $662,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fred Alger Management LLC grew its stake in shares of Astera Labs by 1,361.0% in the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company's stock worth $147,840,000 after purchasing an additional 2,628,765 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of Astera Labs in the 4th quarter valued at about $229,991,000. Westfield Capital Management Co. LP acquired a new stake in shares of Astera Labs in the third quarter valued at about $52,049,000. The Manufacturers Life Insurance Company increased its stake in shares of Astera Labs by 15,477.8% in the third quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company's stock valued at $46,054,000 after buying an additional 873,412 shares during the period. Finally, Spyglass Capital Management LLC acquired a new position in shares of Astera Labs in the third quarter worth approximately $38,565,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, CFO Michael Truett Tate sold 125,800 shares of the business's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total value of $10,382,274.00. Following the transaction, the chief financial officer now directly owns 244,242 shares of the company's stock, valued at approximately $20,157,292.26. The trade was a 34.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jitendra Mohan sold 350,680 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 2,353,655 shares of the company's stock, valued at approximately $210,675,659.05. The trade was a 12.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 570,990 shares of company stock worth $50,242,702.
Astera Labs Trading Up 5.4 %
Shares of ALAB traded up $3.43 during trading hours on Friday, reaching $66.92. The stock had a trading volume of 5,816,103 shares, compared to its average volume of 3,790,088. The company has a market capitalization of $10.85 billion and a price-to-earnings ratio of -38.68. The firm has a 50-day simple moving average of $104.47 and a 200 day simple moving average of $87.44. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39.
Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its earnings results on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.16). Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. On average, equities analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current year.
Wall Street Analyst Weigh In
A number of analysts have weighed in on ALAB shares. Barclays increased their target price on shares of Astera Labs from $87.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, January 17th. Northland Securities upgraded shares of Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price objective for the company in a research report on Tuesday, January 28th. Craig Hallum boosted their target price on shares of Astera Labs from $105.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. 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, Stifel Nicolaus raised their target price on Astera Labs from $100.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. One investment 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. Based on data from MarketBeat, Astera Labs currently has an average rating of "Buy" and a consensus target price of $115.33.
Check Out Our Latest Analysis on ALAB
Astera Labs Profile
(
Free Report)
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.
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