Himension Capital Singapore PTE. LTD. Purchases New Position in Astera Labs, Inc. (NASDAQ:ALAB)

Himension Capital Singapore PTE. LTD. acquired a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,555 shares of the company's stock, valued at approximately $868,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Astera Labs in the 4th quarter worth approximately $25,000. Steward Partners Investment Advisory LLC grew its stake in shares of Astera Labs by 99.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock worth $26,000 after acquiring an additional 99 shares during the last quarter. Kestra Investment Management LLC bought a new position in shares of Astera Labs during the fourth quarter valued at $28,000. Geneos Wealth Management Inc. purchased a new position in shares of Astera Labs in the 4th quarter worth about $36,000. Finally, Global Retirement Partners LLC boosted its stake in Astera Labs by 3,155.6% in the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock worth $39,000 after purchasing an additional 284 shares in the last quarter. Hedge funds and other institutional investors own 60.47% of the company's stock.

Insider Activity at Astera Labs

In related 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 transaction of $4,373,000.00. Following the transaction, the general counsel now owns 191,209 shares in the company, valued at approximately $16,723,139.14. The trade was a 20.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jitendra Mohan sold 350,680 shares of the company's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total value of $31,389,366.80. Following the completion of the transaction, the chief executive officer now directly owns 2,353,655 shares of the company's stock, valued at approximately $210,675,659.05. This trade represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 633,990 shares of company stock worth $54,235,012.

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Astera Labs Trading Up 0.8 %

ALAB stock traded up $0.47 during midday trading on Friday, reaching $59.33. 1,856,110 shares of the company's stock traded hands, compared to its average volume of 5,027,690. The stock's 50-day moving average is $74.30 and its 200 day moving average is $90.83. The stock has a market cap of $9.62 billion and a P/E ratio of -34.30. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced 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%. As a group, research analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ALAB has been the subject of several recent analyst reports. Barclays lifted their target price on shares of Astera Labs from $87.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Northland Capmk raised Astera Labs from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 28th. Morgan Stanley reduced their target price on Astera Labs from $142.00 to $114.00 and set an "equal weight" rating for the company in a report on Tuesday, January 28th. Northland Securities raised Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price target on the stock in a report on Tuesday, January 28th. Finally, Raymond James initiated coverage on Astera Labs in a report on Friday, March 14th. They issued an "outperform" rating and a $82.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $112.77.

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.