Swiss National Bank Buys New Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

Swiss National Bank 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 13F filing with the Securities and Exchange Commission. The fund acquired 77,000 shares of the company's stock, valued at approximately $10,199,000.

A number of other hedge funds also recently bought and sold shares of the company. Rakuten Securities Inc. increased its position in shares of Astera Labs by 59.3% in the fourth quarter. Rakuten Securities Inc. now owns 8,845 shares of the company's stock worth $1,172,000 after acquiring an additional 3,291 shares in the last quarter. Great Lakes Advisors LLC purchased a new position in Astera Labs during the 4th quarter worth approximately $10,220,000. HighTower Advisors LLC acquired a new stake in Astera Labs during the 4th quarter valued at $821,000. Prosperity Wealth Management Inc. purchased a new stake in shares of Astera Labs in the fourth quarter valued at $403,000. Finally, AGF Management Ltd. acquired a new stake in shares of Astera Labs in the fourth quarter worth $15,535,000. 60.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Astera Labs news, CEO Jitendra Mohan sold 350,680 shares of the company's 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 completion of the sale, the chief executive officer now directly owns 2,353,655 shares in the company, valued at $210,675,659.05. This represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael E. Hurlston sold 2,500 shares of Astera Labs stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total value of $230,200.00. Following the completion of the transaction, the director now owns 91,794 shares in the company, valued at $8,452,391.52. The trade was a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 570,990 shares of company stock valued at $50,242,702.

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Astera Labs Stock Up 3.8 %

Shares of NASDAQ:ALAB traded up $2.68 on Monday, reaching $73.78. The company had a trading volume of 2,412,749 shares, compared to its average volume of 3,695,159. The stock has a market capitalization of $11.96 billion and a P/E ratio of -42.65. The stock has a 50-day moving average price of $91.24 and a 200 day moving average price of $89.57. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month 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 earnings per share (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, sell-side analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

ALAB has been the topic of several recent analyst reports. Morgan Stanley dropped their price target on Astera Labs from $142.00 to $114.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 28th. Barclays increased their price target on shares of Astera Labs from $87.00 to $135.00 and gave the stock 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 target for the company in a report on Tuesday, January 28th. Northland Capmk upgraded shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 28th. Finally, Stifel Nicolaus lifted their target price on shares of Astera Labs from $100.00 to $150.00 and gave the company a "buy" rating in a research note on Monday, January 6th. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $112.77.

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.