77,161 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Acquired by Great Lakes Advisors LLC

Great Lakes Advisors LLC bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 77,161 shares of the company's stock, valued at approximately $10,220,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Tidal Investments LLC lifted its stake in Astera Labs by 81.8% during the third quarter. Tidal Investments LLC now owns 45,298 shares of the company's stock worth $2,373,000 after purchasing an additional 20,388 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Astera Labs during the third quarter worth approximately $530,000. Avior Wealth Management LLC acquired a new position in Astera Labs during the third quarter worth approximately $361,000. Maverick Capital Ltd. increased its position in Astera Labs by 16.0% during the third quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company's stock worth $60,575,000 after buying an additional 159,480 shares during the period. Finally, Bank of Hawaii acquired a new position in Astera Labs during the third quarter worth approximately $1,409,000. Hedge funds and other institutional investors own 60.47% of the company's stock.

Astera Labs Trading Up 4.2 %

NASDAQ:ALAB opened at $68.82 on Thursday. The firm has a market cap of $11.16 billion and a P/E ratio of -39.78. The stock's 50 day simple moving average is $100.37 and its 200-day simple moving average is $87.96. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39.

Remove Ads

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings data 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 return on equity of 10.40% and a negative net margin of 21.05%. Research analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on ALAB. Stifel Nicolaus lifted their price target on Astera Labs from $100.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Morgan Stanley cut 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. Craig Hallum lifted their price target on Astera Labs from $105.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Needham & Company LLC reaffirmed a "buy" rating and set a $140.00 price target on shares of Astera Labs in a research report on Tuesday, February 11th. Finally, Citigroup began coverage on Astera Labs in a research report on Monday, November 18th. They set a "buy" rating and a $120.00 price target on the stock. One research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $115.33.

Insider Buying and Selling

In other Astera Labs news, General Counsel Philip Mazzara sold 50,000 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $87.46, for a total transaction of $4,373,000.00. Following the sale, the general counsel now directly owns 191,209 shares in the company, valued at approximately $16,723,139.14. The trade was a 20.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jitendra Mohan sold 350,680 shares of the business's stock in a transaction on 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 sale, the chief executive officer now owns 2,353,655 shares in the company, valued at approximately $210,675,659.05. The trade was a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 570,990 shares of company stock valued at $50,242,702 over the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.