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

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

A number of other large investors also recently made changes to their positions in ALAB. Fred Alger Management LLC increased its holdings in 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 buying an additional 2,628,765 shares during the last quarter. Jennison Associates LLC acquired a new position in Astera Labs in the fourth quarter worth approximately $229,991,000. Westfield Capital Management Co. LP acquired a new position in Astera Labs in the third quarter worth approximately $52,049,000. The Manufacturers Life Insurance Company increased its holdings in 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 worth $46,054,000 after buying an additional 873,412 shares during the last quarter. Finally, Spyglass Capital Management LLC acquired a new position in Astera Labs in the third quarter worth approximately $38,565,000. Institutional investors and hedge funds own 60.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Citigroup assumed coverage on Astera Labs in a report on Monday, November 18th. They issued a "buy" rating and a $120.00 price objective on the stock. Raymond James assumed coverage on Astera Labs in a report on Friday. They issued an "outperform" rating and a $82.00 price objective on the stock. Morgan Stanley dropped their price objective on Astera Labs from $142.00 to $114.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 28th. Stifel Nicolaus upped their target price on Astera Labs from $100.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $140.00 target price on shares of Astera Labs in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Astera Labs currently has a consensus rating of "Buy" and a consensus price target of $112.77.

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Insider Activity

In related news, CEO Jitendra Mohan sold 350,680 shares of the firm'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 completion of the transaction, the chief executive officer now directly owns 2,353,655 shares of the company's stock, valued at $210,675,659.05. This trade represents a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael E. Hurlston sold 2,500 shares of the firm's stock in a transaction on 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 directly owns 91,794 shares of the company's stock, valued at approximately $8,452,391.52. This trade represents a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 570,990 shares of company stock valued at $50,242,702.

Astera Labs Stock Performance

Shares of ALAB traded up $6.86 during mid-day trading on Friday, hitting $72.18. The company's stock had a trading volume of 3,693,148 shares, compared to its average volume of 3,800,180. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39. The firm has a market capitalization of $11.70 billion and a PE ratio of -41.72. The stock's 50-day moving average is $97.61 and its two-hundred day moving average is $88.31.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate 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%. Analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

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.