American Century Companies Inc. Trims Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

American Century Companies Inc. lessened its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 60.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,618 shares of the company's stock after selling 7,076 shares during the quarter. American Century Companies Inc.'s holdings in Astera Labs were worth $612,000 at the end of the most recent reporting period.

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

Astera Labs Price Performance

Astera Labs stock traded up $0.67 during trading hours on Tuesday, reaching $60.08. The company had a trading volume of 2,298,548 shares, compared to its average volume of 3,782,519. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39. The company has a 50-day moving average price of $72.52 and a 200 day moving average price of $91.18. The firm has a market cap of $9.74 billion and a price-to-earnings ratio of -34.73.

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Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its earnings results on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing the consensus estimate 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 earnings per share for the current year.

Insider Transactions at Astera Labs

In related news, 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 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 represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Manuel Alba sold 63,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $63.37, for a total value of $3,992,310.00. Following the sale, the director now directly owns 444,863 shares in the company, valued at approximately $28,190,968.31. The trade was a 12.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 633,990 shares of company stock worth $54,235,012.

Analysts Set New Price Targets

ALAB has been the topic of several research analyst reports. Northland Securities raised shares of 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. Morgan Stanley cut their price objective 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. Needham & Company LLC reaffirmed a "buy" rating and issued a $140.00 target price on shares of Astera Labs in a research note on Tuesday, February 11th. Barclays boosted their price target on shares of Astera Labs from $87.00 to $135.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. Finally, Craig Hallum raised their price objective on shares of Astera Labs from $105.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $111.23.

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.