Alliancebernstein L.P. Has $519.51 Million Stock Position in Astera Labs, Inc. (NASDAQ:ALAB)

Alliancebernstein L.P. increased its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 2,328.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,922,278 shares of the company's stock after acquiring an additional 3,760,765 shares during the period. Alliancebernstein L.P. owned about 2.47% of Astera Labs worth $519,506,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. acquired a new position in Astera Labs during the 4th quarter worth about $25,000. Steward Partners Investment Advisory LLC boosted its position in Astera Labs by 99.0% in 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 during the last quarter. Kestra Investment Management LLC acquired a new position in Astera Labs during the 4th quarter valued at about $28,000. Geneos Wealth Management Inc. bought a new position in shares of Astera Labs in the 4th quarter worth $36,000. Finally, Global Retirement Partners LLC boosted its holdings in Astera Labs by 3,155.6% during the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock worth $39,000 after buying an additional 284 shares during the last quarter. Institutional investors and hedge funds own 60.47% of the company's stock.

Astera Labs Stock Down 8.3 %

Shares of NASDAQ:ALAB traded down $4.61 during trading on Friday, reaching $51.07. 3,679,468 shares of the company traded hands, compared to its average volume of 3,693,023. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39. The firm has a market capitalization of $8.28 billion and a PE ratio of -29.42. The company's 50 day moving average is $79.74 and its two-hundred day moving average is $90.37.

Remove Ads

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

Analyst Ratings Changes

A number of brokerages have recently commented on ALAB. Craig Hallum upped their price target on Astera Labs from $105.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Stifel Nicolaus increased their target price on shares of Astera Labs from $100.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Northland Securities upgraded shares of Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price objective for the company in a research report on Tuesday, January 28th. Raymond James assumed coverage on Astera Labs in a research note on Friday, March 14th. They set an "outperform" rating and a $82.00 price objective on the stock. Finally, Morgan Stanley cut 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. 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 company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $112.77.

Insider Buying and Selling at Astera Labs

In other news, General Counsel Philip Mazzara sold 50,000 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $87.46, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael Truett Tate sold 125,800 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $82.53, for a total transaction of $10,382,274.00. Following the sale, the chief financial officer now owns 244,242 shares of the company's stock, valued at approximately $20,157,292.26. This trade represents a 34.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 570,990 shares of company stock worth $50,242,702.

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.