Legal & General Group Plc Acquires 35,285 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Legal & General Group Plc boosted its holdings in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 145.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,518 shares of the company's stock after purchasing an additional 35,285 shares during the quarter. Legal & General Group Plc's holdings in Astera Labs were worth $7,883,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ALAB. Vanguard Group Inc. increased its stake in Astera Labs by 354.9% in the 4th quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company's stock valued at $1,220,080,000 after purchasing an additional 7,186,582 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Astera Labs by 2,328.5% in the 4th quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company's stock valued at $519,506,000 after buying an additional 3,760,765 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Astera Labs by 50.5% during the fourth quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company's stock valued at $312,644,000 after acquiring an additional 792,153 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of Astera Labs during the 4th quarter worth about $229,991,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in Astera Labs by 418.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,674,000 shares of the company's stock valued at $221,721,000 after acquiring an additional 1,351,007 shares during the last quarter. Institutional investors and hedge funds own 60.47% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Craig Hallum upped their price target on shares of 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 issued a $140.00 price objective on shares of Astera Labs in a research report on Tuesday, February 11th. Northland Capmk raised Astera Labs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 28th. Barclays increased their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Finally, Citigroup decreased their target price on shares of Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Monday, April 14th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $109.25.

Astera Labs Trading Up 6.9 %

ALAB stock traded up $4.15 during mid-day trading on Thursday, hitting $64.30. The stock had a trading volume of 1,009,936 shares, compared to its average volume of 3,807,144. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39. The company has a fifty day moving average of $67.36 and a 200 day moving average of $90.97. The stock has a market capitalization of $10.43 billion and a price-to-earnings ratio of -36.87.

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 (EPS) for the quarter, missing analysts' consensus estimates 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, sell-side analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Manuel Alba sold 63,000 shares of the 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 $28,190,968.31. This trade represents a 12.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jitendra Mohan sold 350,680 shares of the firm's stock in a transaction dated 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 directly owns 2,353,655 shares in the company, valued at approximately $210,675,659.05. This represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 633,990 shares of company stock valued at $54,235,012.

Astera Labs Company 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.