Legato Capital Management LLC Grows Stock Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

Legato Capital Management LLC lifted its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 68.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,612 shares of the company's stock after purchasing an additional 10,386 shares during the period. Legato Capital Management LLC's holdings in Astera Labs were worth $3,392,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ALAB. FMR LLC grew its stake in Astera Labs by 0.7% in the 3rd quarter. FMR LLC now owns 23,504,038 shares of the company's stock valued at $1,231,377,000 after buying an additional 153,491 shares in the last quarter. Fred Alger Management LLC grew its stake in Astera Labs by 1,361.0% in the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company's stock valued at $147,840,000 after buying an additional 2,628,765 shares in the last quarter. Jennison Associates LLC purchased a new position in Astera Labs in the 4th quarter valued at approximately $229,991,000. JPMorgan Chase & Co. grew its stake in Astera Labs by 3.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company's stock valued at $82,164,000 after buying an additional 47,569 shares in the last quarter. Finally, Maverick Capital Ltd. grew its stake in Astera Labs by 16.0% in the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company's stock valued at $60,575,000 after buying an additional 159,480 shares in the last quarter. Hedge funds and other institutional investors own 60.47% of the company's stock.

Insiders Place Their Bets

In other Astera Labs news, Director Stefan A. Dyckerhoff sold 197,297 shares of the business's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $90.51, for a total value of $17,857,351.47. Following the completion of the sale, the director now directly owns 6,148 shares of the company's stock, valued at $556,455.48. The trade was a 96.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jitendra Mohan sold 171,064 shares of the business's stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $103.53, for a total transaction of $17,710,255.92. Following the completion of the sale, the chief executive officer now directly owns 628,895 shares of the company's stock, valued at $65,109,499.35. This represents a 21.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 846,452 shares of company stock valued at $86,427,256 over the last three months.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Barclays lifted their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. JPMorgan Chase & Co. raised their price target on shares of Astera Labs from $70.00 to $110.00 and gave the company an "overweight" rating in a report on Tuesday, November 5th. Roth Mkm raised their price target on shares of Astera Labs from $80.00 to $105.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Northland Capmk raised shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 28th. Finally, Craig Hallum raised their price target on shares of Astera Labs from $105.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $115.33.

Astera Labs Stock Performance

Shares of NASDAQ ALAB traded down $0.34 during mid-day trading on Friday, reaching $87.85. 6,185,189 shares of the company were exchanged, compared to its average volume of 5,023,027. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39. The company's 50 day moving average price is $120.17 and its 200 day moving average price is $83.22.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its quarterly earnings results 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 return on equity of 15.57% and a negative net margin of 30.69%. As a group, equities research analysts predict that Astera Labs, Inc. will post -0.45 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.