Barclays PLC Buys 6,051 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Barclays PLC lifted its position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 92,462 shares of the company's stock after acquiring an additional 6,051 shares during the quarter. Barclays PLC owned approximately 0.06% of Astera Labs worth $12,247,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Tidal Investments LLC boosted its stake in shares of Astera Labs by 81.8% in the 3rd quarter. Tidal Investments LLC now owns 45,298 shares of the company's stock valued at $2,373,000 after purchasing an additional 20,388 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in Astera Labs by 1.8% during the fourth quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company's stock worth $2,864,000 after buying an additional 390 shares during the last quarter. Peregrine Investment Management Inc. acquired a new position in shares of Astera Labs during the 4th quarter worth about $10,701,000. Elemental Capital Partners LLC bought a new position in Astera Labs during the 4th quarter worth approximately $1,346,000. Finally, Renaissance Capital LLC grew its holdings in Astera Labs by 381.0% during the fourth quarter. Renaissance Capital LLC now owns 114,276 shares of the company's stock valued at $15,136,000 after purchasing an additional 90,516 shares during the period. Institutional investors own 60.47% of the company's stock.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, CEO Jitendra Mohan sold 350,680 shares of Astera Labs 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 sale, the chief executive officer now owns 2,353,655 shares in the company, valued at $210,675,659.05. The trade was a 12.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael E. Hurlston sold 2,500 shares of Astera Labs stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total transaction of $230,200.00. Following the completion of the sale, the director now owns 91,794 shares of the company's stock, valued at approximately $8,452,391.52. The trade was a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 633,990 shares of company stock valued at $54,235,012 in the last ninety days.

Wall Street Analyst Weigh In

ALAB has been the subject of a number of research analyst reports. Craig Hallum boosted their target price on Astera Labs from $105.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Raymond James assumed coverage on shares of Astera Labs in a research note on Friday, March 14th. They issued an "outperform" rating and a $82.00 target price for the company. Northland Capmk raised Astera Labs from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 28th. Northland Securities raised 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. Finally, Barclays boosted their target price on Astera Labs from $87.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Astera Labs currently has an average rating of "Buy" and a consensus target price of $109.25.

Astera Labs Trading Up 2.4 %

Shares of ALAB traded up $1.57 during mid-day trading on Friday, reaching $66.12. The company's stock had a trading volume of 2,319,846 shares, compared to its average volume of 3,818,965. The stock has a market cap of $10.72 billion and a P/E ratio of -38.23. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39. The business has a 50-day simple moving average of $66.90 and a two-hundred day simple moving average of $91.05.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued 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%. Research analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current year.

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.