Russell Investments Group Ltd. Has $1.52 Million Stake in Astera Labs, Inc. (NASDAQ:ALAB)

Russell Investments Group Ltd. lifted its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 33,535.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,436 shares of the company's stock after acquiring an additional 11,402 shares during the quarter. Russell Investments Group Ltd.'s holdings in Astera Labs were worth $1,517,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Envestnet Asset Management Inc. lifted its stake in Astera Labs by 204.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 85,553 shares of the company's stock worth $11,331,000 after purchasing an additional 57,434 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Astera Labs during the fourth quarter valued at $202,000. Landscape Capital Management L.L.C. purchased a new position in Astera Labs during the fourth quarter valued at $555,000. Arete Wealth Advisors LLC purchased a new position in Astera Labs during the fourth quarter valued at $1,053,000. Finally, Massachusetts Financial Services Co. MA lifted its position in Astera Labs by 418.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,674,000 shares of the company's stock valued at $221,721,000 after buying an additional 1,351,007 shares during the period. 60.47% of the stock is owned by hedge funds and other institutional investors.

Astera Labs Stock Performance

ALAB stock traded up $2.90 during trading on Thursday, reaching $63.05. 718,639 shares of the company were exchanged, compared to its average volume of 3,805,514. The company has a market cap of $10.22 billion and a P/E ratio of -36.44. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39. The stock's 50 day moving average price is $67.36 and its 200 day moving average price is $90.97.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its 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 net margin of 21.05% and a negative return on equity of 10.40%. As a group, equities research analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current year.

Insider Activity at Astera Labs

In related news, Director Michael E. Hurlston sold 2,500 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total value of $230,200.00. Following the completion of the sale, the director now directly owns 91,794 shares of the company's stock, valued at $8,452,391.52. The trade was a 2.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jitendra Mohan sold 350,680 shares of the business's 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 directly owns 2,353,655 shares of the company's stock, valued at approximately $210,675,659.05. This represents a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 633,990 shares of company stock valued at $54,235,012 over the last three months.

Wall Street Analysts Forecast Growth

ALAB has been the subject of several recent analyst reports. Craig Hallum lifted their price target on Astera Labs from $105.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Raymond James initiated coverage on shares of Astera Labs in a research report on Friday, March 14th. They set an "outperform" rating and a $82.00 price objective on the stock. Citigroup dropped their price target on shares of Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Morgan Stanley lowered their price objective on shares of Astera Labs from $142.00 to $114.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 28th. Finally, Northland Capmk raised shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 28th. One equities research 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. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $109.25.

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.