TD Waterhouse Canada Inc. Has $9.30 Million Stake in Astera Labs, Inc. (NASDAQ:ALAB)

TD Waterhouse Canada Inc. lowered its position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 31.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,184 shares of the company's stock after selling 32,530 shares during the period. TD Waterhouse Canada Inc.'s holdings in Astera Labs were worth $9,295,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ALAB. Vanguard Group Inc. boosted its stake in Astera Labs by 354.9% in the fourth quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company's stock worth $1,220,080,000 after purchasing an additional 7,186,582 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Astera Labs by 2,328.5% in the fourth 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. Jennison Associates LLC bought a new position in shares of Astera Labs in the fourth quarter valued at about $229,991,000. Norges Bank acquired a new position in Astera Labs during the 4th quarter worth about $179,229,000. Finally, Massachusetts Financial Services Co. MA grew its holdings in Astera Labs by 418.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,674,000 shares of the company's stock worth $221,721,000 after acquiring an additional 1,351,007 shares during the last quarter. 60.47% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ALAB has been the subject of a number of research analyst reports. Citigroup dropped 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 note on Monday, April 14th. Needham & Company LLC restated a "buy" rating and issued a $140.00 price objective on shares of Astera Labs in a research report on Tuesday, February 11th. Northland Securities upgraded Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price objective on the stock in a research report on Tuesday, January 28th. Barclays lifted 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. Finally, Stifel Nicolaus cut their price target on Astera Labs from $150.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. One investment 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 stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $109.25.

Insider Activity at Astera Labs

In related news, Director Manuel Alba sold 63,000 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total value of $3,992,310.00. Following the completion of the transaction, the director now directly owns 444,863 shares in the company, valued at approximately $28,190,968.31. The trade was a 12.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jitendra Mohan sold 350,680 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at approximately $210,675,659.05. The trade was 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 worth $54,235,012 in the last quarter.

Astera Labs Trading Up 2.4 %

Shares of ALAB stock traded up $1.56 on Friday, reaching $66.11. The company had a trading volume of 2,976,996 shares, compared to its average volume of 3,830,584. The stock has a market cap of $10.72 billion and a PE ratio of -38.21. The company has a 50-day moving average of $66.35 and a 200-day moving average of $91.14. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its earnings results on Monday, February 10th. The company reported $0.10 EPS 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%. Sell-side analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share 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.