Bank of Hawaii Trims Stock Position in Astera Labs, Inc. (NASDAQ:ALAB)

Bank of Hawaii trimmed its position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 59.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,872 shares of the company's stock after selling 16,027 shares during the period. Bank of Hawaii's holdings in Astera Labs were worth $1,440,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC raised its position in shares of Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock worth $26,000 after acquiring an additional 99 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Astera Labs in the 4th quarter worth about $25,000. Kestra Investment Management LLC acquired a new stake in Astera Labs during the fourth quarter worth approximately $28,000. GAMMA Investing LLC increased its holdings in Astera Labs by 78.3% in the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company's stock worth $68,000 after purchasing an additional 224 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in Astera Labs by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 4,757 shares of the company's stock valued at $630,000 after buying an additional 237 shares during the period. Institutional investors own 60.47% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on ALAB shares. Craig Hallum raised their price objective 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. Morgan Stanley decreased their target price on 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. Northland Capmk raised shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 28th. Raymond James began coverage on Astera Labs in a report on Friday, March 14th. They set an "outperform" rating and a $82.00 price objective for the company. Finally, Needham & Company LLC restated a "buy" rating and issued a $140.00 target price on shares of Astera Labs in a report on Tuesday, February 11th. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Astera Labs presently has a consensus rating of "Buy" and a consensus target price of $111.23.

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Astera Labs Trading Up 1.1 %

Shares of NASDAQ ALAB traded up $0.64 during mid-day trading on Tuesday, hitting $60.05. The company had a trading volume of 1,149,200 shares, compared to its average volume of 3,778,136. The company has a market capitalization of $9.74 billion and a price-to-earnings ratio of -34.71. The stock's 50-day moving average price is $72.52 and its 200-day moving average price is $91.18. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39.

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 for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. As a group, equities research analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Insider Activity

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 shares were 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 $28,190,968.31. The trade was a 12.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Philip Mazzara sold 7,536 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total value of $693,839.52. Following the completion of the transaction, the general counsel now directly owns 241,209 shares of the company's stock, valued at approximately $22,208,112.63. This trade represents a 3.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 633,990 shares of company stock worth $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.