Berkshire Capital Holdings Inc. Makes New $16.07 Million Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Berkshire Capital Holdings Inc. acquired a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 121,350 shares of the company's stock, valued at approximately $16,073,000. Astera Labs comprises approximately 5.8% of Berkshire Capital Holdings Inc.'s holdings, making the stock its 6th largest holding. Berkshire Capital Holdings Inc. owned about 0.08% of Astera Labs as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. CIBC Asset Management Inc purchased a new stake in shares of Astera Labs during the 3rd quarter worth approximately $237,000. Meeder Asset Management Inc. purchased a new stake in Astera Labs in the third quarter worth $1,141,000. Avior Wealth Management LLC bought a new stake in shares of Astera Labs in the third quarter valued at $361,000. First Horizon Advisors Inc. purchased a new position in shares of Astera Labs during the 3rd quarter valued at $49,000. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Astera Labs by 253.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 322,993 shares of the company's stock worth $16,922,000 after acquiring an additional 231,585 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, Director Michael E. Hurlston sold 2,500 shares of the 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 transaction, the director now directly owns 91,794 shares in the company, valued at $8,452,391.52. This trade represents a 2.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Philip Mazzara sold 50,000 shares of Astera Labs stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $87.46, for a total transaction of $4,373,000.00. Following the completion of the transaction, the general counsel now owns 191,209 shares in the company, valued at approximately $16,723,139.14. The trade was a 20.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 570,990 shares of company stock worth $50,242,702 over the last 90 days.

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Wall Street Analysts Forecast Growth

ALAB has been the topic of a number of research reports. Northland Capmk upgraded Astera Labs from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 28th. Needham & Company LLC reissued a "buy" rating and issued a $140.00 price target on shares of Astera Labs in a research report on Tuesday, February 11th. Raymond James started coverage on shares of Astera Labs in a research note on Friday, March 14th. They issued an "outperform" rating and a $82.00 price objective for the company. Barclays increased their target price on Astera Labs from $87.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, January 17th. Finally, Morgan Stanley reduced their price target 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. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Astera Labs has a consensus rating of "Buy" and an average target price of $112.77.

Astera Labs Stock Up 3.8 %

Shares of ALAB stock traded up $2.68 during trading on Monday, hitting $73.78. The company had a trading volume of 2,412,811 shares, compared to its average volume of 3,695,173. The stock's 50-day moving average is $90.17 and its two-hundred day moving average is $89.80. The stock has a market capitalization of $11.96 billion and a price-to-earnings ratio of -42.65. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its quarterly earnings results on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing analysts' consensus estimates 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%. On average, research analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current fiscal 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.