Commonwealth Equity Services LLC Buys Shares of 12,784 Astera Labs, Inc. (NASDAQ:ALAB)

Commonwealth Equity Services LLC bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,784 shares of the company's stock, valued at approximately $1,693,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Fred Alger Management LLC increased its holdings in shares of Astera Labs by 1,361.0% during the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company's stock worth $147,840,000 after buying an additional 2,628,765 shares during the last quarter. Jennison Associates LLC purchased a new position in shares of Astera Labs in the 4th quarter worth about $229,991,000. The Manufacturers Life Insurance Company lifted its stake in shares of Astera Labs by 15,477.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company's stock valued at $46,054,000 after purchasing an additional 873,412 shares in the last quarter. Spyglass Capital Management LLC purchased a new stake in shares of Astera Labs during the 3rd quarter worth about $38,565,000. Finally, Amundi increased its position in Astera Labs by 1,643,487.1% during the 4th quarter. Amundi now owns 509,512 shares of the company's stock worth $66,629,000 after purchasing an additional 509,481 shares in the last quarter. 60.47% of the stock is owned by institutional investors and hedge funds.

Astera Labs Stock Performance

Shares of ALAB stock traded up $2.07 during mid-day trading on Wednesday, reaching $64.08. 4,512,056 shares of the company were exchanged, compared to its average volume of 3,673,721. The company has a market capitalization of $10.39 billion and a P/E ratio of -37.04. The business's 50 day simple moving average is $81.10 and its 200 day simple moving average is $90.61. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39.

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

Wall Street Analyst Weigh In

ALAB has been the subject of several recent research reports. Morgan Stanley dropped 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. Stifel Nicolaus increased their price target on Astera Labs from $100.00 to $150.00 and gave the company a "buy" rating in a report on Monday, January 6th. Needham & Company LLC restated a "buy" rating and set a $140.00 price objective on shares of Astera Labs in a research note on Tuesday, February 11th. Craig Hallum increased 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. Finally, Raymond James initiated coverage on Astera Labs in a report on Friday, March 14th. They set an "outperform" rating and a $82.00 target price on the stock. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $112.77.

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 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 sale, the director now directly owns 91,794 shares of the company's stock, valued at approximately $8,452,391.52. This represents a 2.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Philip Mazzara sold 7,536 shares of Astera Labs stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total transaction 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 $22,208,112.63. This trade represents a 3.03 % decrease in their ownership of the stock. 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 quarter.

About Astera Labs

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.