Daiwa Securities Group Inc. Makes New Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Daiwa Securities Group Inc. bought a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 23,160 shares of the company's stock, valued at approximately $3,067,000.

Several other hedge funds have also recently added to or reduced their stakes in ALAB. Steward Partners Investment Advisory LLC grew its holdings 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 buying an additional 99 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in shares of Astera Labs during the fourth quarter worth about $28,000. Geneos Wealth Management Inc. purchased a new stake in shares of Astera Labs during the fourth quarter worth about $36,000. Global Retirement Partners LLC grew its holdings in shares of Astera Labs by 3,155.6% during the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock worth $39,000 after buying an additional 284 shares in the last quarter. Finally, ORG Wealth Partners LLC purchased a new stake in shares of Astera Labs during the fourth quarter worth about $42,000. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on ALAB. Northland Securities upgraded shares of Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price target for the company in a report on Tuesday, January 28th. Barclays lifted their price target on shares of Astera Labs from $87.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Craig Hallum boosted their target price on shares of Astera Labs from $105.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Northland Capmk upgraded shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 28th. 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 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 company. Based on data from MarketBeat, Astera Labs presently has a consensus rating of "Buy" and a consensus target price of $112.77.

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Insider Activity

In other news, CFO Michael Truett Tate sold 125,800 shares of the company's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total value of $10,382,274.00. Following the completion of the transaction, the chief financial officer now directly owns 244,242 shares in the company, valued at approximately $20,157,292.26. This represents a 34.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael E. Hurlston sold 2,500 shares of the company's 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 completion of the transaction, the director now owns 91,794 shares of the company's stock, valued at $8,452,391.52. This trade represents a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 570,990 shares of company stock worth $50,242,702.

Astera Labs Trading Down 0.2 %

ALAB traded down $0.13 during trading on Monday, hitting $72.05. 3,632,317 shares of the company's stock were exchanged, compared to its average volume of 3,799,502. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39. The stock has a 50 day moving average price of $97.61 and a 200 day moving average price of $88.63. The firm has a market cap of $11.68 billion and a P/E ratio of -41.65.

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 (EPS) 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%. Analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

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.