Federated Hermes Inc. Makes New $19.21 Million Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Federated Hermes Inc. bought a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 145,000 shares of the company's stock, valued at approximately $19,205,000. Federated Hermes Inc. owned about 0.09% of Astera Labs as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. bought a new position in Astera Labs in the 4th quarter valued at $25,000. Steward Partners Investment Advisory LLC grew its holdings in shares of Astera Labs by 99.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock worth $26,000 after purchasing an additional 99 shares during the last quarter. Kestra Investment Management LLC purchased a new position in Astera Labs in the 4th quarter worth about $28,000. Geneos Wealth Management Inc. bought a new stake in Astera Labs during the 4th quarter valued at about $36,000. Finally, Global Retirement Partners LLC boosted its position in Astera Labs by 3,155.6% in the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock valued at $39,000 after buying an additional 284 shares during the period. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Astera Labs

In other news, CEO Jitendra Mohan sold 350,680 shares of the stock in a transaction on Wednesday, February 19th. The shares were 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 owns 2,353,655 shares in the company, valued at $210,675,659.05. This represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael E. Hurlston sold 2,500 shares of the business'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 transaction, the director now owns 91,794 shares of the company's stock, valued at $8,452,391.52. This represents a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 633,990 shares of company stock valued at $54,235,012 in the last ninety days.

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Astera Labs Trading Up 0.3 %

Shares of ALAB traded up $0.20 during midday trading on Monday, hitting $60.33. 1,219,172 shares of the company's stock traded hands, compared to its average volume of 3,778,741. The stock has a market capitalization of $9.78 billion and a price-to-earnings ratio of -34.87. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39. The firm's fifty day moving average is $73.46 and its 200-day moving average is $91.14.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its 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, equities research analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Barclays lifted their price target on shares of Astera Labs from $87.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Northland Securities upgraded Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 target price for the company in a report on Tuesday, January 28th. Craig Hallum increased their price target on Astera Labs from $105.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Northland Capmk upgraded Astera Labs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 28th. Finally, Stifel Nicolaus upped their price objective on shares of Astera Labs from $100.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $112.77.

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.