Fmr LLC Sells 93,264 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

FMR LLC lessened its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,410,774 shares of the company's stock after selling 93,264 shares during the quarter. FMR LLC owned approximately 14.76% of Astera Labs worth $3,100,757,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Astera Labs during the 4th quarter worth about $25,000. Steward Partners Investment Advisory LLC boosted its holdings in 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 in the last quarter. Kestra Investment Management LLC acquired a new position in Astera Labs during the fourth quarter worth $28,000. Geneos Wealth Management Inc. acquired a new position in Astera Labs during the fourth quarter worth $36,000. Finally, Global Retirement Partners LLC raised its holdings in Astera Labs by 3,155.6% during the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock valued at $39,000 after buying an additional 284 shares in the last quarter. Institutional investors and hedge funds own 60.47% of the company's stock.

Insider Buying and Selling

In related news, CFO Michael Truett Tate sold 125,800 shares of the company's stock in a transaction dated 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 sale, the chief financial officer now owns 244,242 shares of the company's stock, valued at $20,157,292.26. The trade was a 34.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Manuel Alba sold 63,000 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the completion of the transaction, the director now directly owns 444,863 shares of the company's stock, valued at $28,190,968.31. This trade represents a 12.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 633,990 shares of company stock valued at $54,235,012 over the last ninety days.

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Astera Labs Trading Up 0.3 %

ALAB stock traded up $0.16 during trading on Friday, reaching $59.02. 1,942,370 shares of the stock were exchanged, compared to its average volume of 3,763,441. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39. The company has a market capitalization of $9.57 billion and a P/E ratio of -33.89. The stock has a 50 day simple moving average of $74.30 and a 200-day simple moving average of $90.83.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings data 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%. Equities analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

Analyst Ratings Changes

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