Franklin Resources Inc. Acquires Shares of 94,990 Astera Labs, Inc. (NASDAQ:ALAB)

Franklin Resources Inc. bought a new position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 94,990 shares of the company's stock, valued at approximately $12,581,000. Franklin Resources Inc. owned 0.06% of Astera Labs as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ALAB. Vanguard Group Inc. increased its position in shares of Astera Labs by 354.9% in the fourth quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company's stock valued at $1,220,080,000 after acquiring an additional 7,186,582 shares during the period. Alliancebernstein L.P. increased its holdings in Astera Labs by 2,328.5% during the 4th quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company's stock valued at $519,506,000 after purchasing an additional 3,760,765 shares during the period. Jennison Associates LLC bought a new stake in shares of Astera Labs in the 4th quarter worth approximately $229,991,000. Norges Bank bought a new position in Astera Labs in the 4th quarter worth $179,229,000. Finally, JPMorgan Chase & Co. increased its position in shares of Astera Labs by 50.5% during the fourth quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company's stock valued at $312,644,000 after buying an additional 792,153 shares during the period. 60.47% of the stock is currently owned by institutional investors.

Astera Labs Stock Performance

Shares of NASDAQ ALAB traded down $0.96 during midday trading on Monday, hitting $59.17. 740,671 shares of the company's stock traded hands, compared to its average volume of 3,777,717. The firm has a fifty day moving average of $73.46 and a 200 day moving average of $91.14. The stock has a market capitalization of $9.60 billion and a price-to-earnings ratio of -34.20. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39.

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Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.26 by ($0.16). Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. On average, equities analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, Director Michael E. Hurlston sold 2,500 shares of Astera Labs 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 directly owns 91,794 shares of the company's stock, valued at $8,452,391.52. The trade was a 2.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Philip Mazzara sold 50,000 shares of Astera Labs stock in a transaction dated 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 transaction, the general counsel now directly owns 191,209 shares of the company's stock, valued at approximately $16,723,139.14. This represents a 20.73 % 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 over the last ninety days.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ALAB shares. Craig Hallum raised 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. 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. Barclays raised their price objective on Astera Labs from $87.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, January 17th. Raymond James started coverage on Astera Labs in a report on Friday, March 14th. They issued an "outperform" rating and a $82.00 target price on the stock. Finally, Northland Securities upgraded 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. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average 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.