Geode Capital Management LLC Buys 420,490 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Geode Capital Management LLC lifted its position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 94.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 865,377 shares of the company's stock after purchasing an additional 420,490 shares during the period. Geode Capital Management LLC owned about 0.55% of Astera Labs worth $114,634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Barclays boosted their target price 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 increased their price objective 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 raised Astera Labs from a "hold" rating to a "strong-buy" rating in a 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 research note on Monday, January 6th. Finally, Raymond James began coverage on Astera Labs in a research note on Friday, March 14th. They issued an "outperform" rating and a $82.00 price objective on the stock. One investment 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 company's stock. Based on data from MarketBeat.com, Astera Labs presently has a consensus rating of "Buy" and a consensus price target of $112.77.

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Insider Buying and Selling at Astera Labs

In related news, General Counsel Philip Mazzara sold 7,536 shares of Astera Labs stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total value of $693,839.52. Following the completion of the sale, the general counsel now directly owns 241,209 shares in the company, valued at $22,208,112.63. The trade was a 3.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael E. Hurlston sold 2,500 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total transaction of $230,200.00. Following the completion of the sale, the director now directly owns 91,794 shares of the company's stock, valued at approximately $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. Insiders sold a total of 633,990 shares of company stock valued at $54,235,012 in the last ninety days.

Astera Labs Trading Down 1.6 %

Shares of NASDAQ ALAB traded down $0.96 during mid-day trading on Monday, reaching $59.17. The company had a trading volume of 740,671 shares, compared to its average volume of 3,777,717. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39. The business's 50-day moving average is $73.46 and its 200-day moving average is $91.14. The stock has a market cap of $9.60 billion and a price-to-earnings ratio of -34.20.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued 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%. As a group, equities research analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current 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.