13,499 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Acquired by Guggenheim Capital LLC

Guggenheim Capital LLC acquired a new position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,499 shares of the company's stock, valued at approximately $1,788,000.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake 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 worth $1,220,080,000 after acquiring an additional 7,186,582 shares during the last quarter. Alliancebernstein L.P. grew its position in Astera Labs by 2,328.5% in the 4th 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 during the last quarter. Jennison Associates LLC bought a new position in shares of Astera Labs during the 4th quarter worth about $229,991,000. Norges Bank acquired a new position in shares of Astera Labs during the fourth quarter valued at about $179,229,000. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Astera Labs by 418.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,674,000 shares of the company's stock valued at $221,721,000 after buying an additional 1,351,007 shares during the last quarter. 60.47% of the stock is owned by institutional investors.

Insider Buying and Selling at Astera Labs

In related news, CEO Jitendra Mohan sold 350,680 shares of Astera Labs stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total value of $31,389,366.80. Following the completion of the sale, the chief executive officer now directly owns 2,353,655 shares in the company, valued at $210,675,659.05. This trade represents a 12.97 % 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 the SEC website. Also, Director Michael E. Hurlston sold 2,500 shares of the firm's stock in a transaction dated 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 in the company, valued at $8,452,391.52. This trade represents a 2.65 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 633,990 shares of company stock worth $54,235,012.

Astera Labs Price Performance

Shares of ALAB stock traded up $4.85 during trading hours on Wednesday, hitting $60.16. 4,448,317 shares of the company's stock were exchanged, compared to its average volume of 3,808,385. The stock's 50-day moving average is $67.92 and its 200-day moving average is $91.18. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39. The stock has a market cap of $9.76 billion and a price-to-earnings ratio of -34.77.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its earnings results on Monday, February 10th. The company reported $0.10 earnings per share 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 research analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on ALAB. Northland Securities raised 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. Craig Hallum raised their target price on Astera Labs from $105.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Morgan Stanley lowered their price target on shares of Astera Labs from $142.00 to $114.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 28th. Barclays raised their price objective 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. Finally, Stifel Nicolaus lowered their target price on shares of Astera Labs from $150.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Astera Labs has an average rating of "Buy" and a consensus price target of $109.25.

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.