Harvest Fund Management Co. Ltd Invests $629,000 in Astera Labs, Inc. (NASDAQ:ALAB)

Harvest Fund Management Co. Ltd acquired a new position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,766 shares of the company's stock, valued at approximately $629,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ALAB. Steward Partners Investment Advisory LLC lifted its stake in shares of Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock valued at $26,000 after purchasing an additional 99 shares during the period. Kestra Investment Management LLC bought a new stake in Astera Labs in the fourth quarter valued at about $28,000. Geneos Wealth Management Inc. acquired a new position in Astera Labs in the fourth quarter valued at about $36,000. Global Retirement Partners LLC boosted 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 worth $39,000 after buying an additional 284 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in shares of Astera Labs during the 4th quarter worth about $42,000. 60.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, General Counsel Philip Mazzara sold 50,000 shares of Astera Labs stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $87.46, for a total value of $4,373,000.00. Following the transaction, the general counsel now owns 191,209 shares in the company, valued at approximately $16,723,139.14. This trade represents a 20.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jitendra Mohan sold 350,680 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the completion of the transaction, the chief executive officer now directly owns 2,353,655 shares of the company's stock, valued at approximately $210,675,659.05. The trade was a 12.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 570,990 shares of company stock worth $50,242,702 in the last 90 days.

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Astera Labs Stock Performance

Astera Labs stock traded down $1.59 during midday trading on Tuesday, reaching $72.19. The stock had a trading volume of 1,644,564 shares, compared to its average volume of 3,694,957. The stock has a market capitalization of $11.71 billion and a P/E ratio of -41.73. The firm's fifty day simple moving average is $90.17 and its 200-day simple moving average is $89.80. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate 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, sell-side analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on ALAB shares. Needham & Company LLC reiterated a "buy" rating and issued a $140.00 price target on shares of Astera Labs in a research report on Tuesday, February 11th. Craig Hallum increased their target price on shares of Astera Labs from $105.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Raymond James started coverage on shares of Astera Labs in a research report on Friday, March 14th. They set an "outperform" rating and a $82.00 price target on the stock. Morgan Stanley lowered their price objective on shares of Astera Labs from $142.00 to $114.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 28th. Finally, Stifel Nicolaus lifted their target price on Astera Labs from $100.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, January 6th. One research 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. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average 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.