HighTower Advisors LLC Makes New Investment in Astera Labs, Inc. (NASDAQ:ALAB)

HighTower Advisors LLC bought a new position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 6,195 shares of the company's stock, valued at approximately $821,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Prosperity Wealth Management Inc. bought a new position in Astera Labs during the 4th quarter valued at approximately $403,000. AGF Management Ltd. bought a new stake in Astera Labs in the 4th quarter worth about $15,535,000. Daiwa Securities Group Inc. bought a new position in Astera Labs during the 4th quarter valued at about $3,067,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Astera Labs during the 4th quarter valued at about $1,380,000. Finally, Amundi boosted its holdings in shares of Astera Labs by 1,643,487.1% during the 4th quarter. Amundi now owns 509,512 shares of the company's stock valued at $66,629,000 after acquiring an additional 509,481 shares during the last quarter. Hedge funds and other institutional investors own 60.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ALAB shares. Northland Capmk raised Astera Labs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 28th. Northland Securities raised Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 target price on the stock in a report on Tuesday, January 28th. Barclays boosted their price target on Astera Labs from $87.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Needham & Company LLC reiterated a "buy" rating and issued a $140.00 price objective on shares of Astera Labs in a research note on Tuesday, February 11th. Finally, Craig Hallum raised their price objective 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. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $112.77.

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Astera Labs Price Performance

Shares of Astera Labs stock traded down $1.11 during trading on Monday, reaching $59.67. 3,750,373 shares of the stock traded hands, compared to its average volume of 3,667,109. The company has a market capitalization of $9.68 billion and a price-to-earnings ratio of -34.49. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39. The business has a fifty day simple moving average of $83.53 and a two-hundred day simple moving average of $90.67.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted 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 net margin of 21.05% and a negative return on equity of 10.40%. On average, research analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Transactions at Astera Labs

In related news, CEO Jitendra Mohan sold 350,680 shares of the firm's stock in a transaction on 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael Truett Tate sold 125,800 shares of Astera Labs stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $82.53, for a total transaction of $10,382,274.00. Following the transaction, the chief financial officer now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 570,990 shares of company stock worth $50,242,702 in the last three months.

About Astera Labs

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.