ING Groep NV Makes New $37.23 Million Investment in Astera Labs, Inc. (NASDAQ:ALAB)

ING Groep NV bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 281,100 shares of the company's stock, valued at approximately $37,232,000. ING Groep NV owned 0.18% of Astera Labs as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC grew its holdings in Astera Labs by 0.7% in the 3rd quarter. FMR LLC now owns 23,504,038 shares of the company's stock valued at $1,231,377,000 after buying an additional 153,491 shares in the last quarter. Fred Alger Management LLC boosted its position in shares of Astera Labs by 1,361.0% in the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company's stock valued at $147,840,000 after acquiring an additional 2,628,765 shares during the period. Jennison Associates LLC acquired a new position in shares of Astera Labs in the fourth quarter valued at about $229,991,000. JPMorgan Chase & Co. increased its position in Astera Labs by 3.1% during the third quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company's stock worth $82,164,000 after acquiring an additional 47,569 shares during the period. Finally, Maverick Capital Ltd. raised its stake in Astera Labs by 16.0% in the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company's stock worth $60,575,000 after purchasing an additional 159,480 shares in the last quarter. Institutional investors and hedge funds own 60.47% of the company's stock.

Astera Labs Trading Down 3.1 %

ALAB stock traded down $2.71 during trading on Friday, reaching $85.72. 3,958,728 shares of the stock were exchanged, compared to its average volume of 5,463,948. The firm's 50 day moving average is $117.65 and its 200 day moving average is $84.55. The firm has a market cap of $13.90 billion and a P/E ratio of -49.55. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39.

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Citigroup assumed coverage on Astera Labs in a report on Monday, November 18th. They set a "buy" rating and a $120.00 target price on the stock. Needham & Company LLC reissued a "buy" rating and set a $140.00 price objective on shares of Astera Labs in a report on Tuesday, February 11th. Northland Securities raised shares of 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 increased 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. Finally, Roth Mkm increased their price objective on shares of Astera Labs from $80.00 to $105.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $115.33.

Insider Activity

In related news, CEO Jitendra Mohan sold 173,366 shares of the firm's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $110.12, for a total value of $19,091,063.92. Following the transaction, the chief executive officer now owns 600,000 shares of the company's stock, valued at approximately $66,072,000. This trade represents a 22.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stefan A. Dyckerhoff sold 7,814 shares of Astera Labs stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $107.17, for a total value of $837,426.38. Following the transaction, the director now directly owns 121,803 shares in the company, valued at approximately $13,053,627.51. The trade was a 6.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 883,370 shares of company stock worth $86,643,058 over the last three months.

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.