Invesco Ltd. Reduces Position in Astera Labs, Inc. (NASDAQ:ALAB)

Invesco Ltd. trimmed its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 11.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,062,432 shares of the company's stock after selling 535,162 shares during the quarter. Invesco Ltd. owned 2.56% of Astera Labs worth $538,069,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. purchased a new position in Astera Labs during the 4th quarter worth $25,000. Steward Partners Investment Advisory LLC raised its holdings in shares of Astera Labs by 99.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock valued at $26,000 after acquiring an additional 99 shares in the last quarter. Kestra Investment Management LLC purchased a new stake in Astera Labs in the fourth quarter worth about $28,000. Geneos Wealth Management Inc. bought a new position in Astera Labs during the 4th quarter worth about $36,000. Finally, Global Retirement Partners LLC grew its holdings in Astera Labs by 3,155.6% during the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock worth $39,000 after acquiring an additional 284 shares in the last quarter. 60.47% of the stock is owned by hedge funds and other institutional investors.

Astera Labs Stock Performance

Shares of NASDAQ ALAB traded down $0.31 during mid-day trading on Monday, hitting $59.82. The stock had a trading volume of 1,302,496 shares, compared to its average volume of 3,779,055. The company has a 50 day moving average of $73.46 and a two-hundred day moving average of $91.14. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39. The firm has a market cap of $9.70 billion and a PE ratio of -34.58.

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Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing the consensus estimate 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%. Equities research analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ALAB. Northland Securities raised shares of Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price target for the company in a research report on Tuesday, January 28th. Needham & Company LLC restated a "buy" rating and set a $140.00 target price on shares of Astera Labs in a report on Tuesday, February 11th. Raymond James started coverage on Astera Labs in a report on Friday, March 14th. They issued an "outperform" rating and a $82.00 price target on the stock. Craig Hallum upped their price objective on Astera Labs from $105.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Finally, Morgan Stanley cut their target price on Astera Labs from $142.00 to $114.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Astera Labs currently has an average rating of "Buy" and an average price target of $112.77.

Insider Transactions at Astera Labs

In related news, Director Manuel Alba sold 63,000 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $63.37, for a total value of $3,992,310.00. Following the transaction, the director now directly owns 444,863 shares of the company's stock, valued at approximately $28,190,968.31. This trade represents a 12.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael E. Hurlston sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total value of $230,200.00. Following the sale, the director now 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 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.