KLP Kapitalforvaltning AS Takes $1.02 Million Position in Astera Labs, Inc. (NASDAQ:ALAB)

KLP Kapitalforvaltning AS bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,700 shares of the company's stock, valued at approximately $1,020,000.

Other hedge funds also recently made changes to their positions in the company. Jennison Associates LLC acquired a new stake in Astera Labs during the fourth quarter worth approximately $229,991,000. JPMorgan Chase & Co. grew its holdings in shares of Astera Labs by 3.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company's stock worth $82,164,000 after purchasing an additional 47,569 shares in the last quarter. State Street Corp increased its position in shares of Astera Labs by 173.1% in the third quarter. State Street Corp now owns 698,467 shares of the company's stock worth $36,593,000 after purchasing an additional 442,698 shares during the period. Amundi raised its stake in Astera Labs by 1,643,487.1% in the fourth quarter. Amundi now owns 509,512 shares of the company's stock valued at $66,629,000 after purchasing an additional 509,481 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Astera Labs by 0.8% in the third quarter. Geode Capital Management LLC now owns 444,887 shares of the company's stock valued at $23,312,000 after purchasing an additional 3,628 shares in the last quarter. 60.47% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Northland Capmk raised shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 28th. Needham & Company LLC restated a "buy" rating and set a $140.00 price objective on shares of Astera Labs in a research report on Tuesday, February 11th. Morgan Stanley cut their target price on Astera Labs from $142.00 to $114.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 28th. Raymond James started coverage on Astera Labs in a research note on Friday, March 14th. They issued an "outperform" rating and a $82.00 price target on the stock. Finally, 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 report on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $112.77.

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Insider Transactions at Astera Labs

In other news, General Counsel Philip Mazzara sold 7,536 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total transaction of $693,839.52. Following the completion of the transaction, the general counsel now directly owns 241,209 shares of the company's stock, valued at $22,208,112.63. This represents a 3.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Truett Tate sold 125,800 shares of Astera Labs stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 244,242 shares in the company, valued at $20,157,292.26. This trade represents a 34.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 570,990 shares of company stock valued at $50,242,702 over the last three months.

Astera Labs Trading Down 13.1 %

NASDAQ ALAB traded down $8.40 on Thursday, hitting $55.68. 6,455,760 shares of the company were exchanged, compared to its average volume of 3,692,683. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39. The company has a market cap of $9.03 billion and a PE ratio of -32.18. The stock has a fifty day moving average of $79.74 and a 200-day moving average of $90.37.

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

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.