LPL Financial LLC Acquires 26,364 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

LPL Financial LLC grew its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 94.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,402 shares of the company's stock after purchasing an additional 26,364 shares during the period. LPL Financial LLC's holdings in Astera Labs were worth $7,205,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Astera Labs by 5.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company's stock valued at $277,000 after buying an additional 284 shares during the period. Quarry LP acquired a new position in Astera Labs in the 3rd quarter valued at $109,000. Stifel Financial Corp lifted its position in shares of Astera Labs by 141.2% during the 3rd quarter. Stifel Financial Corp now owns 98,461 shares of the company's stock valued at $5,158,000 after acquiring an additional 57,638 shares during the period. State Street Corp grew its holdings in shares of Astera Labs by 173.1% during the 3rd 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 in the last quarter. Finally, Wellington Management Group LLP bought a new position in shares of Astera Labs in the third quarter worth $16,031,000. 60.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Northland Securities upgraded shares of Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price objective on the stock in a research note on Tuesday, January 28th. Stifel Nicolaus increased their price target on shares of Astera Labs from $100.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Raymond James started coverage on shares of Astera Labs in a research note on Friday, March 14th. They issued an "outperform" rating and a $82.00 price objective on the stock. Craig Hallum upped their target price 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, Barclays lifted 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. One equities 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $112.77.

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Astera Labs Stock Performance

Shares of ALAB stock traded up $1.27 on Friday, hitting $60.13. The company had a trading volume of 4,527,452 shares, compared to its average volume of 3,778,345. 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 $9.75 billion and a P/E ratio of -34.76. The stock's 50-day moving average is $73.46 and its two-hundred day moving average is $90.89.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its earnings results 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 year.

Insider Buying and Selling

In other news, General Counsel Philip Mazzara sold 50,000 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $87.46, for a total transaction of $4,373,000.00. Following the completion of the sale, the general counsel now owns 191,209 shares of the company's stock, valued at $16,723,139.14. This trade represents a 20.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Manuel Alba sold 63,000 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the transaction, the director now owns 444,863 shares in the company, valued at $28,190,968.31. The trade was a 12.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 633,990 shares of company stock valued at $54,235,012 over the last quarter.

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.