Maryland State Retirement & Pension System Purchases Shares of 5,772 Astera Labs, Inc. (NASDAQ:ALAB)

Maryland State Retirement & Pension System acquired a new position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,772 shares of the company's stock, valued at approximately $765,000.

Several other large investors have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC raised its stake in Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock worth $26,000 after acquiring an additional 99 shares during the last quarter. Kestra Investment Management LLC acquired a new position in Astera Labs in the 4th quarter worth approximately $28,000. Geneos Wealth Management Inc. purchased a new position in Astera Labs during the 4th quarter worth approximately $36,000. Global Retirement Partners LLC raised its position 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 buying an additional 284 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new stake in Astera Labs during the 4th quarter valued at approximately $42,000. Institutional investors own 60.47% of the company's stock.

Insider Activity at Astera Labs

In other Astera Labs news, General Counsel Philip Mazzara sold 7,536 shares of the business's 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 owns 241,209 shares in the company, valued at $22,208,112.63. The trade was a 3.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael E. Hurlston sold 2,500 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total transaction of $230,200.00. Following the completion of the sale, the director now directly owns 91,794 shares in the company, valued at approximately $8,452,391.52. This represents a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 570,990 shares of company stock worth $50,242,702.

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Astera Labs Stock Performance

Shares of ALAB traded down $2.01 during mid-day trading on Friday, hitting $60.78. 3,132,437 shares of the company were exchanged, compared to its average volume of 3,661,674. The stock has a market cap of $9.86 billion and a price-to-earnings ratio of -35.13. The company has a 50 day moving average of $86.45 and a 200-day moving average of $89.68. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39.

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

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Stifel Nicolaus increased their price objective on shares of Astera Labs from $100.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Craig Hallum raised their target price on Astera Labs from $105.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Morgan Stanley reduced their price target on Astera Labs from $142.00 to $114.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 28th. Barclays raised their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. Finally, Northland Securities upgraded shares of Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 target price for the company in a research note on Tuesday, January 28th. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $112.77.

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.