Astera Labs, Inc. (NASDAQ:ALAB) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lifted its stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 418.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,674,000 shares of the company's stock after purchasing an additional 1,351,007 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.06% of Astera Labs worth $221,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in ALAB. Steward Partners Investment Advisory LLC grew its stake 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 worth $26,000 after acquiring an additional 99 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in Astera Labs during the 4th quarter worth approximately $25,000. Kestra Investment Management LLC bought a new stake in Astera Labs during the fourth quarter valued at about $28,000. GAMMA Investing LLC raised its stake in Astera Labs by 78.3% during the 4th quarter. GAMMA Investing LLC now owns 510 shares of the company's stock valued at $68,000 after purchasing an additional 224 shares during the period. Finally, CIBC Asset Management Inc lifted its holdings in shares of Astera Labs by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 4,757 shares of the company's stock worth $630,000 after buying an additional 237 shares in the last quarter. Institutional investors own 60.47% of the company's stock.

Insider Transactions at Astera Labs

In other Astera Labs news, Director Michael E. Hurlston sold 2,500 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total value of $230,200.00. Following the transaction, the director now directly owns 91,794 shares in the company, valued at $8,452,391.52. The trade was a 2.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Manuel Alba sold 63,000 shares of the business's stock in a transaction dated 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 completion of the sale, the director now owns 444,863 shares in the company, valued at approximately $28,190,968.31. This trade represents a 12.40 % 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.

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Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ALAB shares. Craig Hallum increased their price target on Astera Labs from $105.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Stifel Nicolaus raised their price target on Astera Labs from $100.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. 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 research report on Tuesday, January 28th. Raymond James initiated coverage on shares of Astera Labs in a research note on Friday, March 14th. They set an "outperform" rating and a $82.00 price objective on the stock. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $140.00 target price on shares of Astera Labs in a report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $112.77.

Astera Labs Trading Up 19.8 %

NASDAQ ALAB traded up $10.62 on Wednesday, hitting $64.33. 7,018,786 shares of the company's stock traded hands, compared to its average volume of 3,760,270. The firm's 50-day moving average price is $75.08 and its two-hundred day moving average price is $90.78. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39. The firm has a market capitalization of $10.43 billion and a PE ratio of -37.18.

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 return on equity of 10.40% and a negative net margin of 21.05%. On average, research analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

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.