Nomura Asset Management Co. Ltd. Takes $50.87 Million Position in Astera Labs, Inc. (NASDAQ:ALAB)

Nomura Asset Management Co. Ltd. bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 384,056 shares of the company's stock, valued at approximately $50,868,000. Nomura Asset Management Co. Ltd. owned approximately 0.24% of Astera Labs as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Astera Labs in the fourth quarter valued at about $25,000. Steward Partners Investment Advisory LLC increased its holdings in 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 buying an additional 99 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Astera Labs during the 4th quarter valued at approximately $28,000. Geneos Wealth Management Inc. purchased a new stake in shares of Astera Labs during the 4th quarter worth approximately $36,000. Finally, Global Retirement Partners LLC grew its holdings in shares of Astera Labs by 3,155.6% in 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 during the period. 60.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ALAB. Barclays lifted their price objective on Astera Labs from $87.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Morgan Stanley cut their price target 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 assumed 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. Needham & Company LLC restated a "buy" rating and set a $140.00 target price on shares of Astera Labs in a research report on Tuesday, February 11th. Finally, Stifel Nicolaus upped their price target on shares of Astera Labs from $100.00 to $150.00 and gave the company a "buy" rating in a report on Monday, January 6th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Astera Labs presently has an average rating of "Buy" and a consensus target price of $112.77.

Remove Ads

Insider Buying and Selling

In related news, CFO Michael Truett Tate sold 125,800 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $82.53, for a total value of $10,382,274.00. Following the transaction, the chief financial officer now directly owns 244,242 shares of the company's stock, valued at approximately $20,157,292.26. This trade represents a 34.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jitendra Mohan sold 350,680 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total value of $31,389,366.80. Following the sale, the chief executive officer now directly owns 2,353,655 shares of the company's stock, valued at approximately $210,675,659.05. This trade represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 570,990 shares of company stock valued at $50,242,702.

Astera Labs Stock Up 3.5 %

Shares of ALAB stock traded up $2.19 during mid-day trading on Wednesday, hitting $64.20. 1,812,508 shares of the company's stock were exchanged, compared to its average volume of 3,658,648. The stock has a market cap of $10.41 billion and a price-to-earnings ratio of -37.11. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The stock has a 50-day simple moving average of $82.28 and a two-hundred day simple moving average of $90.80.

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

About Astera Labs

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.