5,905 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA acquired a new stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,905 shares of the company's stock, valued at approximately $782,000.

Several other institutional investors also recently bought and sold shares of ALAB. 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 raised its holdings in Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock valued at $26,000 after acquiring an additional 99 shares during the last quarter. Kestra Investment Management LLC purchased 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 in the 4th quarter worth approximately $36,000. Finally, Global Retirement Partners LLC boosted its holdings in shares of 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 purchasing an additional 284 shares during the last quarter. 60.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Astera Labs

In related news, CEO Jitendra Mohan sold 350,680 shares of Astera Labs stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total value of $31,389,366.80. Following the completion of the transaction, the chief executive officer now directly owns 2,353,655 shares in the company, valued at approximately $210,675,659.05. This trade represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michael Truett Tate sold 125,800 shares of the company's stock in a transaction dated 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 sale, the chief financial officer now owns 244,242 shares in the company, valued at approximately $20,157,292.26. This trade represents a 34.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 633,990 shares of company stock worth $54,235,012.

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Astera Labs Stock Performance

Shares of ALAB traded up $1.27 during midday trading on Friday, hitting $60.13. 4,527,452 shares of the stock were exchanged, compared to its average volume of 3,778,347. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39. The stock has a fifty day simple moving average of $73.46 and a 200 day simple moving average of $90.89. The firm has a market cap of $9.75 billion and a P/E ratio of -34.76.

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 net margin of 21.05% and a negative return on equity of 10.40%. As a group, equities research analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ALAB has been the topic of a number of analyst reports. Craig Hallum lifted 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. Northland Securities raised shares of Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price objective for the company in a report on Tuesday, January 28th. Morgan Stanley reduced their target price on shares of Astera Labs from $142.00 to $114.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 28th. Raymond James began coverage on shares of Astera Labs in a research note on Friday, March 14th. They issued an "outperform" rating and a $82.00 price target for the company. Finally, Stifel Nicolaus raised their price target on shares of Astera Labs from $100.00 to $150.00 and gave the stock 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 MarketBeat.com, Astera Labs currently has a consensus rating of "Buy" and a consensus price target of $112.77.

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.