SBI Securities Co. Ltd. Purchases New Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

SBI Securities Co. Ltd. bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 12,537 shares of the company's stock, valued at approximately $1,661,000.

Other large investors have also recently bought and sold shares of the company. US Bancorp DE increased its position in Astera Labs by 627.4% during the fourth quarter. US Bancorp DE now owns 6,350 shares of the company's stock worth $841,000 after buying an additional 5,477 shares during the period. Versor Investments LP acquired a new position in shares of Astera Labs in the 4th quarter valued at $451,000. Proficio Capital Partners LLC raised its position in Astera Labs by 1,008.3% in the 4th quarter. Proficio Capital Partners LLC now owns 235,364 shares of the company's stock valued at $31,174,000 after purchasing an additional 214,128 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in Astera Labs during the 4th quarter worth $3,476,000. Finally, Whipplewood Advisors LLC purchased a new position in Astera Labs during the 4th quarter worth $66,000. Hedge funds and other institutional investors own 60.47% of the company's stock.

Insider Buying and Selling

In other Astera Labs news, CEO Jitendra Mohan sold 350,680 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now owns 2,353,655 shares of the company's stock, valued at $210,675,659.05. The trade was a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael E. Hurlston sold 2,500 shares of Astera Labs 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 transaction, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 570,990 shares of company stock worth $50,242,702.

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Analyst Ratings Changes

A number of equities research analysts have recently commented on ALAB shares. Northland Securities raised 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 report on Tuesday, January 28th. Morgan Stanley reduced their price objective 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. Northland Capmk raised Astera Labs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 28th. Needham & Company LLC reaffirmed a "buy" rating and issued a $140.00 target price on shares of Astera Labs in a report on Tuesday, February 11th. Finally, Barclays raised their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, January 17th. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $115.33.

Astera Labs Stock Performance

Shares of ALAB stock traded down $7.00 during mid-day trading on Thursday, reaching $61.58. 3,615,414 shares of the company were exchanged, compared to its average volume of 3,774,001. The business's 50 day simple moving average is $107.61 and its 200 day simple moving average is $87.09. The company has a market capitalization of $9.98 billion and a P/E ratio of -35.57. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its quarterly earnings data on Monday, February 10th. The company reported $0.10 EPS 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%. On average, analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current year.

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.