Sterling Capital Management LLC Purchases 5,372 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Sterling Capital Management LLC grew its holdings in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 656.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,190 shares of the company's stock after purchasing an additional 5,372 shares during the quarter. Sterling Capital Management LLC's holdings in Astera Labs were worth $820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. acquired a new position in Astera Labs in the fourth quarter valued at approximately $25,000. Steward Partners Investment Advisory LLC increased its stake in shares of 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 in the last quarter. Kestra Investment Management LLC bought a new stake in shares of Astera Labs in the 4th quarter valued at $28,000. Geneos Wealth Management Inc. acquired a new position in shares of Astera Labs during the 4th quarter valued at $36,000. Finally, Global Retirement Partners LLC boosted its stake in Astera Labs by 3,155.6% during the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock worth $39,000 after acquiring an additional 284 shares in the last quarter. Institutional investors own 60.47% of the company's stock.

Insider Transactions at Astera Labs

In related news, CEO Jitendra Mohan sold 350,680 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the completion of the sale, the chief executive officer now 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 filing with the SEC, which is accessible through this link. 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 transaction, the director now owns 444,863 shares in the company, valued at approximately $28,190,968.31. The trade was a 12.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 633,990 shares of company stock worth $54,235,012 in the last 90 days.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Craig Hallum upped their price objective on shares of Astera Labs from $105.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Raymond James initiated coverage on Astera Labs in a research report on Friday, March 14th. They issued an "outperform" rating and a $82.00 target price for the company. Citigroup cut their price target on Astera Labs from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Barclays boosted their price objective on Astera Labs from $87.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, January 17th. Finally, Stifel Nicolaus cut their target price on Astera Labs from $150.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Astera Labs presently has an average rating of "Buy" and a consensus target price of $109.25.

Astera Labs Stock Up 1.6 %

NASDAQ:ALAB traded up $0.89 during trading hours on Tuesday, hitting $55.31. 2,471,449 shares of the company traded hands, compared to its average volume of 3,805,821. The company has a market cap of $8.97 billion and a PE ratio of -31.97. The firm's 50-day simple moving average is $67.92 and its 200-day simple moving average is $91.18. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its earnings results 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 net margin of 21.05% and a negative return on equity of 10.40%. As a group, equities research analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current 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.