Treasurer of the State of North Carolina Has $6.30 Million Stock Position in Astera Labs, Inc. (NASDAQ:ALAB)

Treasurer of the State of North Carolina grew its stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 393.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,550 shares of the company's stock after buying an additional 37,920 shares during the quarter. Treasurer of the State of North Carolina's holdings in Astera Labs were worth $6,298,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ALAB. Whittier Trust Co. of Nevada Inc. bought a new stake in Astera Labs in the 4th quarter valued at approximately $25,000. Steward Partners Investment Advisory LLC raised its holdings 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 valued at $26,000 after purchasing an additional 99 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Astera Labs in the fourth quarter valued at approximately $28,000. Geneos Wealth Management Inc. bought a new stake in shares of Astera Labs in the fourth quarter worth $36,000. Finally, Global Retirement Partners LLC boosted its holdings 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 purchasing an additional 284 shares during the last quarter. Institutional investors own 60.47% of the company's stock.

Analysts Set New Price Targets

ALAB has been the topic of several recent research reports. Needham & Company LLC reiterated a "buy" rating and issued a $140.00 price target on shares of Astera Labs in a research note on Tuesday, February 11th. Northland Capmk upgraded Astera Labs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 28th. Northland Securities upgraded Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price target for the company in a research note on Tuesday, January 28th. Craig Hallum upped their price objective on Astera Labs from $105.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Finally, Citigroup decreased their target price on shares of Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Monday, April 14th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $109.25.

Insiders Place Their Bets

In related news, CEO Jitendra Mohan sold 350,680 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 2,353,655 shares in the company, valued at approximately $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 SEC, which is accessible through this link. Also, General Counsel Philip Mazzara sold 50,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $87.46, for a total value of $4,373,000.00. Following the sale, the general counsel now directly owns 191,209 shares in the company, valued at $16,723,139.14. This represents a 20.73 % decrease in their position. 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.

Astera Labs Stock Performance

Shares of ALAB stock traded up $0.18 during midday trading on Friday, hitting $58.96. 1,941,533 shares of the company were exchanged, compared to its average volume of 3,803,702. The firm has a market capitalization of $9.56 billion and a P/E ratio of -34.08. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39. The firm's 50 day moving average price is $69.23 and its two-hundred day moving average price is $91.42.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted 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%. Analysts expect 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.