Trek Financial LLC purchased a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 15,320 shares of the company's stock, valued at approximately $2,029,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Astera Labs by 354.9% in the 4th quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company's stock worth $1,220,080,000 after purchasing an additional 7,186,582 shares during the period. Alliancebernstein L.P. grew its stake in shares of Astera Labs by 2,328.5% during the fourth quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company's stock valued at $519,506,000 after buying an additional 3,760,765 shares during the last quarter. Jennison Associates LLC purchased a new position in shares of Astera Labs in the fourth quarter worth about $229,991,000. Norges Bank bought a new stake in shares of Astera Labs in the 4th quarter valued at about $179,229,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Astera Labs by 418.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,674,000 shares of the company's stock valued at $221,721,000 after acquiring an additional 1,351,007 shares during the period. 60.47% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, Director Manuel Alba sold 63,000 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $63.37, for a total value of $3,992,310.00. Following the transaction, the director now owns 444,863 shares in the company, valued at approximately $28,190,968.31. This represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Michael Truett Tate sold 125,800 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total value of $10,382,274.00. Following the completion of the transaction, the chief financial officer now directly owns 244,242 shares in the company, valued at $20,157,292.26. This trade represents a 34.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 633,990 shares of company stock valued at $54,235,012.
Astera Labs Trading Up 2.2 %
ALAB traded up $1.27 during trading on Friday, reaching $60.13. The stock had a trading volume of 4,527,452 shares, compared to its average volume of 3,778,347. The company has a market capitalization of $9.75 billion and a price-to-earnings ratio of -34.76. The stock's 50 day moving average is $73.46 and its two-hundred day moving average is $90.89. 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 issued its quarterly earnings results on Monday, February 10th. The company reported $0.10 earnings per share (EPS) 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%. On average, equities research analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current year.
Analyst Ratings Changes
ALAB has been the subject of several recent research reports. Craig Hallum boosted their price objective on Astera Labs from $105.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. Raymond James assumed coverage on shares of Astera Labs in a report on Friday, March 14th. They set an "outperform" rating and a $82.00 price target for the company. Barclays raised their price target on shares of Astera Labs from $87.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Needham & Company LLC reaffirmed a "buy" rating and set a $140.00 price objective on shares of Astera Labs in a research note on Tuesday, February 11th. Finally, Northland Capmk raised Astera Labs from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Astera Labs presently has a consensus rating of "Buy" and a consensus price target of $112.77.
Check Out Our Latest Stock Report on Astera Labs
About Astera Labs
(
Free Report)
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.
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