US Bancorp DE Raises Stake in Astera Labs, Inc. (NASDAQ:ALAB)

US Bancorp DE raised its position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 627.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,350 shares of the company's stock after acquiring an additional 5,477 shares during the quarter. US Bancorp DE's holdings in Astera Labs were worth $841,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tidal Investments LLC increased its stake in Astera Labs by 81.8% in the 3rd quarter. Tidal Investments LLC now owns 45,298 shares of the company's stock valued at $2,373,000 after buying an additional 20,388 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Astera Labs in the 3rd quarter worth $530,000. Avior Wealth Management LLC bought a new position in shares of Astera Labs during the third quarter valued at about $361,000. Maverick Capital Ltd. raised its stake in shares of Astera Labs by 16.0% during the third quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company's stock valued at $60,575,000 after acquiring an additional 159,480 shares during the last quarter. Finally, Bank of Hawaii bought a new position in Astera Labs in the third quarter worth about $1,409,000. Institutional investors own 60.47% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Craig Hallum raised their target price on shares of Astera Labs from $105.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Raymond James started coverage on shares of Astera Labs in a report on Friday. They issued an "outperform" rating and a $82.00 price target for the company. Morgan Stanley dropped 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 report on Tuesday, January 28th. Stifel Nicolaus upped their price objective on shares of Astera Labs from $100.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Finally, Northland Securities upgraded 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 research report on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Astera Labs presently has an average rating of "Buy" and a consensus target price of $112.77.

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Insiders Place Their Bets

In related news, Director Michael E. Hurlston sold 2,500 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total transaction of $230,200.00. Following the completion of the sale, the director now directly owns 91,794 shares of the company's stock, valued at approximately $8,452,391.52. This represents a 2.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Philip Mazzara sold 7,536 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total transaction of $693,839.52. Following the transaction, the general counsel now directly owns 241,209 shares of the company's stock, valued at $22,208,112.63. This represents a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 570,990 shares of company stock valued at $50,242,702 in the last 90 days.

Astera Labs Stock Up 10.5 %

Shares of Astera Labs stock traded up $6.86 during trading on Friday, hitting $72.18. The stock had a trading volume of 3,692,623 shares, compared to its average volume of 3,800,209. The stock has a 50 day simple moving average of $98.99 and a 200 day simple moving average of $87.81. The company has a market capitalization of $11.70 billion and a PE ratio of -41.72. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share 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%. As a group, equities analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal 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.