Voya Investment Management LLC Grows Position in Astera Labs, Inc. (NASDAQ:ALAB)

Voya Investment Management LLC lifted its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 153.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 637,737 shares of the company's stock after purchasing an additional 385,693 shares during the quarter. Voya Investment Management LLC owned 0.40% of Astera Labs worth $84,468,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Fuller & Thaler Asset Management Inc. bought a new position in shares of Astera Labs in the fourth quarter worth $67,334,000. Pinebridge Investments L.P. bought a new position in Astera Labs in the 4th quarter valued at about $211,000. Price T Rowe Associates Inc. MD raised its position in shares of Astera Labs by 1,498.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 222,919 shares of the company's stock valued at $29,526,000 after buying an additional 208,971 shares in the last quarter. Dark Forest Capital Management LP acquired a new stake in shares of Astera Labs during the 4th quarter worth approximately $579,000. Finally, Hsbc Holdings PLC increased its stake in Astera Labs by 19.0% in the fourth quarter. Hsbc Holdings PLC now owns 46,465 shares of the company's stock valued at $6,284,000 after acquiring an additional 7,414 shares during the last quarter. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Astera Labs

In related news, CFO Michael Truett Tate sold 125,800 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $82.53, for a total transaction of $10,382,274.00. Following the transaction, the chief financial officer now owns 244,242 shares in the company, valued at $20,157,292.26. The trade was a 34.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jitendra Mohan sold 350,680 shares of the 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 owns 2,353,655 shares of the company's stock, valued at approximately $210,675,659.05. This trade represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 633,990 shares of company stock valued at $54,235,012.

Astera Labs Stock Down 0.0 %

Astera Labs stock traded down $0.03 during midday trading on Monday, reaching $66.08. The stock had a trading volume of 1,868,368 shares, compared to its average volume of 3,826,007. The firm has a market capitalization of $10.72 billion and a PE ratio of -38.20. The firm's 50-day moving average price is $66.35 and its 200 day moving average price is $91.53. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. Equities research analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current year.

Analyst Ratings Changes

ALAB has been the subject of several research analyst reports. Northland Capmk raised Astera Labs from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 28th. Raymond James began coverage on shares of Astera Labs in a research note on Friday, March 14th. They set an "outperform" rating and a $82.00 target price on the stock. Morgan Stanley dropped their price target 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 Securities raised 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. Finally, Citigroup dropped their price objective on shares of Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a report on Monday, April 14th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $109.25.

Astera Labs Company 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.