Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 10,416 shares of the company's stock, valued at approximately $1,380,000.
Other institutional investors have also made changes to their positions in the company. Tidal Investments LLC raised its holdings in shares of Astera Labs by 81.8% in the third 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. Proficio Capital Partners LLC raised its holdings in Astera Labs by 1.8% during the 4th quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company's stock worth $2,864,000 after purchasing an additional 390 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Astera Labs during the 3rd quarter worth about $530,000. Avior Wealth Management LLC bought a new stake in Astera Labs during the 3rd quarter worth about $361,000. Finally, Maverick Capital Ltd. raised its holdings in Astera Labs by 16.0% during the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company's stock worth $60,575,000 after purchasing an additional 159,480 shares during the last quarter. 60.47% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other news, CFO Michael Truett Tate sold 125,800 shares of the company's stock in a transaction that occurred on 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 sale, the chief financial officer now owns 244,242 shares in the company, valued at $20,157,292.26. This represents a 34.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Philip Mazzara sold 50,000 shares of the company's 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 owns 191,209 shares in the company, valued at approximately $16,723,139.14. This represents a 20.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 570,990 shares of company stock valued at $50,242,702 in the last quarter.
Wall Street Analyst Weigh In
ALAB has been the subject of several recent research reports. Barclays boosted their price objective on Astera Labs from $87.00 to $135.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Stifel Nicolaus boosted their price objective on Astera Labs from $100.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Northland Securities raised Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price objective for the company in a report on Tuesday, January 28th. Morgan Stanley lowered 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. Finally, Raymond James initiated coverage on Astera Labs in a research note on Friday, March 14th. They issued an "outperform" rating and a $82.00 price target for the company. One investment 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 company. According to data from MarketBeat, Astera Labs has a consensus rating of "Buy" and a consensus target price of $112.77.
Check Out Our Latest Report on ALAB
Astera Labs Stock Up 3.1 %
Shares of ALAB traded up $2.13 on Friday, hitting $71.10. The company's stock had a trading volume of 3,649,365 shares, compared to its average volume of 3,703,058. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The firm's fifty day moving average price is $91.24 and its 200-day moving average price is $88.89. The firm has a market capitalization of $11.53 billion and a price-to-earnings ratio of -41.10.
Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings results 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 predict that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.
Astera Labs Company Profile
(
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.
Featured Stories
Before you consider Astera Labs, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Astera Labs wasn't on the list.
While Astera Labs currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
