CIBC Asset Management Inc Purchases 237 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

CIBC Asset Management Inc lifted its position in Astera Labs, Inc. (NASDAQ:ALAB) by 5.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 4,757 shares of the company’s stock after buying an additional 237 shares during the period. CIBC Asset Management Inc’s holdings in Astera Labs were worth $630,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently 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 acquiring an additional 20,388 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Astera Labs in the third quarter valued at about $530,000. Avior Wealth Management LLC purchased a new position in Astera Labs in the third quarter valued at about $361,000. Maverick Capital Ltd. grew its stake in Astera Labs by 16.0% in the third quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock valued at $60,575,000 after purchasing an additional 159,480 shares during the last quarter. Finally, Bank of Hawaii purchased a new position in Astera Labs in the third quarter valued at about $1,409,000. 60.47% of the stock is currently owned by institutional investors.

Insider Activity at Astera Labs

In related news, Director Stefan A. Dyckerhoff sold 7,814 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $107.17, for a total value of $837,426.38. Following the sale, the director now owns 121,803 shares in the company, valued at $13,053,627.51. This represents a 6.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael Truett Tate sold 16,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $117.84, for a total value of $1,885,440.00. Following the completion of the transaction, the chief financial officer now directly owns 1,412,888 shares of the company’s stock, valued at $166,494,721.92. The trade was a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 883,370 shares of company stock worth $86,643,058 over the last quarter.

Analysts Set New Price Targets

Several equities analysts have issued reports on ALAB shares. Craig Hallum lifted their target price on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Stifel Nicolaus lifted their target price on Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft lifted their target price on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $140.00 target price on shares of Astera Labs in a research note on Tuesday, February 11th. One research 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $115.33.

Astera Labs Stock Down 3.1 %

Shares of NASDAQ ALAB opened at $85.72 on Friday. The business’s 50 day moving average price is $116.72 and its 200 day moving average price is $85.13. The firm has a market cap of $13.90 billion and a P/E ratio of -49.55. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Monday, February 10th. The company reported $0.10 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%. As a group, research analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current 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.