Harvest Fund Management Co. Ltd Takes Position in Astera Labs, Inc. (NASDAQ:ALAB)

Harvest Fund Management Co. Ltd acquired a new stake in Astera Labs, Inc. (NASDAQ:ALAB) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,766 shares of the company’s stock, valued at approximately $629,000.

Several other hedge funds also recently modified their holdings of ALAB. CIBC Asset Management Inc bought a new stake in shares of Astera Labs in the 3rd quarter valued at $237,000. Avior Wealth Management LLC bought a new stake in shares of Astera Labs in the 3rd quarter valued at $361,000. First Horizon Advisors Inc. bought a new stake in shares of Astera Labs in the 3rd quarter valued at $49,000. Massachusetts Financial Services Co. MA increased its stake in shares of Astera Labs by 253.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 322,993 shares of the company’s stock valued at $16,922,000 after acquiring an additional 231,585 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in shares of Astera Labs in the 3rd quarter valued at $52,049,000. Institutional investors own 60.47% of the company’s stock.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, CEO Jitendra Mohan sold 350,680 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the sale, the chief executive officer now directly owns 2,353,655 shares of the company’s stock, valued at $210,675,659.05. This represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael Truett Tate sold 125,800 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were 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 directly owns 244,242 shares in the company, valued at approximately $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. Insiders have sold a total of 570,990 shares of company stock valued at $50,242,702 over the last three months.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Needham & Company LLC restated a “buy” rating and set a $140.00 price target on shares of Astera Labs in a research note on Tuesday, February 11th. Craig Hallum boosted their price target on shares of Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Barclays boosted their price target on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Morgan Stanley decreased their price target on shares of 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, Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $112.77.

Astera Labs Stock Performance

ALAB opened at $68.97 on Friday. The firm has a market cap of $11.18 billion and a P/E ratio of -39.87. The firm has a 50-day moving average of $92.41 and a 200 day moving average of $88.70. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing the consensus estimate 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 predict that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

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.