Astera Labs, Inc. (NASDAQ:ALAB) Shares Purchased by Emerald Advisers LLC

Emerald Advisers LLC raised its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 71.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 10,788 shares of the company’s stock after buying an additional 4,492 shares during the period. Emerald Advisers LLC’s holdings in Astera Labs were worth $1,429,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Astera Labs by 354.9% in the 4th quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company’s stock worth $1,220,080,000 after acquiring an additional 7,186,582 shares in the last quarter. Fred Alger Management LLC grew its position in shares of Astera Labs by 1,361.0% in the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after acquiring an additional 2,628,765 shares in the last quarter. Jennison Associates LLC acquired a new position in shares of Astera Labs in the 4th quarter worth approximately $229,991,000. Westfield Capital Management Co. LP acquired a new position in shares of Astera Labs in the 3rd quarter worth approximately $52,049,000. Finally, The Manufacturers Life Insurance Company boosted its position in Astera Labs by 15,477.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock valued at $46,054,000 after purchasing an additional 873,412 shares during the period. Institutional investors and hedge funds own 60.47% of the company’s stock.

Insider Buying and Selling

In other news, General Counsel Philip Mazzara sold 50,000 shares of Astera Labs stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $87.46, for a total transaction of $4,373,000.00. Following the transaction, the general counsel now owns 191,209 shares in the company, valued at approximately $16,723,139.14. The trade was a 20.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael Truett Tate sold 125,800 shares of Astera Labs stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total value 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. This represents a 34.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 570,990 shares of company stock worth $50,242,702 in the last three months.

Astera Labs Stock Up 3.1 %

Shares of NASDAQ ALAB opened at $71.10 on Monday. The stock has a market capitalization of $11.53 billion and a price-to-earnings ratio of -41.10. The stock’s fifty day simple moving average is $91.24 and its 200 day simple moving average is $89.57. 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 earnings per share (EPS) 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, analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ALAB shares. Craig Hallum boosted their price objective on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research report 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 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 Astera Labs in a research note on Friday, March 14th. They set an “outperform” rating and a $82.00 target price on the stock. Finally, Morgan Stanley cut their target price on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $112.77.

Astera Labs 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.