Astera Labs, Inc. (NASDAQ:ALAB) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund grew its position in Astera Labs, Inc. (NASDAQ:ALAB) by 1.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 122,249 shares of the company’s stock after acquiring an additional 1,919 shares during the quarter. New York State Common Retirement Fund’s holdings in Astera Labs were worth $16,192,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Fred Alger Management LLC boosted its stake in Astera Labs by 1,361.0% during the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after purchasing an additional 2,628,765 shares during the period. Jennison Associates LLC purchased a new stake in shares of Astera Labs in the fourth quarter valued at about $229,991,000. Westfield Capital Management Co. LP acquired a new stake in shares of Astera Labs during the third quarter worth about $52,049,000. The Manufacturers Life Insurance Company grew its holdings in shares of Astera Labs by 15,477.8% during the third quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock worth $46,054,000 after buying an additional 873,412 shares during the last quarter. Finally, Spyglass Capital Management LLC acquired a new position in Astera Labs in the 3rd quarter valued at about $38,565,000. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, CFO Michael Truett Tate sold 167,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $102.94, for a total transaction of $17,190,980.00. Following the completion of the transaction, the chief financial officer now directly owns 1,595,888 shares in the company, valued at approximately $164,280,710.72. This trade represents a 9.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jitendra Mohan sold 350,680 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 2,353,655 shares in the company, valued at $210,675,659.05. This represents a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 710,004 shares of company stock valued at $67,551,994.

Astera Labs Trading Down 3.1 %

Shares of ALAB opened at $85.72 on Monday. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39. The firm has a market capitalization of $13.90 billion and a P/E ratio of -49.55. The firm’s 50-day moving average is $116.72 and its two-hundred day moving average is $85.48.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results 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 return on equity of 10.40% and a negative net margin of 21.05%. Analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. 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 research report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft increased their price target on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Barclays boosted their price objective 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. JPMorgan Chase & Co. lifted their target price on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Citigroup began coverage on shares of Astera Labs in a research note on Monday, November 18th. They set a “buy” rating and a $120.00 price target on the stock. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $115.33.

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.