Astera Labs, Inc. (NASDAQ:ALAB) Shares Acquired by Alliancebernstein L.P.

Alliancebernstein L.P. increased its position in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 2,328.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,922,278 shares of the company’s stock after acquiring an additional 3,760,765 shares during the quarter. Alliancebernstein L.P. owned approximately 2.47% of Astera Labs worth $519,506,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. CIBC Private Wealth Group LLC grew its stake in shares of Astera Labs by 44.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,650 shares of the company’s stock valued at $477,000 after buying an additional 1,125 shares during the period. Schroder Investment Management Group acquired a new position in Astera Labs in the fourth quarter valued at approximately $437,000. Pictet Asset Management Holding SA acquired a new position in Astera Labs in the fourth quarter valued at approximately $782,000. Nomura Asset Management Co. Ltd. purchased a new position in Astera Labs in the fourth quarter worth approximately $50,868,000. Finally, Norges Bank acquired a new stake in Astera Labs during the fourth quarter worth $179,229,000. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Analysts Set New Price Targets

ALAB has been the subject of a number of recent analyst reports. Craig Hallum raised their price objective on Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Raymond James started coverage on shares of Astera Labs in a research report on Friday, March 14th. They set an “outperform” rating and a $82.00 price target for the company. Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Morgan Stanley dropped their target price on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Finally, Stifel Nicolaus upped their price target on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Astera Labs presently has an average rating of “Buy” and an average price target of $112.77.

Astera Labs Price Performance

Shares of NASDAQ ALAB opened at $60.78 on Monday. The stock’s 50-day moving average is $85.00 and its two-hundred day moving average is $90.54. The company has a market cap of $9.86 billion and a price-to-earnings ratio of -35.13. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year 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 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 anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Transactions at Astera Labs

In other news, Director Michael E. Hurlston sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total transaction of $230,200.00. Following the sale, the director now owns 91,794 shares of the company’s stock, valued at approximately $8,452,391.52. This trade represents a 2.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jitendra Mohan sold 350,680 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total value of $31,389,366.80. Following the completion of the transaction, the chief executive officer now directly owns 2,353,655 shares of the company’s stock, valued at $210,675,659.05. This trade represents a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 570,990 shares of company stock valued at $50,242,702.

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.