Daiwa Securities Group Inc. Buys New Shares in Astera Labs, Inc. (NASDAQ:ALAB)

Daiwa Securities Group Inc. purchased a new position in shares of Astera Labs, Inc. (NASDAQ:ALABFree Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,160 shares of the company’s stock, valued at approximately $3,067,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Fred Alger Management LLC lifted its stake in 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 valued at $147,840,000 after purchasing an additional 2,628,765 shares during the last quarter. Jennison Associates LLC bought a new position in shares of Astera Labs during the 4th quarter worth approximately $229,991,000. Westfield Capital Management Co. LP acquired a new position in shares of Astera Labs during the 3rd quarter worth approximately $52,049,000. The Manufacturers Life Insurance Company raised its stake in Astera Labs by 15,477.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock valued at $46,054,000 after acquiring an additional 873,412 shares during the period. Finally, Spyglass Capital Management LLC acquired a new stake in Astera Labs during the 3rd quarter valued at $38,565,000. Institutional investors and hedge funds own 60.47% of the company’s stock.

Insider Transactions at Astera Labs

In other news, CEO Jitendra Mohan sold 350,680 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was 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 in the company, valued at approximately $210,675,659.05. The trade was a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Philip Mazzara sold 7,536 shares of Astera Labs stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total transaction of $693,839.52. Following the sale, the general counsel now owns 241,209 shares in the company, valued at approximately $22,208,112.63. This represents a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 570,990 shares of company stock worth $50,242,702.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a report on Tuesday, January 28th. Needham & Company LLC reiterated a “buy” rating and set a $140.00 target price on shares of Astera Labs in a research note on Tuesday, February 11th. Stifel Nicolaus lifted their price target on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Citigroup assumed coverage on Astera Labs in a report on Monday, November 18th. They issued a “buy” rating and a $120.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $115.33.

View Our Latest Analysis on Astera Labs

Astera Labs Stock Down 5.1 %

Shares of Astera Labs stock opened at $65.32 on Friday. The firm’s 50-day moving average price is $98.99 and its two-hundred day moving average price is $87.81. The company has a market capitalization of $10.59 billion and a price-to-earnings ratio of -37.76. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39.

Astera Labs (NASDAQ:ALABGet Free Report) last announced 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%. On average, sell-side analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Astera Labs Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding ALAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Astera Labs, Inc. (NASDAQ:ALABFree Report).

Institutional Ownership by Quarter for Astera Labs (NASDAQ:ALAB)

Receive News & Ratings for Astera Labs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Astera Labs and related companies with MarketBeat.com's FREE daily email newsletter.