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:ALAB) 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.

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:ALAB) 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

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.