Lord Abbett & CO. LLC Increases Stock Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

Lord Abbett & CO. LLC grew its holdings in Astera Labs, Inc. (NASDAQ:ALAB) by 318.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,818,600 shares of the company’s stock after acquiring an additional 1,384,498 shares during the quarter. Astera Labs accounts for approximately 0.8% of Lord Abbett & CO. LLC’s holdings, making the stock its 26th largest holding. Lord Abbett & CO. LLC owned 1.15% of Astera Labs worth $240,873,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in 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 during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Astera Labs by 2,328.5% in the fourth quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company’s stock valued at $519,506,000 after purchasing an additional 3,760,765 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Astera Labs by 50.5% in the fourth quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company’s stock worth $312,644,000 after purchasing an additional 792,153 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of Astera Labs during the fourth quarter worth about $229,991,000. Finally, Massachusetts Financial Services Co. MA boosted its position in Astera Labs by 418.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,674,000 shares of the company’s stock valued at $221,721,000 after buying an additional 1,351,007 shares during the last quarter. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Manuel Alba sold 63,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the transaction, the director now owns 444,863 shares in the company, valued at $28,190,968.31. This trade represents a 12.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jitendra Mohan sold 350,680 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 2,353,655 shares in the company, valued at approximately $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. Insiders sold 633,990 shares of company stock valued at $54,235,012 in the last ninety days.

Astera Labs Price Performance

NASDAQ ALAB opened at $64.55 on Friday. The stock has a market capitalization of $10.47 billion and a P/E ratio of -37.31. The firm’s 50-day moving average is $66.90 and its two-hundred day moving average is $91.05. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39.

Astera Labs (NASDAQ:ALAB) last released 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%. As a group, analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current year.

Analysts Set New Price Targets

ALAB has been the subject of a number of recent research reports. Northland Capmk raised shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Stifel Nicolaus reduced their price objective on Astera Labs from $150.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Craig Hallum lifted their price target on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Northland Securities raised shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a report on Tuesday, January 28th. Finally, Citigroup cut their price target on shares of Astera Labs from $120.00 to $100.00 and set a “buy” rating for the company in a report on Monday, April 14th. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $109.25.

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.