Emerald Mutual Fund Advisers Trust Increases Stock Position in Astera Labs, Inc. (NASDAQ:ALAB)

Emerald Mutual Fund Advisers Trust raised its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 429.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 704 shares of the company’s stock after purchasing an additional 571 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in Astera Labs were worth $93,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ALAB. Vanguard Group Inc. boosted its position in shares of Astera Labs by 354.9% during the fourth quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company’s stock valued at $1,220,080,000 after buying an additional 7,186,582 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Astera Labs by 2,328.5% during the 4th quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company’s stock valued at $519,506,000 after acquiring an additional 3,760,765 shares during the last quarter. JPMorgan Chase & Co. grew 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 acquiring an additional 792,153 shares during the period. Lord Abbett & CO. LLC raised its holdings in shares of Astera Labs by 318.9% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company’s stock valued at $240,873,000 after purchasing an additional 1,384,498 shares during the last quarter. Finally, Jennison Associates LLC bought a new position in Astera Labs during the fourth quarter valued at approximately $229,991,000. Institutional investors own 60.47% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ALAB shares. Morgan Stanley decreased 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 research note on Tuesday, January 28th. Needham & Company LLC reissued a “buy” rating and issued a $140.00 target price on shares of Astera Labs in a report on Tuesday, February 11th. Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. 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. Finally, Craig Hallum raised their price objective on shares of Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. One 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $109.25.

Insider Activity

In other news, Director Manuel Alba sold 63,000 shares of the firm’s stock in a transaction dated 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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value 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. Insiders have sold a total of 633,990 shares of company stock worth $54,235,012 over the last quarter.

Astera Labs Stock Performance

Shares of Astera Labs stock opened at $65.65 on Wednesday. The company has a fifty day moving average of $65.42 and a 200 day moving average of $91.34. The company has a market capitalization of $10.65 billion and a P/E ratio of -37.95. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39.

Astera Labs (NASDAQ:ALAB) last released its earnings results on Monday, February 10th. The company reported $0.10 earnings per share (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 forecast that Astera Labs, Inc. will post 0.34 EPS 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.