Northern Trust Corp Boosts Stake in Astera Labs, Inc. (NASDAQ:ALAB)

Northern Trust Corp boosted its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 257.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 296,120 shares of the company’s stock after purchasing an additional 213,343 shares during the period. Northern Trust Corp’s holdings in Astera Labs were worth $39,221,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Steward Partners Investment Advisory LLC lifted its position in shares of Astera Labs by 99.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock valued at $26,000 after buying an additional 99 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in Astera Labs during the fourth quarter valued at approximately $25,000. Kestra Investment Management LLC bought a new position in shares of Astera Labs in the fourth quarter worth approximately $28,000. GAMMA Investing LLC increased its stake in shares of Astera Labs by 78.3% in the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock worth $68,000 after purchasing an additional 224 shares in the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of Astera Labs by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 4,757 shares of the company’s stock valued at $630,000 after purchasing an additional 237 shares during the period. Institutional investors own 60.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ALAB shares. Craig Hallum increased their price target on Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Roth Capital set a $100.00 price target on Astera Labs and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley cut their price objective 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 dropped their target price on shares of Astera Labs from $150.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. One investment 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 company’s stock. According to MarketBeat.com, Astera Labs has a consensus rating of “Buy” and a consensus target price of $100.85.

Astera Labs Trading Down 0.6 %

Shares of NASDAQ:ALAB opened at $71.20 on Friday. The company has a market cap of $11.74 billion, a price-to-earnings ratio of -41.16, a PEG ratio of 6.18 and a beta of 0.33. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39. The company has a 50-day moving average price of $64.32 and a 200 day moving average price of $91.42.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. The firm had revenue of $159.44 million during the quarter, compared to analysts’ expectations of $151.55 million. During the same quarter in the previous year, the business earned $0.10 EPS. The company’s quarterly revenue was up 144.1% on a year-over-year basis. As a group, equities analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current year.

Insider Activity

In related news, Director Michael E. Hurlston sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total transaction of $230,200.00. Following the completion of the sale, the director now directly 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, General Counsel Philip Mazzara sold 7,536 shares of Astera Labs stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total value of $693,839.52. Following the sale, the general counsel now owns 241,209 shares of the company’s stock, valued at approximately $22,208,112.63. This trade represents a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 633,990 shares of company stock valued at $54,235,012.

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.