4,956 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Acquired by Ethic Inc.

Ethic Inc. purchased a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 4,956 shares of the company’s stock, valued at approximately $656,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Proficio Capital Partners LLC lifted its stake in shares of Astera Labs by 1.8% during the 4th quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company’s stock worth $2,864,000 after acquiring an additional 390 shares during the last quarter. Peregrine Investment Management Inc. bought a new stake in shares of Astera Labs during the 4th quarter worth approximately $10,701,000. Elemental Capital Partners LLC bought a new stake in shares of Astera Labs during the 4th quarter worth approximately $1,346,000. Renaissance Capital LLC raised its position in Astera Labs by 381.0% during the 4th quarter. Renaissance Capital LLC now owns 114,276 shares of the company’s stock valued at $15,136,000 after purchasing an additional 90,516 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Astera Labs by 50.5% during the 4th quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company’s stock valued at $312,644,000 after purchasing an additional 792,153 shares in the last quarter. 60.47% of the stock is owned by institutional investors.

Astera Labs Price Performance

Shares of NASDAQ ALAB opened at $90.66 on Thursday. The stock has a market capitalization of $14.95 billion, a P/E ratio of -52.40, a price-to-earnings-growth ratio of 6.18 and a beta of 0.33. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39. The business has a fifty day moving average price of $65.52 and a 200 day moving average price of $91.75.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 earnings per share 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 period in the prior year, the business posted $0.10 EPS. The firm’s quarterly revenue was up 144.1% on a year-over-year basis. As a group, equities research analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Stifel Nicolaus decreased their target price on Astera Labs from $150.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Citigroup decreased their target price on Astera Labs from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Needham & Company LLC decreased their target price on Astera Labs from $140.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Barclays lifted their target price on Astera Labs from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, May 7th. Finally, Craig Hallum lifted their target price on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Thirteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Astera Labs presently has a consensus rating of “Buy” and an average price target of $99.69.

Insider Activity at Astera Labs

In related news, Director Manuel Alba sold 63,000 shares of the company’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 transaction, the director now directly owns 444,863 shares of the company’s stock, valued at $28,190,968.31. This represents a 12.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Philip Mazzara sold 7,536 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total value of $693,839.52. Following the completion of the transaction, the general counsel now directly owns 241,209 shares in the company, valued at $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. Insiders have sold 873,990 shares of company stock valued at $71,404,162 in the last ninety days.

Astera Labs Company 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.