Shell Asset Management Co. Takes Position in Astera Labs, Inc. (NASDAQ:ALAB)

Shell Asset Management Co. acquired a new position in Astera Labs, Inc. (NASDAQ:ALAB) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,013 shares of the company’s stock, valued at approximately $267,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALAB. Park Avenue Securities LLC acquired a new position in shares of Astera Labs in the fourth quarter worth approximately $500,000. Oak Ridge Investments LLC acquired a new position in shares of Astera Labs in the fourth quarter worth approximately $284,000. Mandatum Life Insurance Co Ltd acquired a new position in shares of Astera Labs in the fourth quarter worth approximately $462,000. Trueblood Wealth Management LLC acquired a new position in shares of Astera Labs in the fourth quarter worth approximately $331,000. Finally, Dakota Wealth Management lifted its stake in shares of Astera Labs by 2.5% in the fourth quarter. Dakota Wealth Management now owns 43,110 shares of the company’s stock worth $5,710,000 after acquiring an additional 1,049 shares during the period. 60.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Jitendra Mohan sold 350,680 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 2,353,655 shares in the company, valued at approximately $210,675,659.05. This represents a 12.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Philip Mazzara sold 7,536 shares of the company’s 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 $22,208,112.63. This trade represents a 3.03% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 948,990 shares of company stock worth $78,221,662.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Raymond James assumed coverage on Astera Labs in a research note on Friday, March 14th. They issued an “outperform” rating and a $82.00 price objective on the stock. Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a report on Tuesday, January 28th. Needham & Company LLC lowered their target price on Astera Labs from $140.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Morgan Stanley upgraded Astera Labs from an “equal weight” rating to an “overweight” rating and set a $99.00 target price for the company in a report on Monday, May 12th. Finally, Susquehanna started coverage on Astera Labs in a report on Friday. They issued a “neutral” rating and a $80.00 target price for the company. One research analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $98.29.

Astera Labs Stock Down 1.8%

NASDAQ ALAB opened at $90.56 on Monday. The company has a market cap of $14.93 billion, a price-to-earnings ratio of -52.35, a P/E/G ratio of 6.18 and a beta of 0.33. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39. The business has a 50 day moving average price of $66.62 and a 200-day moving average price of $92.28.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. The firm had revenue of $159.44 million during the quarter, compared to the consensus estimate of $151.55 million. Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. The company’s quarterly revenue was up 144.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.10 earnings per share. On average, equities research analysts anticipate 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.