Astera Labs, Inc. (NASDAQ:ALAB) Shares Purchased by Legato Capital Management LLC

Legato Capital Management LLC grew its position in Astera Labs, Inc. (NASDAQ:ALAB) by 68.2% during the 4th quarter, Holdings Channel reports. The fund owned 25,612 shares of the company’s stock after buying an additional 10,386 shares during the quarter. Legato Capital Management LLC’s holdings in Astera Labs were worth $3,392,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Peterson Wealth Services purchased a new stake in Astera Labs in the 4th quarter valued at approximately $1,208,000. Essex Financial Services Inc. lifted its holdings in shares of Astera Labs by 1.9% in the 4th quarter. Essex Financial Services Inc. now owns 24,939 shares of the company’s stock valued at $3,303,000 after buying an additional 468 shares during the period. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Astera Labs in the fourth quarter valued at approximately $250,000. Entropy Technologies LP acquired a new position in Astera Labs during the fourth quarter worth $1,742,000. Finally, Empowered Funds LLC purchased a new position in Astera Labs in the fourth quarter worth $60,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Astera Labs Stock Performance

Shares of NASDAQ ALAB opened at $92.04 on Wednesday. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39. The firm’s 50 day moving average price is $121.90 and its 200 day moving average price is $82.86.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data 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 15.57% and a negative net margin of 30.69%. On average, equities research analysts forecast that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Manuel Alba sold 11,000 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $117.50, for a total transaction of $1,292,500.00. Following the completion of the sale, the director now owns 456,863 shares in the company, valued at approximately $53,681,402.50. The trade was a 2.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jitendra Mohan sold 171,064 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $103.53, for a total transaction of $17,710,255.92. Following the completion of the transaction, the chief executive officer now owns 628,895 shares in the company, valued at $65,109,499.35. The trade was a 21.38 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 846,452 shares of company stock valued at $86,427,256.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ALAB. Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Barclays boosted their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Roth Mkm boosted their price target on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. raised their price objective on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Astera Labs presently has an average rating of “Buy” and an average price target of $115.33.

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.