Astera Labs, Inc. (NASDAQ:ALAB) Stock Position Lowered by Fmr LLC

Fmr LLC decreased its position in Astera Labs, Inc. (NASDAQ:ALAB) by 0.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,410,774 shares of the company’s stock after selling 93,264 shares during the quarter. Fmr LLC owned about 0.15% of Astera Labs worth $3,100,757,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Astera Labs by 354.9% in the 4th quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company’s stock valued at $1,220,080,000 after acquiring an additional 7,186,582 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Astera Labs by 2,328.5% during the fourth quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company’s stock valued at $519,506,000 after purchasing an additional 3,760,765 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Astera Labs by 50.5% during the fourth quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company’s stock worth $312,644,000 after buying an additional 792,153 shares in the last quarter. Jennison Associates LLC acquired a new position in Astera Labs in the fourth quarter worth approximately $229,991,000. Finally, Massachusetts Financial Services Co. MA grew its position in Astera Labs by 418.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,674,000 shares of the company’s stock worth $221,721,000 after buying an additional 1,351,007 shares during the last quarter. 60.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ALAB. Raymond James started coverage on Astera Labs in a research note on Friday, March 14th. They set an “outperform” rating and a $82.00 price objective for the company. Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a research note on Tuesday, January 28th. Stifel Nicolaus upped their price objective on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Craig Hallum raised their target price 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. Finally, Morgan Stanley cut their price target on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $112.77.

Insiders Place Their Bets

In related news, Director Michael E. Hurlston sold 2,500 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total value of $230,200.00. Following the completion of the transaction, the director now directly owns 91,794 shares in the company, valued at approximately $8,452,391.52. This represents a 2.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Philip Mazzara sold 50,000 shares of Astera Labs stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $87.46, for a total transaction of $4,373,000.00. Following the sale, the general counsel now owns 191,209 shares in the company, valued at $16,723,139.14. This represents a 20.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 633,990 shares of company stock worth $54,235,012 in the last ninety days.

Astera Labs Stock Performance

ALAB opened at $52.94 on Friday. The stock has a 50-day moving average of $78.49 and a 200-day moving average of $90.74. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39. The company has a market cap of $8.58 billion and a PE ratio of -30.60.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share 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%. On average, research analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

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.