State Board of Administration of Florida Retirement System Increases Holdings in Astera Labs, Inc. $ALAB

State Board of Administration of Florida Retirement System increased its position in Astera Labs, Inc. (NASDAQ:ALAB) by 19.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,244 shares of the company’s stock after buying an additional 18,814 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.07% of Astera Labs worth $10,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of ALAB. Oliver Lagore Vanvalin Investment Group bought a new position in Astera Labs during the second quarter valued at approximately $29,000. Bernard Wealth Management Corp. bought a new position in shares of Astera Labs during the 2nd quarter valued at $36,000. Clearstead Trust LLC raised its position in Astera Labs by 46,100.0% in the 2nd quarter. Clearstead Trust LLC now owns 462 shares of the company’s stock worth $42,000 after purchasing an additional 461 shares during the period. Advisors Asset Management Inc. lifted its stake in Astera Labs by 68.6% in the second quarter. Advisors Asset Management Inc. now owns 477 shares of the company’s stock worth $43,000 after purchasing an additional 194 shares during the last quarter. Finally, Manchester Capital Management LLC lifted its stake in Astera Labs by 141.5% in the second quarter. Manchester Capital Management LLC now owns 483 shares of the company’s stock worth $44,000 after purchasing an additional 283 shares during the last quarter. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Insiders Place Their Bets

In other Astera Labs news, CFO Michael Truett Tate sold 11,430 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $144.69, for a total transaction of $1,653,806.70. Following the transaction, the chief financial officer directly owned 192,297 shares of the company’s stock, valued at approximately $27,823,452.93. The trade was a 5.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jitendra Mohan sold 90,459 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $144.69, for a total transaction of $13,088,512.71. Following the transaction, the chief executive officer owned 2,080,418 shares in the company, valued at $301,015,680.42. This represents a 4.17% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 403,936 shares of company stock worth $58,920,200. Insiders own 12.50% of the company’s stock.

Astera Labs Stock Performance

NASDAQ ALAB opened at $142.94 on Wednesday. The stock has a market cap of $24.14 billion, a P/E ratio of 128.77, a price-to-earnings-growth ratio of 3.08 and a beta of 1.51. Astera Labs, Inc. has a fifty-two week low of $47.13 and a fifty-two week high of $262.90. The stock has a 50 day simple moving average of $172.77 and a two-hundred day simple moving average of $150.19.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ALAB shares. Needham & Company LLC raised their price objective on Astera Labs from $205.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Zacks Research lowered Astera Labs from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 6th. Morgan Stanley reiterated an “overweight” rating and issued a $210.00 price objective on shares of Astera Labs in a research report on Wednesday. Northland Securities set a $175.00 price objective on Astera Labs in a research note on Monday, November 17th. Finally, Northland Capmk raised shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $187.06.

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.