1,594 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Bought by Pinebridge Investments L.P.

Pinebridge Investments L.P. bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,594 shares of the company’s stock, valued at approximately $211,000.

Several other institutional investors have also recently made changes to their positions in the business. Steward Partners Investment Advisory LLC raised its holdings in shares of Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after purchasing an additional 99 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Astera Labs during the fourth quarter worth $25,000. Kestra Investment Management LLC purchased a new position in shares of Astera Labs during the fourth quarter worth $28,000. GAMMA Investing LLC increased its holdings in Astera Labs by 78.3% in the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock valued at $68,000 after buying an additional 224 shares in the last quarter. Finally, CIBC Asset Management Inc increased its holdings in Astera Labs by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 4,757 shares of the company’s stock valued at $630,000 after buying an additional 237 shares in the last quarter. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Astera Labs Stock Down 0.0 %

Shares of NASDAQ ALAB opened at $66.08 on Tuesday. The company’s 50-day simple moving average is $65.88 and its 200-day simple moving average is $91.52. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39. The firm has a market cap of $10.72 billion and a price-to-earnings ratio of -38.20.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates 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%. Equities research analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Manuel Alba sold 63,000 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were 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 in the company, valued at approximately $28,190,968.31. The trade was a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Philip Mazzara sold 50,000 shares of Astera Labs stock in a transaction dated 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 transaction, the general counsel now directly owns 191,209 shares in the company, valued at $16,723,139.14. This trade represents a 20.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 633,990 shares of company stock worth $54,235,012.

Wall Street Analysts Forecast Growth

ALAB has been the subject of a number of recent analyst reports. Morgan Stanley cut their price objective on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Raymond James initiated coverage on shares of Astera Labs in a report on Friday, March 14th. They issued an “outperform” rating and a $82.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Astera Labs in a report on Tuesday, February 11th. Barclays lifted their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Finally, Stifel Nicolaus cut their price objective on shares of Astera Labs from $150.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, April 17th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $109.25.

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.