Bessemer Group Inc. Acquires New Shares in Astera Labs, Inc. (NASDAQ:ALAB)

Bessemer Group Inc. bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,000 shares of the company’s stock, valued at approximately $132,000.

Several other institutional investors also recently bought and sold shares of the stock. Tidal Investments LLC increased its holdings in shares of Astera Labs by 81.8% during the 3rd quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock valued at $2,373,000 after acquiring an additional 20,388 shares during the last quarter. Proficio Capital Partners LLC lifted its stake in shares of Astera Labs by 1.8% in the fourth quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company’s stock worth $2,864,000 after buying an additional 390 shares during the last quarter. State Street Corp lifted its stake in shares of Astera Labs by 173.1% in the third quarter. State Street Corp now owns 698,467 shares of the company’s stock worth $36,593,000 after buying an additional 442,698 shares during the last quarter. Peregrine Investment Management Inc. bought a new stake in shares of Astera Labs during the 4th quarter worth $10,701,000. Finally, Elemental Capital Partners LLC acquired a new position in Astera Labs in the 4th quarter valued at $1,346,000. 60.47% of the stock is currently owned by institutional investors.

Astera Labs Stock Down 2.2 %

ALAB stock opened at $58.78 on Thursday. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39. The business’s fifty day moving average is $70.78 and its 200-day moving average is $90.74. The company has a market cap of $9.53 billion and a P/E ratio of -33.98.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Monday, February 10th. The company reported $0.10 earnings per share (EPS) 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%. Research analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, Director Manuel Alba sold 63,000 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total value of $3,992,310.00. Following the completion of the sale, the director now directly owns 444,863 shares in the company, valued at $28,190,968.31. This represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Philip Mazzara sold 7,536 shares of Astera Labs stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total value of $693,839.52. Following the transaction, the general counsel now owns 241,209 shares in the company, 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 633,990 shares of company stock valued at $54,235,012.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ALAB. Craig Hallum raised their price target on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Morgan Stanley reduced their target price on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Stifel Nicolaus lifted their price target on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Barclays upped their price objective on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Finally, Raymond James assumed coverage on shares of Astera Labs in a report on Friday, March 14th. They issued an “outperform” rating and a $82.00 target price on the stock. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $113.42.

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.