ING Groep NV Takes Position in Astera Labs, Inc. (NASDAQ:ALAB)

ING Groep NV acquired a new stake in Astera Labs, Inc. (NASDAQ:ALAB) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 281,100 shares of the company’s stock, valued at approximately $37,232,000.

Several other hedge funds also recently modified their holdings of ALAB. Fred Alger Management LLC boosted its position in shares of Astera Labs by 1,361.0% in the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock valued at $147,840,000 after acquiring an additional 2,628,765 shares during the period. Jennison Associates LLC bought a new stake in shares of Astera Labs in the fourth quarter valued at approximately $229,991,000. Westfield Capital Management Co. LP bought a new stake in shares of Astera Labs in the third quarter valued at approximately $52,049,000. The Manufacturers Life Insurance Company boosted its position in shares of Astera Labs by 15,477.8% in the third quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock valued at $46,054,000 after acquiring an additional 873,412 shares during the period. Finally, Spyglass Capital Management LLC bought a new stake in shares of Astera Labs in the third quarter valued at approximately $38,565,000. 60.47% of the stock is owned by institutional investors.

Astera Labs Price Performance

Astera Labs stock opened at $89.90 on Thursday. The stock has a fifty day moving average price of $118.33 and a two-hundred day moving average price of $84.52. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39. The firm has a market capitalization of $14.26 billion and a P/E ratio of -51.97.

Astera Labs (NASDAQ:ALAB) last released its quarterly 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 net margin of 21.05% and a negative return on equity of 10.76%. On average, equities research analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ALAB shares. Stifel Nicolaus upped their target price on Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Roth Mkm upped their target price on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Morgan Stanley cut their target price on 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. Finally, JPMorgan Chase & Co. upped their target price 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 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $115.33.

Insider Activity at Astera Labs

In related news, Director Stefan A. Dyckerhoff sold 7,814 shares of Astera Labs stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $107.17, for a total value of $837,426.38. Following the completion of the sale, the director now directly owns 121,803 shares in the company, valued at $13,053,627.51. This trade represents a 6.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Truett Tate sold 16,000 shares of Astera Labs stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $117.84, for a total value of $1,885,440.00. Following the completion of the sale, the chief financial officer now owns 1,412,888 shares of the company’s stock, valued at approximately $166,494,721.92. The trade was a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 468,180 shares of company stock valued at $49,959,630 over the last ninety days.

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.