Landscape Capital Management L.L.C. Buys New Shares in Astera Labs, Inc. (NASDAQ:ALAB)

Landscape Capital Management L.L.C. purchased a new position in Astera Labs, Inc. (NASDAQ:ALAB) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,189 shares of the company’s stock, valued at approximately $555,000.

Several other institutional investors have also added to or reduced their stakes in ALAB. Vanguard Group Inc. lifted its stake in shares of 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. increased its stake in Astera Labs by 2,328.5% in the 4th quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company’s stock worth $519,506,000 after purchasing an additional 3,760,765 shares during the period. Jennison Associates LLC bought a new stake in Astera Labs in the fourth quarter valued at approximately $229,991,000. Norges Bank purchased a new stake in shares of Astera Labs during the fourth quarter valued at approximately $179,229,000. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of 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 purchasing an additional 1,351,007 shares during the last quarter. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Astera Labs Price Performance

Shares of Astera Labs stock opened at $52.94 on Monday. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39. The company has a 50-day moving average of $78.49 and a 200 day moving average of $91.05. The firm has a market cap of $8.58 billion and a price-to-earnings ratio of -30.60.

Astera Labs (NASDAQ:ALAB) last released its earnings results on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. On average, equities analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current year.

Insider Transactions at Astera Labs

In related news, Director Manuel Alba sold 63,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the director now owns 444,863 shares of the company’s stock, valued at $28,190,968.31. This trade 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 at the SEC website. Also, CFO Michael Truett Tate sold 125,800 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $82.53, for a total transaction of $10,382,274.00. Following the completion of the transaction, the chief financial officer now owns 244,242 shares of the company’s stock, valued at approximately $20,157,292.26. The trade was a 34.00 % 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 valued at $54,235,012.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Northland Securities raised shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a research report on Tuesday, January 28th. Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Morgan Stanley reduced their price target on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Needham & Company LLC reiterated a “buy” rating and issued a $140.00 price objective on shares of Astera Labs in a report on Tuesday, February 11th. Finally, Craig Hallum boosted their target price on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $112.77.

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.