Astera Labs, Inc. (NASDAQ:ALAB) Shares Bought by National Bank of Canada FI

National Bank of Canada FI grew its stake in Astera Labs, Inc. (NASDAQ:ALAB) by 121.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 541 shares of the company’s stock after purchasing an additional 297 shares during the quarter. National Bank of Canada FI’s holdings in Astera Labs were worth $72,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Franklin Resources Inc. purchased a new position in Astera Labs in the 4th quarter valued at about $12,581,000. Alliancebernstein L.P. raised its holdings in shares of Astera Labs by 2,328.5% during the fourth quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company’s stock valued at $519,506,000 after acquiring an additional 3,760,765 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of Astera Labs by 44.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,650 shares of the company’s stock valued at $477,000 after acquiring an additional 1,125 shares in the last quarter. Schroder Investment Management Group acquired a new stake in shares of Astera Labs in the fourth quarter worth approximately $437,000. Finally, Pictet Asset Management Holding SA purchased a new stake in shares of Astera Labs during the fourth quarter worth approximately $782,000. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Astera Labs Stock Up 2.2 %

Shares of Astera Labs stock opened at $60.13 on Friday. The firm has a market cap of $9.75 billion and a PE ratio of -34.76. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39. The business’s fifty day simple moving average is $73.46 and its 200-day simple moving average is $90.89.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Monday, February 10th. The company reported $0.10 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 10.40%. As a group, equities analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Stifel Nicolaus raised their price objective on Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a report on Monday, January 6th. Northland Securities upgraded shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a research report on Tuesday, January 28th. Barclays increased 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. Northland Capmk raised shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Craig Hallum upped 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. One investment 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $112.77.

Insider Transactions at Astera Labs

In other Astera Labs news, CEO Jitendra Mohan sold 350,680 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total value of $31,389,366.80. Following the sale, the chief executive officer now owns 2,353,655 shares of the company’s stock, valued at $210,675,659.05. The trade was a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Philip Mazzara sold 7,536 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was 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 of the company’s stock, valued at approximately $22,208,112.63. This represents a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 633,990 shares of company stock worth $54,235,012.

About Astera Labs

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.