Astera Labs, Inc. (NASDAQ:ALAB) Shares Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. reduced its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 31.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,184 shares of the company’s stock after selling 32,530 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Astera Labs were worth $9,295,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Astera Labs by 354.9% in the fourth quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company’s stock valued at $1,220,080,000 after buying an additional 7,186,582 shares in the last quarter. Alliancebernstein L.P. raised its position in Astera Labs by 2,328.5% during the fourth quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company’s stock worth $519,506,000 after acquiring an additional 3,760,765 shares during the period. JPMorgan Chase & Co. lifted its holdings in Astera Labs by 50.5% during the fourth quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company’s stock valued at $312,644,000 after purchasing an additional 792,153 shares in the last quarter. Jennison Associates LLC acquired a new stake in shares of Astera Labs in the fourth quarter valued at about $229,991,000. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Astera Labs by 418.3% during 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 in the last quarter. Institutional investors and hedge funds own 60.47% of the company’s stock.

Astera Labs Stock Down 7.7 %

ALAB stock opened at $54.42 on Tuesday. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39. The stock has a market cap of $8.82 billion and a price-to-earnings ratio of -31.46. The business has a fifty day moving average of $68.57 and a two-hundred day moving average of $91.44.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data 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%. As a group, sell-side analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current year.

Insider Activity

In related news, CFO Michael Truett Tate sold 34,474 shares of the business’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 $3,174,021.18. Following the sale, the chief financial officer now owns 244,242 shares in the company, valued at approximately $22,487,360.94. The trade was a 12.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Philip Mazzara sold 50,000 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $87.46, for a total value of $4,373,000.00. Following the transaction, the general counsel now directly owns 191,209 shares in the company, valued at approximately $16,723,139.14. The trade was a 20.73 % decrease in their position. The disclosure for this sale can be found here. In 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 commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $140.00 price objective on shares of Astera Labs in a research note on Tuesday, February 11th. Citigroup decreased their price objective on Astera Labs from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Craig Hallum upped their target price on shares of Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. 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, Barclays upped their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Astera Labs currently has a consensus rating of “Buy” and an average target price of $109.25.

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.