Verdence Capital Advisors LLC Buys New Shares in Astera Labs, Inc. (NASDAQ:ALAB)

Verdence Capital Advisors LLC purchased a new position in Astera Labs, Inc. (NASDAQ:ALAB) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,304 shares of the company’s stock, valued at approximately $305,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Fred Alger Management LLC grew its position in shares of Astera Labs by 1,361.0% during the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after purchasing an additional 2,628,765 shares in the last quarter. Jennison Associates LLC bought a new position in Astera Labs in the 4th quarter worth approximately $229,991,000. Westfield Capital Management Co. LP purchased a new stake in Astera Labs during the 3rd quarter valued at approximately $52,049,000. The Manufacturers Life Insurance Company raised its position in shares of Astera Labs by 15,477.8% during the third quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock valued at $46,054,000 after buying an additional 873,412 shares during the last quarter. Finally, Spyglass Capital Management LLC purchased a new position in shares of Astera Labs in the third quarter worth $38,565,000. 60.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ALAB has been the subject of several research analyst reports. Stifel Nicolaus raised their target price on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Needham & Company LLC restated a “buy” rating and set a $140.00 price objective on shares of Astera Labs in a research report on Tuesday, February 11th. Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a report on Tuesday, January 28th. Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Craig Hallum lifted their price objective on Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $115.33.

Insiders Place Their Bets

In other news, Director Michael E. Hurlston sold 2,500 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total value of $230,200.00. Following the sale, the director now directly owns 91,794 shares in the company, valued at approximately $8,452,391.52. This represents a 2.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Philip Mazzara sold 7,536 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $22,208,112.63. The trade was a 3.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 570,990 shares of company stock valued at $50,242,702 over the last 90 days.

Astera Labs Stock Performance

NASDAQ:ALAB opened at $66.92 on Friday. The stock’s fifty day moving average is $104.47 and its 200 day moving average is $87.11. The firm has a market capitalization of $10.85 billion and a PE ratio of -38.68. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39.

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 return on equity of 10.40% and a negative net margin of 21.05%. Equities analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current year.

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.