JPMorgan Chase & Co. Has $82.16 Million Stake in Astera Labs, Inc. (NASDAQ:ALAB)

JPMorgan Chase & Co. raised its position in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 3.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,568,314 shares of the company’s stock after purchasing an additional 47,569 shares during the quarter. JPMorgan Chase & Co. owned 0.99% of Astera Labs worth $82,164,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Fred Alger Management LLC boosted its holdings 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 during the period. Westfield Capital Management Co. LP purchased a new stake in Astera Labs in the 3rd quarter worth approximately $52,049,000. The Manufacturers Life Insurance Company boosted its stake in shares of Astera Labs by 15,477.8% during the 3rd 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 period. Spyglass Capital Management LLC purchased a new position in shares of Astera Labs during the 3rd quarter valued at $38,565,000. Finally, State Street Corp increased its stake in shares of Astera Labs by 173.1% in the third quarter. State Street Corp now owns 698,467 shares of the company’s stock worth $36,593,000 after acquiring an additional 442,698 shares during the last quarter. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on ALAB shares. Needham & Company LLC restated a “buy” rating and issued a $65.00 target price on shares of Astera Labs in a research note on Wednesday, October 9th. Stifel Nicolaus boosted their price target on Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Barclays raised their price objective on shares of Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Northland Securities downgraded shares of Astera Labs from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $100.00 to $120.00 in a research report on Thursday. Finally, JPMorgan Chase & Co. raised their price target on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Astera Labs currently has an average rating of “Moderate Buy” and an average price target of $101.58.

Astera Labs Stock Up 1.6 %

Shares of NASDAQ:ALAB opened at $134.63 on Friday. The stock’s 50-day moving average is $108.26 and its 200-day moving average is $71.06. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.36.

Astera Labs (NASDAQ:ALAB) last released its earnings results on Monday, November 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The firm had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. The business’s revenue for the quarter was up 47.1% compared to the same quarter last year. On average, analysts expect that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel Philip Mazzara sold 25,000 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $60.74, for a total transaction of $1,518,500.00. Following the transaction, the general counsel now directly owns 300,564 shares in the company, valued at $18,256,257.36. The trade was a 7.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Michael Truett Tate sold 16,000 shares of the firm’s stock in a transaction that occurred on 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 $166,494,721.92. This represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,978,119 shares of company stock valued at $186,618,509.

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.