Sumitomo Mitsui Trust Group Inc. Invests $1.29 Million in Astera Labs, Inc. (NASDAQ:ALAB)

Sumitomo Mitsui Trust Group Inc. purchased a new position in Astera Labs, Inc. (NASDAQ:ALAB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 9,699 shares of the company’s stock, valued at approximately $1,285,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALAB. Geneos Wealth Management Inc. purchased a new position in shares of Astera Labs in the 4th quarter worth about $36,000. ORG Wealth Partners LLC purchased a new position in shares of Astera Labs in the 4th quarter worth about $42,000. Hollencrest Capital Management purchased a new stake in Astera Labs during the third quarter valued at about $26,000. GAMMA Investing LLC lifted its holdings in Astera Labs by 78.3% during the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock valued at $68,000 after purchasing an additional 224 shares during the last quarter. Finally, Berbice Capital Management LLC purchased a new stake in Astera Labs during the fourth quarter valued at about $86,000. Institutional investors and hedge funds own 60.47% of the company’s stock.

Insider Activity at Astera Labs

In other Astera Labs news, Director Stefan A. Dyckerhoff sold 197,297 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $90.51, for a total value of $17,857,351.47. Following the completion of the sale, the director now owns 6,148 shares of the company’s stock, valued at approximately $556,455.48. This trade represents a 96.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Philip Mazzara sold 2,513 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $90.81, for a total value of $228,205.53. Following the completion of the sale, the general counsel now directly owns 248,745 shares of the company’s stock, valued at approximately $22,588,533.45. This represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 846,452 shares of company stock valued at $86,427,256 over the last quarter.

Analyst Ratings Changes

Several research firms have commented on ALAB. Morgan Stanley dropped their price objective on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Roth Mkm upped their price objective on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. upped their price target on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Northland Securities upgraded 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. Finally, Stifel Nicolaus upped their price target on Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $115.33.

Astera Labs Stock Down 0.4 %

ALAB stock opened at $87.85 on Friday. The business’s fifty day simple moving average is $120.82 and its two-hundred day simple moving average is $82.93. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39. The firm has a market cap of $13.93 billion and a price-to-earnings ratio of -50.78.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results 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 15.57% and a negative net margin of 30.69%. Research analysts expect that Astera Labs, Inc. will post -0.45 EPS for the current year.

Astera Labs 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.