Astera Labs, Inc. (NASDAQ:ALAB) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. raised its position in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 13.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,216 shares of the company’s stock after acquiring an additional 1,826 shares during the quarter. Victory Capital Management Inc.’s holdings in Astera Labs were worth $2,015,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ALAB. FMR LLC grew its position in Astera Labs by 0.7% in the third quarter. FMR LLC now owns 23,504,038 shares of the company’s stock worth $1,231,377,000 after acquiring an additional 153,491 shares during the period. Fred Alger Management LLC grew its position in Astera Labs by 1,361.0% in the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after acquiring an additional 2,628,765 shares during the period. Jennison Associates LLC purchased a new position in Astera Labs in the fourth quarter worth approximately $229,991,000. JPMorgan Chase & Co. grew its position in Astera Labs by 3.1% in the third quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company’s stock worth $82,164,000 after acquiring an additional 47,569 shares during the period. Finally, Maverick Capital Ltd. boosted its position in shares of Astera Labs by 16.0% during the third quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock worth $60,575,000 after buying an additional 159,480 shares during the period. Institutional investors and hedge funds own 60.47% of the company’s stock.

Astera Labs Stock Performance

ALAB opened at $72.05 on Tuesday. The business’s 50-day simple moving average is $96.18 and its 200-day simple moving average is $88.79. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39. The stock has a market capitalization of $11.68 billion and a P/E ratio of -41.65.

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

Insider Transactions at Astera Labs

In related news, CEO Jitendra Mohan sold 350,680 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the transaction, the chief executive officer now owns 2,353,655 shares of the company’s stock, valued at $210,675,659.05. This trade represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Michael Truett Tate sold 125,800 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $82.53, for a total value of $10,382,274.00. Following the transaction, the chief financial officer now directly owns 244,242 shares in the company, valued at approximately $20,157,292.26. This represents a 34.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 570,990 shares of company stock worth $50,242,702.

Analysts Set New Price Targets

ALAB has been the subject of several research analyst reports. Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a research report on Tuesday, January 28th. Morgan Stanley lowered their price target on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Barclays raised their price target on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Raymond James started coverage on Astera Labs in a research report on Friday. They set an “outperform” rating and a $82.00 price target for the company. Finally, Craig Hallum increased their price objective on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $112.77.

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.