HighTower Advisors LLC Makes New Investment in Astera Labs, Inc. (NASDAQ:ALAB)

HighTower Advisors LLC bought a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,195 shares of the company’s stock, valued at approximately $821,000.

A number of other hedge funds also recently made changes to their positions in ALAB. Fred Alger Management LLC boosted its holdings in Astera Labs by 1,361.0% in the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after buying an additional 2,628,765 shares during the period. Jennison Associates LLC bought a new position in shares of Astera Labs in the fourth quarter worth $229,991,000. JPMorgan Chase & Co. grew its position in shares of Astera Labs by 3.1% in the third quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company’s stock valued at $82,164,000 after purchasing an additional 47,569 shares in the last quarter. Maverick Capital Ltd. raised its stake in shares of Astera Labs by 16.0% during the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock valued at $60,575,000 after purchasing an additional 159,480 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in 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 worth $46,054,000 after purchasing an additional 873,412 shares in the last quarter. 60.47% of the stock is currently owned by institutional investors.

Astera Labs Price Performance

Shares of NASDAQ:ALAB opened at $62.79 on Friday. The business’s 50 day moving average price is $86.45 and its 200-day moving average price is $89.68. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39. The firm has a market capitalization of $10.18 billion and a price-to-earnings ratio of -36.29.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data 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 net margin of 21.05% and a negative return on equity of 10.40%. On average, sell-side analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Analysts Set New Price Targets

ALAB has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $140.00 price target on shares of Astera Labs in a research report on Tuesday, February 11th. Morgan Stanley reduced their price objective on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Raymond James started coverage on shares of Astera Labs in a research report on Friday, March 14th. They set an “outperform” rating and a $82.00 price target for the company. Finally, Barclays increased their price objective on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Astera Labs currently has a consensus rating of “Buy” and a consensus target price of $112.77.

Insiders Place Their Bets

In other Astera Labs news, General Counsel Philip Mazzara sold 50,000 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $87.46, for a total transaction of $4,373,000.00. Following the transaction, the general counsel now directly owns 191,209 shares of the company’s stock, valued at approximately $16,723,139.14. This trade represents a 20.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Michael Truett Tate sold 125,800 shares of Astera Labs stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total value of $10,382,274.00. Following the completion of the transaction, the chief financial officer now owns 244,242 shares in the company, valued at $20,157,292.26. This trade represents a 34.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 570,990 shares of company stock worth $50,242,702 in the last ninety days.

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.