Rhumbline Advisers Raises Stake in Astera Labs, Inc. (NASDAQ:ALAB)

Rhumbline Advisers increased its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 371.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 99,949 shares of the company’s stock after purchasing an additional 78,746 shares during the period. Rhumbline Advisers owned 0.06% of Astera Labs worth $13,238,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. purchased a new stake in Astera Labs during the 4th quarter worth about $36,000. ORG Wealth Partners LLC bought a new position in Astera Labs in the 4th quarter worth about $42,000. Empowered Funds LLC bought a new position in Astera Labs in the 4th quarter worth about $60,000. Hollencrest Capital Management bought a new position in Astera Labs in the 3rd quarter worth about $26,000. Finally, GAMMA Investing LLC increased its stake in Astera Labs by 78.3% in the 4th quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock worth $68,000 after acquiring an additional 224 shares during the last quarter. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Wall Street Analyst Weigh In

ALAB has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft increased their price objective on Astera Labs from $60.00 to $100.00 and gave the company a “buy” 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 objective on the stock in a research report on Tuesday, January 28th. Roth Mkm increased their price objective on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. increased their price objective on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $140.00 price objective on shares of Astera Labs in a research report on Tuesday, February 11th. 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $115.33.

Astera Labs Stock Performance

NASDAQ ALAB opened at $85.72 on Friday. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The stock has a 50 day simple moving average of $116.72 and a two-hundred day simple moving average of $85.13. The stock has a market cap of $13.90 billion and a P/E ratio of -49.55.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share 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%. Sell-side analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Michael Truett Tate sold 167,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $102.94, for a total value of $17,190,980.00. Following the completion of the transaction, the chief financial officer now owns 1,595,888 shares in the company, valued at $164,280,710.72. This trade represents a 9.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jitendra Mohan sold 350,680 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total value of $31,389,366.80. Following the completion of the transaction, the chief executive officer now owns 2,353,655 shares of the company’s stock, valued at approximately $210,675,659.05. The trade was a 12.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 883,370 shares of company stock worth $86,643,058.

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.