Mirae Asset Global Investments Co. Ltd. Invests $159,000 in Astera Labs, Inc. (NASDAQ:ALAB)

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,122 shares of the company’s stock, valued at approximately $159,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hollencrest Capital Management bought a new stake in shares of Astera Labs in the third quarter valued at about $26,000. Geneos Wealth Management Inc. bought a new stake in shares of Astera Labs in the fourth quarter valued at about $36,000. ORG Wealth Partners LLC bought a new stake in shares of Astera Labs in the fourth quarter valued at about $42,000. US Bancorp DE bought a new stake in shares of Astera Labs in the third quarter valued at about $46,000. Finally, First Horizon Advisors Inc. bought a new stake in shares of Astera Labs in the third quarter valued at about $49,000. 60.47% of the stock is currently owned by institutional investors.

Astera Labs Trading Up 0.8 %

Shares of NASDAQ ALAB opened at $88.19 on Friday. The business’s 50 day moving average price is $121.35 and its 200 day moving average price is $82.90. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced 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 net margin of 30.69% and a negative return on equity of 15.57%. On average, sell-side analysts expect that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

Insider Buying and Selling at Astera Labs

In other news, General Counsel Philip Mazzara sold 2,513 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $90.81, for a total transaction of $228,205.53. Following the completion of the transaction, the general counsel now directly owns 248,745 shares of the company’s stock, valued at $22,588,533.45. This represents a 1.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Michael Truett Tate sold 16,000 shares of the company’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 transaction, the chief financial officer now directly owns 1,412,888 shares of the company’s stock, valued at approximately $166,494,721.92. The trade was a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 846,452 shares of company stock valued at $86,427,256.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ALAB shares. Roth Mkm lifted their price objective on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft lifted their target price on Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Citigroup started coverage on Astera Labs in a research note on Monday, November 18th. They set a “buy” rating and a $120.00 price target on the stock. Finally, Barclays boosted their price target on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. One 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. According to data from MarketBeat, Astera Labs currently has an average rating of “Buy” and an average price target of $115.33.

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.