Empowered Funds LLC Acquires Shares of 456 Astera Labs, Inc. (NASDAQ:ALAB)

Empowered Funds LLC acquired a new stake in Astera Labs, Inc. (NASDAQ:ALAB) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 456 shares of the company’s stock, valued at approximately $60,000.

Several other large investors have also made changes to their positions in the business. Wilmington Savings Fund Society FSB increased its holdings in Astera Labs by 24,767.5% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 9,947 shares of the company’s stock worth $1,317,000 after acquiring an additional 9,907 shares in the last quarter. Kingsview Wealth Management LLC grew its position in shares of Astera Labs by 20.2% in the fourth quarter. Kingsview Wealth Management LLC now owns 7,490 shares of the company’s stock valued at $992,000 after purchasing an additional 1,260 shares during the period. Sumitomo Mitsui Trust Group Inc. purchased a new stake in shares of Astera Labs during the fourth quarter worth about $1,285,000. Elemental Capital Partners LLC purchased a new stake in shares of Astera Labs during the fourth quarter worth about $1,346,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Astera Labs during the 4th quarter worth about $159,000. 60.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Astera Labs news, Director Stefan A. Dyckerhoff sold 7,814 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $107.17, for a total transaction of $837,426.38. Following the completion of the transaction, the director now owns 121,803 shares of the company’s stock, valued at $13,053,627.51. This trade represents a 6.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jitendra Mohan sold 350,680 shares of the business’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 transaction of $31,389,366.80. Following the completion of the sale, the chief executive officer now directly owns 2,353,655 shares in the company, valued at $210,675,659.05. This trade represents a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 883,370 shares of company stock valued at $86,643,058 over the last quarter.

Astera Labs Trading Down 3.1 %

Astera Labs stock opened at $85.72 on Friday. The company has a 50-day moving average price of $116.72 and a 200 day moving average price of $85.13. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39. The stock has a market cap of $13.90 billion and a P/E ratio of -49.55.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Roth Mkm lifted their price objective on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price target on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Stifel Nicolaus increased their price objective on Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Northland Capmk raised shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Barclays increased their target price on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. One investment 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 MarketBeat, Astera Labs has an average rating of “Buy” and an average price target of $115.33.

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.