US Bancorp DE Has $841,000 Stock Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

US Bancorp DE raised its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 627.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,350 shares of the company’s stock after purchasing an additional 5,477 shares during the quarter. US Bancorp DE’s holdings in Astera Labs were worth $841,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Kestra Investment Management LLC acquired a new stake in Astera Labs during the 4th quarter valued at $28,000. GAMMA Investing LLC lifted its holdings in Astera Labs by 78.3% during the 4th quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock valued at $68,000 after purchasing an additional 224 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Astera Labs by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 4,757 shares of the company’s stock valued at $630,000 after purchasing an additional 237 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in Astera Labs during the 4th quarter valued at $36,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Astera Labs by 5.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company’s stock worth $277,000 after buying an additional 284 shares during the period. Institutional investors and hedge funds own 60.47% of the company’s stock.

Astera Labs Stock Down 7.8 %

NASDAQ ALAB opened at $61.70 on Tuesday. The company has a market cap of $10.00 billion and a price-to-earnings ratio of -35.66. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39. The business has a 50 day moving average price of $102.97 and a 200-day moving average price of $87.93.

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 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%. On average, equities research analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

ALAB has been the topic of several recent research reports. 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. 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. Morgan Stanley lowered their price objective on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Citigroup initiated coverage on Astera Labs in a research report on Monday, November 18th. They set a “buy” rating and a $120.00 price objective on the stock. Finally, Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $115.33.

Insiders Place Their Bets

In related news, General Counsel Philip Mazzara sold 50,000 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $87.46, for a total transaction of $4,373,000.00. Following the sale, the general counsel now directly owns 191,209 shares in the company, valued at approximately $16,723,139.14. The trade was a 20.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jitendra Mohan sold 350,680 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 2,353,655 shares in the company, valued at approximately $210,675,659.05. The trade was a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 570,990 shares of company stock valued at $50,242,702.

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.