Zurcher Kantonalbank Zurich Cantonalbank Purchases New Stake in Astera Labs, Inc. (NASDAQ:ALAB)

Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,416 shares of the company’s stock, valued at approximately $1,380,000.

Other institutional investors also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC grew its position in Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock valued at $26,000 after buying an additional 99 shares during the period. Kestra Investment Management LLC bought a new position in Astera Labs during the fourth quarter worth about $28,000. Geneos Wealth Management Inc. bought a new position in Astera Labs during the fourth quarter worth about $36,000. Global Retirement Partners LLC boosted its position in Astera Labs by 3,155.6% during the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock worth $39,000 after purchasing an additional 284 shares during the period. Finally, ORG Wealth Partners LLC bought a new position in Astera Labs during the fourth quarter worth about $42,000. Institutional investors own 60.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ALAB. Morgan Stanley cut their target price on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Needham & Company LLC reiterated a “buy” rating and set a $140.00 target price on shares of Astera Labs in a research report on Tuesday, February 11th. Barclays increased their target price on shares of Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Northland Securities raised shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Astera Labs currently has a consensus rating of “Buy” and a consensus price target of $112.77.

Insider Activity at Astera Labs

In other Astera Labs news, General Counsel Philip Mazzara sold 7,536 shares of Astera Labs stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total transaction of $693,839.52. Following the transaction, the general counsel now directly owns 241,209 shares of the company’s stock, valued at approximately $22,208,112.63. This trade represents a 3.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael E. Hurlston sold 2,500 shares of Astera Labs stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total transaction of $230,200.00. Following the transaction, the director now directly owns 91,794 shares in the company, valued at $8,452,391.52. This trade represents a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 570,990 shares of company stock valued at $50,242,702 over the last three months.

Astera Labs Price Performance

Shares of ALAB opened at $68.89 on Wednesday. The firm’s 50 day simple moving average is $94.89 and its 200 day simple moving average is $88.98. The company has a market capitalization of $11.17 billion and a P/E ratio of -39.82. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates 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, equities analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

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.