22,055 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D acquired a new position in Astera Labs, Inc. (NASDAQ:ALAB) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 22,055 shares of the company’s stock, valued at approximately $2,921,000.

Several other hedge funds have also recently bought and sold shares of the business. Tidal Investments LLC raised its stake in shares of Astera Labs by 81.8% during the 3rd quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock worth $2,373,000 after purchasing an additional 20,388 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Astera Labs during the 3rd quarter valued at about $530,000. Avior Wealth Management LLC acquired a new position in shares of Astera Labs during the 3rd quarter valued at about $361,000. Maverick Capital Ltd. increased its holdings in shares of Astera Labs by 16.0% during the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock valued at $60,575,000 after acquiring an additional 159,480 shares during the last quarter. Finally, Bank of Hawaii acquired a new position in shares of Astera Labs during the 3rd quarter valued at about $1,409,000. 60.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Astera Labs news, Director Michael E. Hurlston sold 2,500 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total value of $230,200.00. Following the completion of the transaction, the director now directly owns 91,794 shares of the company’s stock, valued at approximately $8,452,391.52. The trade was a 2.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Truett Tate sold 34,474 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total value of $3,174,021.18. Following the completion of the transaction, the chief financial officer now directly owns 244,242 shares of the company’s stock, valued at approximately $22,487,360.94. The trade was a 12.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 532,690 shares of company stock valued at $55,253,691 over the last three months.

Astera Labs Stock Down 1.6 %

Shares of Astera Labs stock opened at $88.43 on Friday. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39. The business has a fifty day simple moving average of $117.65 and a 200 day simple moving average of $84.55. The stock has a market cap of $14.34 billion and a PE ratio of -51.12.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.76% and a negative net margin of 21.05%. Analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ALAB. Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Citigroup assumed coverage on Astera Labs in a research report on Monday, November 18th. They issued a “buy” rating and a $120.00 price objective for the company. Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a research report on Tuesday, January 28th. Craig Hallum lifted their price objective on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Finally, Stifel Nicolaus lifted their price objective on Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Astera Labs currently has an average rating of “Buy” and a consensus target price 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.