HighTower Advisors LLC Invests $821,000 in Astera Labs, Inc. (NASDAQ:ALAB)

HighTower Advisors LLC bought a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 6,195 shares of the company’s stock, valued at approximately $821,000.

Several other hedge funds also recently added to or reduced their stakes in ALAB. Fred Alger Management LLC raised its stake in shares of Astera Labs by 1,361.0% during the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock valued at $147,840,000 after purchasing an additional 2,628,765 shares during the period. Jennison Associates LLC purchased a new position in shares of Astera Labs in the fourth quarter valued at $229,991,000. JPMorgan Chase & Co. grew its holdings in Astera Labs by 3.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company’s stock valued at $82,164,000 after purchasing an additional 47,569 shares in the last quarter. Maverick Capital Ltd. increased its stake in Astera Labs by 16.0% during the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock worth $60,575,000 after buying an additional 159,480 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Astera Labs by 15,477.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock worth $46,054,000 after buying an additional 873,412 shares during the period. 60.47% of the stock is owned by hedge funds and other institutional investors.

Astera Labs Stock Down 6.2 %

ALAB stock opened at $62.79 on Friday. The business has a 50-day simple moving average of $86.45 and a 200 day simple moving average of $89.68. The company has a market cap of $10.18 billion and a PE ratio of -36.29. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data 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 return on equity of 10.40% and a negative net margin of 21.05%. On average, analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Stifel Nicolaus raised their price target on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Northland Securities raised shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a report on Tuesday, January 28th. Northland Capmk raised shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Barclays increased their price target 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. Finally, Needham & Company LLC reissued a “buy” rating and issued a $140.00 price objective on shares of Astera Labs in a report on Tuesday, February 11th. One 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $112.77.

Insider Buying and Selling

In other Astera Labs news, CFO Michael Truett Tate sold 125,800 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total value of $10,382,274.00. Following the completion of the transaction, the chief financial officer now owns 244,242 shares of the company’s stock, valued at $20,157,292.26. The trade was a 34.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Philip Mazzara sold 50,000 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $87.46, for a total value of $4,373,000.00. Following the sale, the general counsel now owns 191,209 shares of the company’s stock, valued at $16,723,139.14. This represents a 20.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 570,990 shares of company stock valued at $50,242,702.

Astera Labs Company 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.