Schroder Investment Management Group Purchases Shares of 3,200 Astera Labs, Inc. (NASDAQ:ALAB)

Schroder Investment Management Group acquired a new stake in Astera Labs, Inc. (NASDAQ:ALAB) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,200 shares of the company’s stock, valued at approximately $437,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ALAB. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Astera Labs during the 4th quarter worth about $25,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after acquiring an additional 99 shares during the period. Kestra Investment Management LLC acquired a new position in shares of Astera Labs in the fourth quarter valued at approximately $28,000. Geneos Wealth Management Inc. bought a new position in shares of Astera Labs during the fourth quarter worth approximately $36,000. Finally, Global Retirement Partners LLC lifted its holdings in Astera Labs by 3,155.6% during the 4th 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 last quarter. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Astera Labs Stock Up 4.2 %

NASDAQ:ALAB opened at $55.16 on Tuesday. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39. The stock’s 50-day simple moving average is $77.93 and its 200 day simple moving average is $91.11. The firm has a market capitalization of $8.94 billion and a PE ratio of -31.88.

Astera Labs (NASDAQ:ALAB) last posted its quarterly 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, analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Manuel Alba sold 63,000 shares of Astera Labs stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the sale, the director now directly owns 444,863 shares of the company’s stock, valued at approximately $28,190,968.31. This trade represents a 12.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jitendra Mohan sold 350,680 shares of the company’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 value of $31,389,366.80. Following the completion of the transaction, the chief executive officer now directly owns 2,353,655 shares of the company’s stock, valued at $210,675,659.05. This represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 633,990 shares of company stock valued at $54,235,012.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. 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. Morgan Stanley lowered their price target on shares of 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. 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. Raymond James started coverage on shares of Astera Labs in a report on Friday, March 14th. They set an “outperform” rating and a $82.00 target price on the stock. Finally, Barclays boosted their price target on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. One 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $112.77.

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.