Astera Labs, Inc. (NASDAQ:ALAB) Shares Bought by Barclays PLC

Barclays PLC raised its position in Astera Labs, Inc. (NASDAQ:ALAB) by 7.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 92,462 shares of the company’s stock after purchasing an additional 6,051 shares during the period. Barclays PLC’s holdings in Astera Labs were worth $12,247,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of ALAB. Virtus Wealth Solutions LLC acquired a new position in shares of Astera Labs during the fourth quarter worth $9,787,000. Sterling Capital Management LLC boosted its position in shares of Astera Labs by 656.7% during the 4th quarter. Sterling Capital Management LLC now owns 6,190 shares of the company’s stock worth $820,000 after acquiring an additional 5,372 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in shares of Astera Labs by 393.8% in the 4th quarter. Treasurer of the State of North Carolina now owns 47,550 shares of the company’s stock valued at $6,298,000 after acquiring an additional 37,920 shares during the last quarter. F M Investments LLC acquired a new stake in shares of Astera Labs during the 4th quarter worth about $3,000,000. Finally, Bessemer Group Inc. purchased a new stake in Astera Labs during the fourth quarter worth approximately $132,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ALAB. Northland Capmk raised shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Raymond James initiated coverage on shares of Astera Labs in a research report on Friday, March 14th. They issued an “outperform” rating and a $82.00 target price on the stock. Craig Hallum boosted their price target on shares of Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price objective on shares of Astera Labs in a report on Tuesday, February 11th. Finally, Citigroup reduced their target price on Astera Labs from $120.00 to $100.00 and set a “buy” rating for the company in a report on Monday, April 14th. One equities research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Astera Labs presently has a consensus rating of “Buy” and an average target price of $109.25.

Insider Buying and Selling at Astera Labs

In related news, Director Manuel Alba sold 63,000 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $63.37, for a total value of $3,992,310.00. Following the completion of the sale, the director now owns 444,863 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $230,200.00. Following the sale, the director now directly owns 91,794 shares in the company, valued at approximately $8,452,391.52. This represents a 2.65 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 633,990 shares of company stock valued at $54,235,012.

Astera Labs Stock Down 7.7 %

Shares of Astera Labs stock opened at $54.42 on Tuesday. The firm has a market cap of $8.82 billion and a price-to-earnings ratio of -31.46. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39. The company’s 50-day simple moving average is $68.57 and its 200-day simple moving average is $91.44.

Astera Labs (NASDAQ:ALAB) last released its 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%. Equities research analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current year.

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.