JPMorgan Chase & Co. Has $82.16 Million Stock Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

JPMorgan Chase & Co. raised its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 3.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,568,314 shares of the company’s stock after purchasing an additional 47,569 shares during the quarter. JPMorgan Chase & Co.’s holdings in Astera Labs were worth $82,164,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new stake in Astera Labs in the 2nd quarter valued at $8,361,000. Rhumbline Advisers bought a new position in shares of Astera Labs during the second quarter valued at $1,009,000. Victory Capital Management Inc. acquired a new stake in shares of Astera Labs in the 2nd quarter valued at $815,000. Ground Swell Capital LLC bought a new stake in shares of Astera Labs in the 2nd quarter worth about $524,000. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Astera Labs by 2.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 91,408 shares of the company’s stock worth $5,531,000 after purchasing an additional 2,343 shares in the last quarter. 60.47% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Michael Truett Tate sold 16,000 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $117.84, for a total value of $1,885,440.00. Following the completion of the sale, the chief financial officer now owns 1,412,888 shares in the company, valued at approximately $166,494,721.92. This represents a 1.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Sanjay Gajendra sold 740,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $96.59, for a total value of $71,476,600.00. Following the transaction, the insider now owns 775,000 shares in the company, valued at approximately $74,857,250. This trade represents a 48.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,978,119 shares of company stock valued at $186,618,509 in the last 90 days.

Astera Labs Price Performance

Shares of NASDAQ:ALAB opened at $134.63 on Friday. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.36. The business has a 50-day moving average price of $108.26 and a two-hundred day moving average price of $71.06.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The business had revenue of $113.10 million during the quarter, compared to the consensus estimate of $97.50 million. The firm’s revenue for the quarter was up 47.1% on a year-over-year basis. On average, equities research analysts anticipate that Astera Labs, Inc. will post -0.45 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft boosted their target price on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Barclays raised their price target on Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Citigroup began coverage on Astera Labs in a research note on Monday, November 18th. They issued a “buy” rating and a $120.00 price objective on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $65.00 target price on shares of Astera Labs in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $101.58.

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.