SBI Securities Co. Ltd. Buys New Shares in Astera Labs, Inc. (NASDAQ:ALAB)

SBI Securities Co. Ltd. purchased a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the 4th quarter, Holdings Channel reports. The fund purchased 12,537 shares of the company’s stock, valued at approximately $1,661,000.

Several other large investors have also recently bought and sold shares of ALAB. US Bancorp DE raised its stake in shares of Astera Labs by 627.4% during the 4th quarter. US Bancorp DE now owns 6,350 shares of the company’s stock worth $841,000 after purchasing an additional 5,477 shares in the last quarter. Versor Investments LP bought a new position in shares of Astera Labs in the fourth quarter valued at $451,000. Proficio Capital Partners LLC increased its holdings in Astera Labs by 1,008.3% during the fourth quarter. Proficio Capital Partners LLC now owns 235,364 shares of the company’s stock worth $31,174,000 after buying an additional 214,128 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in Astera Labs during the fourth quarter worth $3,476,000. Finally, Whipplewood Advisors LLC acquired a new stake in Astera Labs in the fourth quarter valued at $66,000. 60.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Astera Labs in a research report on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft lifted their target price on Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Morgan Stanley dropped their price target on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 28th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $115.33.

Insider Buying and Selling at Astera Labs

In related news, CEO Jitendra Mohan sold 350,680 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total value of $31,389,366.80. Following the completion of the sale, the chief executive officer now directly owns 2,353,655 shares in the company, valued at approximately $210,675,659.05. The trade was a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Michael Truett Tate sold 125,800 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $82.53, for a total value of $10,382,274.00. Following the sale, the chief financial officer now directly owns 244,242 shares in the company, valued at $20,157,292.26. This represents a 34.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 597,990 shares of company stock valued at $53,420,642 in the last quarter.

Astera Labs Price Performance

Shares of NASDAQ ALAB opened at $74.35 on Monday. The firm has a market cap of $12.06 billion and a price-to-earnings ratio of -42.98. The stock’s fifty day moving average price is $111.87 and its two-hundred day moving average price is $86.85. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing the consensus estimate 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, equities analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

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.