Swiss National Bank Invests $10.20 Million in Astera Labs, Inc. (NASDAQ:ALAB)

Swiss National Bank purchased a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 77,000 shares of the company’s stock, valued at approximately $10,199,000.

Other large investors also recently modified their holdings of the company. Steward Partners Investment Advisory LLC boosted its holdings in Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after buying an additional 99 shares during the period. Kestra Investment Management LLC bought a new position in Astera Labs in the 4th quarter worth approximately $28,000. Geneos Wealth Management Inc. bought a new position in Astera Labs in the 4th quarter worth approximately $36,000. Global Retirement Partners LLC boosted its holdings in Astera Labs by 3,155.6% in the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock worth $39,000 after buying an additional 284 shares during the period. Finally, ORG Wealth Partners LLC bought a new position in Astera Labs in the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Insider Buying and Selling

In other Astera Labs news, Director Michael E. Hurlston sold 2,500 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total value of $230,200.00. Following the transaction, the director now owns 91,794 shares in the company, valued at approximately $8,452,391.52. The trade was a 2.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Truett Tate sold 125,800 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total transaction of $10,382,274.00. Following the completion of the transaction, the chief financial officer now owns 244,242 shares in the company, valued at $20,157,292.26. The trade was a 34.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 570,990 shares of company stock worth $50,242,702 in the last 90 days.

Analyst Ratings Changes

Several research firms recently commented on ALAB. Stifel Nicolaus raised their price objective on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Astera Labs in a report on Tuesday, February 11th. Craig Hallum raised their price target on shares of Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Northland Securities raised shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a report on Tuesday, January 28th. Finally, Barclays raised their price target on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, January 17th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Astera Labs has an average rating of “Buy” and an average price target of $112.77.

Astera Labs Stock Performance

NASDAQ ALAB opened at $68.97 on Friday. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39. The company has a market capitalization of $11.18 billion and a P/E ratio of -39.87. The company has a fifty day moving average of $92.41 and a 200-day moving average of $88.70.

Astera Labs (NASDAQ:ALAB) last issued its earnings results on Monday, February 10th. The company reported $0.10 EPS 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%. As a group, analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current fiscal 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.