Maryland State Retirement & Pension System Invests $765,000 in Astera Labs, Inc. (NASDAQ:ALAB)

Maryland State Retirement & Pension System purchased a new stake in Astera Labs, Inc. (NASDAQ:ALAB) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,772 shares of the company’s stock, valued at approximately $765,000.

A number of other hedge funds have also recently bought and sold shares of the business. Xponance Inc. bought a new position in Astera Labs during the 4th quarter valued at $692,000. Thrivent Financial for Lutherans bought a new position in shares of Astera Labs during the fourth quarter worth about $540,000. Wealth Architects LLC acquired a new position in Astera Labs in the fourth quarter worth about $763,000. SlateStone Wealth LLC increased its holdings in Astera Labs by 15.0% in the fourth quarter. SlateStone Wealth LLC now owns 18,400 shares of the company’s stock valued at $2,437,000 after buying an additional 2,400 shares during the last quarter. Finally, CV Advisors LLC acquired a new stake in Astera Labs during the fourth quarter valued at approximately $265,000. Institutional investors and hedge funds own 60.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Barclays lifted their target price on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Raymond James initiated coverage on shares of Astera Labs in a research note on Friday, March 14th. They set an “outperform” rating and a $82.00 target price for the company. Morgan Stanley reduced 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. Stifel Nicolaus boosted their price objective on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $140.00 target price on shares of Astera Labs in a report on Tuesday, February 11th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $112.77.

Astera Labs Stock Performance

Shares of ALAB stock opened at $73.78 on Tuesday. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39. The firm has a market capitalization of $11.96 billion and a PE ratio of -42.65. The stock has a fifty day moving average of $90.17 and a two-hundred day moving average of $89.80.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share 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 predict that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jitendra Mohan sold 350,680 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the completion of the transaction, the chief executive officer now owns 2,353,655 shares of the company’s stock, valued at $210,675,659.05. This trade represents a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Philip Mazzara sold 50,000 shares of Astera Labs stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $87.46, for a total value of $4,373,000.00. Following the transaction, the general counsel now directly owns 191,209 shares in the company, valued at approximately $16,723,139.14. The trade was a 20.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 570,990 shares of company stock worth $50,242,702 over the last three months.

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.