JPMorgan Chase & Co. Has $312.64 Million Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

JPMorgan Chase & Co. grew its position in Astera Labs, Inc. (NASDAQ:ALAB) by 50.5% in the fourth quarter, Holdings Channel reports. The fund owned 2,360,467 shares of the company’s stock after acquiring an additional 792,153 shares during the quarter. JPMorgan Chase & Co.’s holdings in Astera Labs were worth $312,644,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Astera Labs by 354.9% during the 4th quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company’s stock worth $1,220,080,000 after buying an additional 7,186,582 shares during the period. Jennison Associates LLC bought a new position in shares of Astera Labs during the fourth quarter valued at $229,991,000. State Street Corp lifted its holdings in shares of Astera Labs by 173.1% during the third quarter. State Street Corp now owns 698,467 shares of the company’s stock worth $36,593,000 after purchasing an additional 442,698 shares during the period. Amundi grew its stake in shares of Astera Labs by 1,643,487.1% in the fourth quarter. Amundi now owns 509,512 shares of the company’s stock worth $66,629,000 after purchasing an additional 509,481 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Astera Labs by 0.8% in the third quarter. Geode Capital Management LLC now owns 444,887 shares of the company’s stock valued at $23,312,000 after purchasing an additional 3,628 shares during the period. Institutional investors and hedge funds own 60.47% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have 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 report on Friday, January 17th. Raymond James started coverage on Astera Labs in a research report on Friday, March 14th. They set an “outperform” rating and a $82.00 price objective for the company. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Northland Securities upgraded 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, Morgan Stanley reduced their price objective on shares of 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 equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $112.77.

Insider Buying and Selling

In other news, General Counsel Philip Mazzara sold 50,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the general counsel now directly owns 191,209 shares of the company’s stock, valued at $16,723,139.14. This represents a 20.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Michael Truett Tate sold 125,800 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total value 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. This represents 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 ninety days.

Astera Labs Trading Down 3.2 %

NASDAQ:ALAB opened at $60.78 on Monday. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39. The stock has a market capitalization of $9.86 billion and a price-to-earnings ratio of -35.13. The firm has a fifty day simple moving average of $85.00 and a two-hundred day simple moving average of $90.54.

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 net margin of 21.05% and a negative return on equity of 10.40%. Equities analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Astera Labs Company 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.