Mitsubishi UFJ Asset Management Co. Ltd. Has $7.12 Million Stock Position in Astera Labs, Inc. (NASDAQ:ALAB)

Mitsubishi UFJ Asset Management Co. Ltd. cut its stake in Astera Labs, Inc. (NASDAQ:ALAB) by 35.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,500 shares of the company’s stock after selling 28,000 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Astera Labs were worth $7,117,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Whittier Trust Co. of Nevada Inc. bought a new stake in Astera Labs in the fourth quarter valued at $25,000. Steward Partners Investment Advisory LLC grew its holdings in shares of 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 purchasing an additional 99 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Astera Labs during the 4th quarter worth about $28,000. Geneos Wealth Management Inc. bought a new position in Astera Labs during the 4th quarter valued at about $36,000. Finally, Global Retirement Partners LLC boosted its position in Astera Labs by 3,155.6% in the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock valued at $39,000 after buying an additional 284 shares in the last quarter. Institutional investors own 60.47% of the company’s stock.

Insider Activity at Astera Labs

In other news, CEO Jitendra Mohan sold 350,680 shares of Astera Labs stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the transaction, the chief executive officer now directly 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 document filed with the SEC, which is available through this hyperlink. Also, Director Michael E. Hurlston sold 2,500 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total transaction of $230,200.00. Following the completion of the sale, the director now owns 91,794 shares of the company’s stock, valued at approximately $8,452,391.52. This represents a 2.65 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 570,990 shares of company stock worth $50,242,702.

Astera Labs Trading Down 1.8 %

Shares of NASDAQ ALAB opened at $59.67 on Tuesday. The firm has a market capitalization of $9.68 billion and a PE ratio of -34.49. The firm’s 50-day moving average is $83.53 and its 200-day moving average is $90.67. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39.

Astera Labs (NASDAQ:ALAB) last released 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, equities research analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on ALAB shares. Northland Securities raised shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a report on Tuesday, January 28th. Barclays raised their price target on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Raymond James initiated coverage on Astera Labs in a report on Friday, March 14th. They set an “outperform” rating and a $82.00 target price on the stock. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Stifel Nicolaus upped their price target on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $112.77.

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.