Xponance Inc. Makes New Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Xponance Inc. purchased a new stake in Astera Labs, Inc. (NASDAQ:ALAB) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 5,223 shares of the company’s stock, valued at approximately $692,000.

Several other large investors also recently made changes to their positions in the stock. FMR LLC lifted its position in Astera Labs by 0.7% in the 3rd quarter. FMR LLC now owns 23,504,038 shares of the company’s stock valued at $1,231,377,000 after acquiring an additional 153,491 shares in the last quarter. Fred Alger Management LLC boosted its position in shares of Astera Labs by 1,361.0% during the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after buying an additional 2,628,765 shares during the period. Jennison Associates LLC bought a new position in shares of Astera Labs during the fourth quarter worth about $229,991,000. JPMorgan Chase & Co. raised its position in Astera Labs by 3.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company’s stock valued at $82,164,000 after buying an additional 47,569 shares during the last quarter. Finally, Maverick Capital Ltd. lifted its stake in Astera Labs by 16.0% in the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock valued at $60,575,000 after acquiring an additional 159,480 shares in the last quarter. Institutional investors own 60.47% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ALAB shares. Raymond James initiated coverage on shares of Astera Labs in a report on Friday, March 14th. They issued an “outperform” rating and a $82.00 price objective on the stock. Morgan Stanley cut 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. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Craig Hallum upped their target price on Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, Barclays raised their price target on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $112.77.

Astera Labs Stock Up 3.8 %

Shares of NASDAQ:ALAB opened at $73.78 on Tuesday. The stock has a market cap of $11.96 billion and a PE ratio of -42.65. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39. The business has a 50 day moving average of $90.17 and a 200-day moving average of $89.80.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data 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 research analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Insider Activity at Astera Labs

In other news, CFO Michael Truett Tate sold 125,800 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $82.53, for a total transaction of $10,382,274.00. Following the sale, the chief financial officer now directly owns 244,242 shares of the company’s stock, valued at approximately $20,157,292.26. This represents a 34.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Philip Mazzara sold 7,536 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total transaction of $693,839.52. Following the completion of the transaction, the general counsel now owns 241,209 shares of the company’s stock, valued at $22,208,112.63. The trade was a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 570,990 shares of company stock worth $50,242,702.

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.