3,805 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Bought by Ellevest Inc.

Ellevest Inc. bought a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,805 shares of the company's stock, valued at approximately $504,000.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Astera Labs by 354.9% during the fourth quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company's stock worth $1,220,080,000 after acquiring an additional 7,186,582 shares in the last quarter. Alliancebernstein L.P. increased its position in Astera Labs by 2,328.5% in the 4th quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company's stock worth $519,506,000 after purchasing an additional 3,760,765 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Astera Labs by 50.5% during the 4th quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company's stock worth $312,644,000 after purchasing an additional 792,153 shares in the last quarter. Lord Abbett & CO. LLC lifted its holdings in shares of Astera Labs by 318.9% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company's stock valued at $240,873,000 after buying an additional 1,384,498 shares during the last quarter. Finally, Jennison Associates LLC acquired a new stake in Astera Labs in the fourth quarter valued at approximately $229,991,000. Hedge funds and other institutional investors own 60.47% of the company's stock.

Insider Activity at Astera Labs

In other Astera Labs news, General Counsel Philip Mazzara sold 7,536 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total value of $693,839.52. Following the completion of the sale, the general counsel now owns 241,209 shares in the company, valued at approximately $22,208,112.63. This trade represents a 3.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 value of $230,200.00. Following the completion of the transaction, the director now owns 91,794 shares of the company's stock, valued at $8,452,391.52. This trade represents a 2.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 873,990 shares of company stock valued at $71,404,162 in the last three months.

Astera Labs Price Performance

ALAB traded up $7.48 during trading on Tuesday, hitting $87.76. 6,574,386 shares of the stock traded hands, compared to its average volume of 3,887,974. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39. The business has a 50 day moving average price of $64.56 and a 200 day moving average price of $91.79. The company has a market cap of $14.47 billion, a price-to-earnings ratio of -50.73, a PEG ratio of 6.18 and a beta of 0.33.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. The business had revenue of $159.44 million during the quarter, compared to analyst estimates of $151.55 million. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. The firm's quarterly revenue was up 144.1% on a year-over-year basis. During the same quarter last year, the business earned $0.10 EPS. On average, equities research analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ALAB shares. Raymond James started coverage on shares of Astera Labs in a research note on Friday, March 14th. They issued an "outperform" rating and a $82.00 price objective for the company. Stifel Nicolaus decreased their price target on shares of Astera Labs from $150.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Roth Capital set a $100.00 price target on Astera Labs and gave the company a "buy" rating in a research note on Wednesday, May 7th. Citigroup reduced their price objective on shares of Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Northland Capmk raised shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 28th. Thirteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $99.69.

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.