Price T Rowe Associates Inc. MD Raises Stock Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

Price T Rowe Associates Inc. MD lifted its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 1,498.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 222,919 shares of the company's stock after buying an additional 208,971 shares during the period. Price T Rowe Associates Inc. MD owned about 0.14% of Astera Labs worth $29,526,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of ALAB. Dark Forest Capital Management LP acquired a new position in Astera Labs during the fourth quarter worth about $579,000. Hsbc Holdings PLC lifted its stake in Astera Labs by 19.0% in the 4th quarter. Hsbc Holdings PLC now owns 46,465 shares of the company's stock valued at $6,284,000 after purchasing an additional 7,414 shares during the last quarter. Goldstream Capital Management Ltd bought a new stake in shares of Astera Labs during the fourth quarter worth $1,642,000. Tower Research Capital LLC TRC grew its stake in shares of Astera Labs by 84.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,476 shares of the company's stock worth $460,000 after buying an additional 1,587 shares during the last quarter. Finally, MML Investors Services LLC acquired a new position in shares of Astera Labs during the fourth quarter worth $1,401,000. 60.47% of the stock is currently owned by institutional investors.

Astera Labs Stock Performance

Shares of ALAB stock traded up $2.05 during trading hours on Friday, hitting $71.27. 3,197,445 shares of the company were exchanged, compared to its average volume of 3,825,124. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The company has a 50 day simple moving average of $64.57 and a two-hundred day simple moving average of $91.43. The firm has a market cap of $11.75 billion, a P/E ratio of -41.20, a P/E/G ratio of 6.18 and a beta of 0.32.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its quarterly earnings results 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 net margin of 21.05% and a negative return on equity of 10.40%. As a group, sell-side analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Insider Activity

In other Astera Labs news, CEO Jitendra Mohan sold 350,680 shares of the company's 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 owns 2,353,655 shares in the company, valued at approximately $210,675,659.05. This represents a 12.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Philip Mazzara sold 7,536 shares of Astera Labs stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total transaction of $693,839.52. Following the transaction, the general counsel now owns 241,209 shares of the company's stock, valued at $22,208,112.63. This represents a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 633,990 shares of company stock worth $54,235,012 over the last quarter.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Citigroup reduced their price objective on Astera Labs from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. 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 for the company. Stifel Nicolaus reduced their target price on shares of Astera Labs from $150.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Craig Hallum lifted their price target on shares of Astera Labs from $105.00 to $125.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Finally, Northland Securities raised Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 target price for the company in a research report on Tuesday, January 28th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $109.25.

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.