Baird Financial Group Inc. Has $6.23 Million Stock Position in Astera Labs, Inc. (NASDAQ:ALAB)

Baird Financial Group Inc. trimmed its position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 29.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,015 shares of the company's stock after selling 19,440 shares during the quarter. Baird Financial Group Inc.'s holdings in Astera Labs were worth $6,227,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Astera Labs in the 4th quarter valued at about $25,000. Steward Partners Investment Advisory LLC boosted its stake 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 valued at $26,000 after buying an additional 99 shares during the period. Kestra Investment Management LLC purchased a new position in shares of Astera Labs in the 4th quarter valued at about $28,000. Geneos Wealth Management Inc. purchased a new position in shares of Astera Labs in the 4th quarter valued at about $36,000. Finally, Global Retirement Partners LLC boosted its stake in shares of Astera Labs by 3,155.6% in the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock valued at $39,000 after buying an additional 284 shares during the period. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, CEO Jitendra Mohan sold 350,680 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total value of $31,389,366.80. Following the transaction, the chief executive officer now directly owns 2,353,655 shares in the company, valued at approximately $210,675,659.05. This trade represents a 12.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael E. Hurlston sold 2,500 shares of the 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 in the company, valued at $8,452,391.52. The trade was a 2.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 873,990 shares of company stock worth $71,404,162.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ALAB shares. Roth Capital set a $100.00 target price on Astera Labs and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Morgan Stanley raised Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 target price on the stock in a report on Monday. Barclays lifted their price target on Astera Labs from $70.00 to $75.00 and gave the company an "overweight" rating in a research note on Wednesday, May 7th. Northland Securities upgraded Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 target price on the stock in a research report on Tuesday, January 28th. Finally, Needham & Company LLC decreased their target price on Astera Labs from $140.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Thirteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $99.69.

Astera Labs Trading Up 12.8%

NASDAQ ALAB traded up $9.08 during trading hours on Monday, reaching $80.28. 6,332,746 shares of the company's stock were exchanged, compared to its average volume of 3,869,034. The stock has a market cap of $13.24 billion, a PE ratio of -46.40, a price-to-earnings-growth ratio of 6.18 and a beta of 0.33. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39. The firm has a fifty day moving average of $64.32 and a 200-day moving average of $91.73.

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

Astera Labs 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.