BNP Paribas Financial Markets Purchases 797,507 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

BNP Paribas Financial Markets boosted its holdings in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 4,172.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 816,619 shares of the company's stock after buying an additional 797,507 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.51% of Astera Labs worth $108,161,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Alkeon Capital Management LLC lifted its holdings in shares of Astera Labs by 60.0% during the fourth quarter. Alkeon Capital Management LLC now owns 400,000 shares of the company's stock worth $52,980,000 after purchasing an additional 150,000 shares during the period. Altimeter Capital Management LP lifted its holdings in Astera Labs by 46.1% during the 4th quarter. Altimeter Capital Management LP now owns 584,430 shares of the company's stock worth $77,408,000 after buying an additional 184,430 shares during the period. Voleon Capital Management LP bought a new stake in shares of Astera Labs in the 4th quarter valued at about $4,700,000. Utah Retirement Systems acquired a new stake in shares of Astera Labs in the fourth quarter valued at about $768,000. Finally, Emerald Mutual Fund Advisers Trust raised its position in shares of Astera Labs by 429.3% during the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 704 shares of the company's stock worth $93,000 after acquiring an additional 571 shares during the last quarter. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Astera Labs Trading Up 1.2 %

NASDAQ ALAB opened at $72.15 on Tuesday. The business has a fifty day simple moving average of $64.36 and a 200 day simple moving average of $91.65. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39. The firm has a market capitalization of $11.90 billion, a P/E ratio of -41.70, a PEG ratio of 6.18 and a beta of 0.32.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its earnings results on Monday, February 10th. The company reported $0.10 EPS 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 predict that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other Astera Labs news, General Counsel Philip Mazzara sold 7,536 shares of the business's 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 transaction, the general counsel now directly owns 241,209 shares in the company, valued at $22,208,112.63. The trade was a 3.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael E. Hurlston sold 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total transaction of $230,200.00. Following the sale, the director now owns 91,794 shares of the company's stock, valued at approximately $8,452,391.52. The trade was a 2.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 633,990 shares of company stock valued at $54,235,012 in the last 90 days.

Analysts Set New Price Targets

Several brokerages recently commented on ALAB. Stifel Nicolaus decreased their target price on shares of Astera Labs from $150.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Needham & Company LLC reissued a "buy" rating and set a $140.00 target price on shares of Astera Labs in a research note on Tuesday, February 11th. Craig Hallum upped their price target on shares of Astera Labs from $105.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. Citigroup decreased their price target on Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Barclays boosted their price objective 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, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $109.25.

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.

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