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

Ethic Inc. purchased a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 4,956 shares of the company's stock, valued at approximately $656,000.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Astera Labs by 354.9% in the 4th quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company's stock valued at $1,220,080,000 after purchasing an additional 7,186,582 shares during the period. Alliancebernstein L.P. raised its stake in Astera Labs by 2,328.5% during the 4th quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company's stock worth $519,506,000 after buying an additional 3,760,765 shares during the period. JPMorgan Chase & Co. raised its stake in 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 buying an additional 792,153 shares during the period. Lord Abbett & CO. LLC raised its stake in Astera Labs by 318.9% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company's stock worth $240,873,000 after buying an additional 1,384,498 shares during the period. Finally, Jennison Associates LLC acquired a new stake in Astera Labs during the 4th quarter worth $229,991,000. 60.47% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Michael E. Hurlston sold 2,500 shares of the firm's stock in a transaction dated 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 sale, the director now directly owns 91,794 shares in the company, valued at approximately $8,452,391.52. This trade represents a 2.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jitendra Mohan sold 350,680 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 2,353,655 shares of the company's stock, valued at $210,675,659.05. This trade represents a 12.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 948,990 shares of company stock worth $78,221,662 in the last quarter.

Analysts Set New Price Targets

Several analysts recently commented on the company. Craig Hallum raised their price objective on Astera Labs from $105.00 to $125.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Citigroup dropped their price objective on Astera Labs from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Needham & Company LLC dropped their price objective on Astera Labs from $140.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Roth Capital set a $100.00 price objective on Astera Labs and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Finally, Morgan Stanley raised Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 price objective on the stock in a research note on Monday, May 12th. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has given 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 $98.29.

Astera Labs Price Performance

ALAB stock traded down $1.63 during trading hours on Friday, reaching $90.56. 3,807,931 shares of the stock were exchanged, compared to its average volume of 3,930,224. The company has a market cap of $14.93 billion, a price-to-earnings ratio of -52.35, a PEG ratio of 6.18 and a beta of 0.33. The firm's 50-day moving average is $66.62 and its 200-day moving average is $92.13. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39.

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