10,774 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Purchased by Lazard Asset Management LLC

Lazard Asset Management LLC acquired a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 10,774 shares of the company's stock, valued at approximately $1,427,000.

A number of other hedge funds have also modified their holdings of ALAB. Vanguard Group Inc. grew 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 buying an additional 7,186,582 shares in the last quarter. Alliancebernstein L.P. boosted its position in Astera Labs by 2,328.5% during the fourth quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company's stock valued at $519,506,000 after purchasing an additional 3,760,765 shares during the last quarter. Jennison Associates LLC acquired a new position in Astera Labs during the fourth quarter valued at approximately $229,991,000. Lord Abbett & CO. LLC boosted its position in Astera Labs by 318.9% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company's stock valued at $240,873,000 after purchasing an additional 1,384,498 shares during the last quarter. Finally, Norges Bank acquired a new position in Astera Labs during the fourth quarter valued at approximately $179,229,000. 60.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ALAB shares. Susquehanna started coverage on Astera Labs in a research report on Friday. They set a "neutral" rating and a $80.00 price target for the company. Citigroup reduced their price target on Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Raymond James started coverage on Astera Labs in a research report on Friday, March 14th. They set an "outperform" rating and a $82.00 price target for the company. Northland Securities raised Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price target for the company in a research report on Tuesday, January 28th. Finally, Needham & Company LLC reduced their price target on Astera Labs from $140.00 to $100.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. One analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $98.29.

Astera Labs Trading Down 1.8%

NASDAQ:ALAB opened at $90.56 on Monday. The stock has a market cap of $14.93 billion, a P/E ratio of -52.35, a PEG ratio of 6.18 and a beta of 0.33. The stock has a 50 day simple moving average of $66.62 and a 200 day simple moving average of $92.28. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.05. The business 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%. The firm's revenue for the quarter was up 144.1% compared to the same quarter last year. During the same period last year, the firm posted $0.10 EPS. As a group, sell-side analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current year.

Insider Buying and Selling

In other Astera Labs news, CEO Jitendra Mohan sold 350,680 shares of Astera Labs 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 completion of the transaction, the chief executive officer now directly owns 2,353,655 shares of the company's stock, valued at $210,675,659.05. The trade was a 12.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sanjay Gajendra sold 165,000 shares of Astera Labs stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $71.76, for a total value of $11,840,400.00. Following the completion of the transaction, the insider now directly owns 755,000 shares of the company's stock, valued at $54,178,800. This represents a 17.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 948,990 shares of company stock valued at $78,221,662.

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.

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