AGF Management Ltd. Purchases 9,941 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Key Points

• AGF Management Ltd. increased its stake in Astera Labs by 8.5%, acquiring an additional 9,941 shares during Q1, bringing its total ownership to 127,232 shares valued at approximately $7.59 million.
• Insider transactions included the CFO selling 500,000 shares for $45.12 million and the selling 280,000 shares for $47.61 million, indicating significant movements within the company's leadership.
• Wall Street analysts have issued positive ratings for Astera Labs, with price targets ranging from $100 to $155, while the company boasts a market capitalization of $31.91 billion.

AGF Management Ltd. raised its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 8.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 127,232 shares of the company's stock after buying an additional 9,941 shares during the quarter. AGF Management Ltd. owned about 0.08% of Astera Labs worth $7,592,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Astera Labs by 2,824.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 154,524 shares of the company's stock worth $20,467,000 after purchasing an additional 149,240 shares in the last quarter. Pacific Point Advisors LLC boosted its stake in Astera Labs by 75.0% in the first quarter. Pacific Point Advisors LLC now owns 7,000 shares of the company's stock valued at $418,000 after buying an additional 3,000 shares in the last quarter. Aigen Investment Management LP raised its position in Astera Labs by 50.9% in the first quarter. Aigen Investment Management LP now owns 17,920 shares of the company's stock valued at $1,069,000 after purchasing an additional 6,045 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in Astera Labs by 73.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 15,995 shares of the company's stock valued at $954,000 after purchasing an additional 6,783 shares during the last quarter. Finally, Taylor Frigon Capital Management LLC bought a new position in shares of Astera Labs during the first quarter worth about $1,887,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Astera Labs

In other news, COO Sanjay Gajendra sold 280,000 shares of the company's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $170.02, for a total value of $47,605,600.00. Following the completion of the transaction, the chief operating officer directly owned 5,525,545 shares in the company, valued at approximately $939,453,160.90. This represents a 4.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stefan A. Dyckerhoff sold 1,000 shares of the company's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $173.42, for a total value of $173,420.00. Following the completion of the transaction, the director owned 8,936 shares of the company's stock, valued at $1,549,681.12. The trade was a 10.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,329,686 shares of company stock worth $273,512,376 in the last 90 days. 12.50% of the stock is owned by company insiders.

Astera Labs Price Performance

Shares of ALAB traded down $4.84 during mid-day trading on Friday, hitting $185.85. The stock had a trading volume of 3,684,233 shares, compared to its average volume of 4,968,472. The firm has a market cap of $30.89 billion, a P/E ratio of 331.88, a PEG ratio of 4.91 and a beta of 1.39. The business has a fifty day moving average price of $113.59 and a 200-day moving average price of $89.51. Astera Labs, Inc. has a 52 week low of $36.85 and a 52 week high of $199.47.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.11. Astera Labs had a return on equity of 9.53% and a net margin of 16.54%. The firm had revenue of $191.93 million for the quarter, compared to analyst estimates of $172.46 million. During the same period in the previous year, the company posted $0.13 earnings per share. The business's revenue was up 149.5% on a year-over-year basis. As a group, research analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Roth Capital set a $100.00 price objective on Astera Labs and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Morgan Stanley lifted their target price on Astera Labs from $125.00 to $155.00 and gave the stock an "overweight" rating in a report on Wednesday, August 6th. Zacks Research upgraded Astera Labs to a "strong-buy" rating in a report on Tuesday. William Blair began coverage on Astera Labs in a report on Thursday, May 22nd. They issued an "outperform" rating for the company. Finally, Wall Street Zen downgraded Astera Labs from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Astera Labs has an average rating of "Moderate Buy" and a consensus price target of $129.13.

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.