Astera Labs, Inc. (NASDAQ:ALAB) Shares Purchased by Nuveen Asset Management LLC

Nuveen Asset Management LLC boosted its position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 901.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 477,612 shares of the company's stock after purchasing an additional 429,903 shares during the period. Nuveen Asset Management LLC owned about 0.30% of Astera Labs worth $63,260,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Astera Labs by 354.9% in the fourth 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. lifted its position in shares of Astera Labs by 2,328.5% during the 4th quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company's stock valued at $519,506,000 after acquiring an additional 3,760,765 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Astera Labs by 50.5% during the 4th quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company's stock valued at $312,644,000 after acquiring an additional 792,153 shares during the period. Lord Abbett & CO. LLC lifted its position in shares of Astera Labs by 318.9% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company's stock valued at $240,873,000 after acquiring an additional 1,384,498 shares during the period. Finally, Jennison Associates LLC acquired a new stake in shares of Astera Labs during the 4th quarter valued at approximately $229,991,000. Institutional investors and hedge funds own 60.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ALAB. Barclays lifted their price target on shares of Astera Labs from $70.00 to $75.00 and gave the company an "overweight" rating in a research report on Wednesday, May 7th. Roth Capital set a $100.00 price target on shares of Astera Labs and gave the company a "buy" rating in a research report on Wednesday, May 7th. Craig Hallum lifted 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. Susquehanna began coverage on shares of Astera Labs in a research report on Friday. They set a "neutral" rating and a $80.00 price target for the company. Finally, Northland Capmk upgraded shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 28th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $98.29.

Insiders Place Their Bets

In other news, Director Michael E. Hurlston sold 2,500 shares of the business'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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jitendra Mohan sold 350,680 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was 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 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 disclosure for this sale can be found here. Insiders have sold 948,990 shares of company stock worth $78,221,662 in the last quarter.

Astera Labs Trading Down 1.8%

NASDAQ:ALAB opened at $90.56 on Monday. The firm has a market capitalization 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 fifty day simple moving average is $66.62 and its 200 day simple moving average is $92.28. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its earnings results 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. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. The business had revenue of $159.44 million for the quarter, compared to analyst estimates of $151.55 million. During the same quarter in the previous year, the business posted $0.10 EPS. The business's quarterly revenue was up 144.1% on a year-over-year basis. On average, analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

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.

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