UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $20.47 Million Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 2,824.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 154,524 shares of the company's stock after buying an additional 149,240 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.10% of Astera Labs worth $20,467,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Astera Labs in the fourth quarter valued at approximately $25,000. Steward Partners Investment Advisory LLC raised its holdings in shares of Astera Labs by 99.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock valued at $26,000 after purchasing an additional 99 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Astera Labs in the fourth quarter valued at approximately $28,000. Geneos Wealth Management Inc. acquired a new stake in shares of Astera Labs in the fourth quarter valued at approximately $36,000. Finally, Global Retirement Partners LLC raised its holdings in shares of Astera Labs by 3,155.6% in the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company's stock valued at $39,000 after purchasing an additional 284 shares during the last quarter. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ALAB. Morgan Stanley upgraded shares of Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 price objective on the stock in a report on Monday, May 12th. Citigroup lowered their price objective on shares of Astera Labs from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Roth Capital set a $100.00 price objective on shares of Astera Labs and gave the company a "buy" rating in a report on Wednesday, May 7th. Raymond James assumed coverage on shares of Astera Labs in a report on Friday, March 14th. They issued an "outperform" rating and a $82.00 price objective on the stock. Finally, Craig Hallum raised their target price on shares of Astera Labs from $105.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Astera Labs has an average rating of "Buy" and a consensus target price of $100.00.

Insider Activity

In other news, Director Manuel Alba sold 63,000 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $63.37, for a total value of $3,992,310.00. Following the completion of the sale, the director now owns 444,863 shares of the company's stock, valued at approximately $28,190,968.31. The trade was a 12.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sanjay Gajendra sold 165,000 shares of the business's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.76, for a total transaction of $11,840,400.00. Following the completion of the sale, the insider now directly owns 755,000 shares of the company's stock, valued at approximately $54,178,800. The trade was a 17.93% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 891,840 shares of company stock valued at $75,722,670.

Astera Labs Price Performance

ALAB stock traded down $6.82 during midday trading on Friday, reaching $89.79. 11,134,642 shares of the company were exchanged, compared to its average volume of 4,044,568. The business has a 50-day moving average price of $71.39 and a two-hundred day moving average price of $92.63. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39. The firm has a market capitalization of $14.81 billion, a price-to-earnings ratio of -51.90, a price-to-earnings-growth ratio of 6.18 and a beta of 0.33.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $159.44 million during the quarter, compared to analysts' expectations of $151.55 million. During the same period in the previous year, the business posted $0.10 earnings per share. The company's revenue for the quarter was up 144.1% compared to the same quarter last year. As a group, analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal 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.