Vanguard Group Inc. Buys 85,846 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Vanguard Group Inc. grew its holdings in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 0.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,297,476 shares of the company's stock after acquiring an additional 85,846 shares during the period. Vanguard Group Inc. owned 5.64% of Astera Labs worth $554,780,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Envestnet Asset Management Inc. raised its stake in Astera Labs by 204.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 85,553 shares of the company's stock valued at $11,331,000 after purchasing an additional 57,434 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Astera Labs by 33,535.3% during the 4th quarter. Russell Investments Group Ltd. now owns 11,436 shares of the company's stock worth $1,517,000 after purchasing an additional 11,402 shares in the last quarter. Legal & General Group Plc increased its position in shares of Astera Labs by 145.6% during the 4th quarter. Legal & General Group Plc now owns 59,518 shares of the company's stock worth $7,883,000 after purchasing an additional 35,285 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Astera Labs during the 4th quarter worth about $35,100,000. Finally, Bessemer Group Inc. bought a new stake in Astera Labs during the 4th quarter worth about $132,000. 60.47% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Astera Labs Trading Down 2.5%

Shares of NASDAQ ALAB traded down $4.84 during midday trading on Friday, reaching $185.85. The company's stock had a trading volume of 4,142,180 shares, compared to its average volume of 7,077,603. Astera Labs, Inc. has a fifty-two week low of $36.85 and a fifty-two week high of $199.47. The stock has a market capitalization of $30.89 billion, a price-to-earnings ratio of 331.88, a PEG ratio of 4.71 and a beta of 1.39. The stock has a 50 day simple moving average of $115.49 and a 200-day simple moving average of $90.17.

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

Analyst Upgrades and Downgrades

ALAB has been the topic of several recent research reports. Northland Securities lowered shares of Astera Labs from an "outperform" rating to a "market perform" rating and set a $120.00 target price on the stock. in a research note on Tuesday, July 22nd. Roth Capital set a $100.00 target price on shares of Astera Labs and gave the company a "buy" rating in a research note on Wednesday, May 7th. Morgan Stanley lifted their price objective on shares of Astera Labs from $125.00 to $155.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 6th. Barclays reissued an "overweight" rating and set a $155.00 price objective (up previously from $75.00) on shares of Astera Labs in a research note on Thursday, August 7th. Finally, William Blair started coverage on shares of Astera Labs in a research note on Thursday, May 22nd. They set an "outperform" rating on the stock. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $129.13.

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.