BOCHK Asset Management Ltd Buys 13,200 Shares of Astera Labs, Inc. $ALAB

Key Points

• BOCHK Asset Management increased its Astera Labs position by 192.7% in the third quarter, purchasing 13,200 additional shares for a total of 20,050 shares valued at approximately $7.14 million. Institutional investors own 60.47% of the company.
• Analyst sentiment remains positive but mixed, with Astera Labs carrying a consensus “Moderate Buy” rating and an average price target of $340.79. Recent targets range from $275 to $425, while some firms downgraded the stock to “Hold.”
• Astera Labs shares opened at $229.67 after declining 11.2%, despite strong quarterly results: earnings per share reached $0.80 versus the $0.69 estimate, and revenue rose 104.5% year over year to $392.4 million. Meanwhile, insiders sold more than $127 million of stock over the past 90 days.

BOCHK Asset Management Ltd boosted its position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 192.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,050 shares of the company's stock after purchasing an additional 13,200 shares during the quarter. Astera Labs makes up approximately 1.0% of BOCHK Asset Management Ltd's investment portfolio, making the stock its 29th largest holding. BOCHK Asset Management Ltd's holdings in Astera Labs were worth $7,137,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Keating Financial Advisory Services Inc. acquired a new position in shares of Astera Labs during the second quarter worth $25,000. GK Wealth Management LLC purchased a new stake in shares of Astera Labs during the 3rd quarter valued at $29,000. Archer Investment Corp acquired a new stake in shares of Astera Labs in the 2nd quarter worth $30,000. Signature Equity Partners LLC boosted its position in shares of Astera Labs by 1,680.0% in the 3rd quarter. Signature Equity Partners LLC now owns 89 shares of the company's stock worth $32,000 after purchasing an additional 84 shares in the last quarter. Finally, Whipplewood Advisors LLC boosted its position in shares of Astera Labs by 15,950.0% in the 1st quarter. Whipplewood Advisors LLC now owns 321 shares of the company's stock worth $35,000 after purchasing an additional 319 shares in the last quarter. 60.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on ALAB. Susquehanna boosted their target price on Astera Labs from $230.00 to $275.00 and gave the stock a "neutral" rating in a research note on Friday, July 31st. Weiss Ratings cut Astera Labs from a "buy (b-)" rating to a "hold (c)" rating in a research note on Friday, October 23rd. Needham & Company LLC raised their price target on Astera Labs from $260.00 to $425.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. Morgan Stanley raised their price target on Astera Labs from $240.00 to $335.00 and gave the stock an "overweight" rating in a report on Monday, August 3rd. Finally, Citigroup lowered Astera Labs from a "buy" rating to a "hold" rating in a research note on Friday, October 9th. Eleven research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $340.79.

Insider Buying and Selling

In other Astera Labs news, Director Manuel Alba sold 183,000 shares of the company's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $280.13, for a total value of $51,263,790.00. Following the completion of the transaction, the director owned 253,863 shares in the company, valued at approximately $71,114,642.19. This represents a 41.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jitendra Mohan sold 90,630 shares of the company's stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $340.35, for a total transaction of $30,845,920.50. Following the completion of the transaction, the chief executive officer owned 1,266,665 shares of the company's stock, valued at approximately $431,109,432.75. This trade represents a 6.68% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 408,558 shares of company stock valued at $127,306,034 in the last ninety days. Company insiders own 10.40% of the company's stock.

Astera Labs Trading Down 11.2%

Shares of NASDAQ:ALAB opened at $229.67 on Tuesday. Astera Labs, Inc. has a 12-month low of $97.89 and a 12-month high of $499.48. The company has a market capitalization of $39.85 billion, a PE ratio of 113.70 and a beta of 3.68. The business has a 50 day moving average of $307.01 and a two-hundred day moving average of $255.22.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.69 by $0.11. The business had revenue of $392.40 million for the quarter, compared to analyst estimates of $360.85 million. Astera Labs had a return on equity of 19.24% and a net margin of 30.74%. The business's quarterly revenue was up 104.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 EPS. Equities research analysts predict that Astera Labs, Inc. will post 2.71 earnings per share for the current fiscal year.

Astera Labs Company Profile

Astera Labs, Inc is a semiconductor and connectivity solutions company that develops hardware and software for data centers, cloud computing, and artificial intelligence infrastructure. Its products are designed to help move data between processors, memory, storage, and networking components while addressing bandwidth, latency, and system-management requirements.

The company's portfolio includes Aries PCI Express and Compute Express Link (CXL) Smart Retimers, Taurus Ethernet Smart Cable Modules, Scorpio Smart Fabric Switches, and Leo CXL Memory Connectivity Controllers.

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