Brown Advisory Inc. Makes New Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Brown Advisory Inc. purchased a new stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,604 shares of the company's stock, valued at approximately $215,000.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Astera Labs by 354.9% in the 4th 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 in the last quarter. Alliancebernstein L.P. raised 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 worth $519,506,000 after acquiring an additional 3,760,765 shares in the last quarter. JPMorgan Chase & Co. raised 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 worth $312,644,000 after acquiring an additional 792,153 shares in the last quarter. Lord Abbett & CO. LLC raised 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 worth $240,873,000 after acquiring an additional 1,384,498 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Astera Labs by 418.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,674,000 shares of the company's stock worth $221,721,000 after acquiring an additional 1,351,007 shares in the last quarter. Institutional investors and hedge funds own 60.47% of the company's stock.

Astera Labs Price Performance

Shares of ALAB stock traded up $6.01 during midday trading on Thursday, hitting $97.95. The company had a trading volume of 5,303,519 shares, compared to its average volume of 4,408,357. The company's 50 day simple moving average is $91.66 and its 200 day simple moving average is $87.45. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39. The stock has a market cap of $16.15 billion, a price-to-earnings ratio of 445.25, a PEG ratio of 4.34 and a beta of 1.18.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced 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 return on equity of 2.57% and a net margin of 8.44%. The company had revenue of $159.44 million for the quarter, compared to the consensus estimate of $151.55 million. During the same period last year, the business posted $0.10 EPS. The company's revenue was up 144.1% on a year-over-year basis. Analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current year.

Insiders Place Their Bets

In related news, Director Bethany Mayer sold 686 shares of Astera Labs stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $87.47, for a total value of $60,004.42. Following the sale, the director directly owned 6,238 shares in the company, valued at $545,637.86. The trade was a 9.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Sanjay Gajendra sold 165,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $98.61, for a total value of $16,270,650.00. Following the completion of the sale, the chief operating officer owned 695,000 shares in the company, valued at approximately $68,533,950. This trade represents a 19.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,965,984 shares of company stock valued at $178,631,873 in the last three months.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ALAB shares. Citigroup cut their target price on Astera Labs from $120.00 to $100.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Stifel Nicolaus cut their target price on Astera Labs from $150.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Wall Street Zen lowered Astera Labs from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Roth Capital set a $100.00 target price on Astera Labs and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Finally, Susquehanna started coverage on Astera Labs in a research report on Friday, May 16th. They set a "neutral" rating and a $80.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Astera Labs presently has an average rating of "Moderate Buy" and an average target price of $100.00.

About Astera Labs

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.