California State Teachers Retirement System Has $5.53 Million Position in Astera Labs, Inc. (NASDAQ:ALAB)

California State Teachers Retirement System lifted its position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 2,495.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,740 shares of the company's stock after buying an additional 40,132 shares during the period. California State Teachers Retirement System's holdings in Astera Labs were worth $5,528,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ALAB. Whittier Trust Co. of Nevada Inc. acquired a new stake in Astera Labs in the 4th quarter valued at $25,000. Steward Partners Investment Advisory LLC grew its holdings in shares of Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock valued at $26,000 after acquiring an additional 99 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in shares of Astera Labs in the fourth quarter valued at about $28,000. Global Retirement Partners LLC increased its position 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 acquiring an additional 284 shares during the last quarter. Finally, Murphy & Mullick Capital Management Corp bought a new stake in Astera Labs during the fourth quarter worth about $43,000. 60.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Astera Labs news, insider Sanjay Gajendra sold 165,000 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $71.76, for a total transaction of $11,840,400.00. Following the transaction, the insider now owns 755,000 shares in the company, valued at $54,178,800. This trade represents a 17.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jitendra Mohan sold 75,000 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.05, for a total transaction of $5,328,750.00. Following the completion of the transaction, the chief executive officer now owns 575,000 shares in the company, valued at $40,853,750. This trade represents a 11.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,406,640 shares of company stock valued at $122,317,670.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Citigroup decreased their price target on Astera Labs from $120.00 to $100.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Evercore ISI raised their target price on shares of Astera Labs from $87.00 to $104.00 and gave the company an "outperform" rating in a research note on Wednesday, May 21st. Roth Capital set a $100.00 target price on shares of Astera Labs and gave the stock a "buy" rating in a report on Wednesday, May 7th. Stifel Nicolaus dropped their price target on shares of Astera Labs from $150.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Finally, Raymond James assumed coverage on shares of Astera Labs in a research report on Friday, March 14th. They issued an "outperform" rating and a $82.00 price objective for the company. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $100.00.

Astera Labs Stock Performance

Shares of ALAB stock traded up $0.13 during midday trading on Wednesday, hitting $95.22. 3,548,875 shares of the company were exchanged, compared to its average volume of 4,045,643. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39. The firm has a market capitalization of $15.70 billion, a P/E ratio of -55.04, a PEG ratio of 6.18 and a beta of 0.33. The firm's 50 day moving average price is $72.55 and its two-hundred day moving average price is $92.69.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.05. Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. The company had revenue of $159.44 million during the quarter, compared to analysts' expectations of $151.55 million. During the same quarter in the previous year, the company posted $0.10 earnings per share. The business's revenue was up 144.1% on a year-over-year basis. Analysts expect that Astera Labs, Inc. will post 0.34 EPS 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.