Cambridge Investment Research Advisors Inc. Has $830,000 Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

Cambridge Investment Research Advisors Inc. grew its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 63.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,906 shares of the company's stock after purchasing an additional 5,416 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Astera Labs were worth $830,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of ALAB. Vanguard Group Inc. boosted its holdings in shares of Astera Labs by 354.9% during the 4th quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company's stock worth $1,220,080,000 after buying an additional 7,186,582 shares during the period. Alliancebernstein L.P. boosted its holdings in Astera Labs by 2,328.5% during the fourth quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company's stock valued at $519,506,000 after acquiring an additional 3,760,765 shares during the period. Lord Abbett & CO. LLC grew its position in shares of Astera Labs by 318.9% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company's stock valued at $240,873,000 after purchasing an additional 1,384,498 shares during the last quarter. Norges Bank acquired a new stake in shares of Astera Labs in the fourth quarter valued at about $179,229,000. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Astera Labs by 418.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,674,000 shares of the company's stock worth $221,721,000 after purchasing an additional 1,351,007 shares during the period. 60.47% of the stock is currently owned by institutional investors.

Astera Labs Price Performance

Astera Labs stock opened at $90.93 on Monday. The business has a 50 day simple moving average of $87.73 and a 200 day simple moving average of $89.30. The company has a market capitalization of $15.00 billion, a PE ratio of 413.31, a price-to-earnings-growth ratio of 4.27 and a beta of 1.18. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39.

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, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $151.55 million. During the same period last year, the business earned $0.10 earnings per share. The business's revenue was up 144.1% on a year-over-year basis. Equities analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ALAB. Stifel Nicolaus decreased their target price on Astera Labs from $150.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Evercore ISI increased their price objective on Astera Labs from $87.00 to $104.00 and gave the company an "outperform" rating in a research report on Wednesday, May 21st. Susquehanna initiated coverage on shares of Astera Labs in a research note on Friday, May 16th. They issued a "neutral" rating and a $80.00 price objective on the stock. Raymond James Financial assumed coverage on shares of Astera Labs in a research note on Friday, March 14th. They set an "outperform" rating and a $82.00 target price for the company. Finally, Wall Street Zen upgraded shares of Astera Labs from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. One analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $100.00.

Insider Activity at Astera Labs

In related news, CEO Jitendra Mohan sold 128,250 shares of the firm's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $90.02, for a total transaction of $11,545,065.00. Following the completion of the sale, the chief executive officer directly owned 541,125 shares of the company's stock, valued at $48,712,072.50. This trade represents a 19.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Michael Truett Tate sold 500,000 shares of Astera Labs stock in a transaction on Friday, May 30th. The shares were sold at an average price of $90.23, for a total value of $45,115,000.00. Following the completion of the transaction, the chief financial officer owned 618,996 shares of the company's stock, valued at approximately $55,852,009.08. The trade was a 44.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,688,729 shares of company stock valued at $152,015,940 in the last ninety days.

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.

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