China Universal Asset Management Co. Ltd. Decreases Stock Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

China Universal Asset Management Co. Ltd. trimmed its stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 85.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,700 shares of the company's stock after selling 22,300 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in Astera Labs were worth $221,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ALAB. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Astera Labs during the fourth quarter worth approximately $25,000. Steward Partners Investment Advisory LLC grew its holdings in shares of Astera Labs by 99.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock worth $26,000 after purchasing an additional 99 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new position in shares of Astera Labs in the fourth quarter worth approximately $43,000. Sound Income Strategies LLC grew its holdings in shares of Astera Labs by 34.7% in the first quarter. Sound Income Strategies LLC now owns 792 shares of the company's stock worth $47,000 after purchasing an additional 204 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Astera Labs by 55.7% in the first quarter. GAMMA Investing LLC now owns 794 shares of the company's stock worth $47,000 after purchasing an additional 284 shares during the last quarter. 60.47% of the stock is currently owned by institutional investors.

Astera Labs Stock Performance

Shares of ALAB traded up $0.83 during trading hours on Friday, hitting $97.85. The company had a trading volume of 1,718,893 shares, compared to its average volume of 4,347,817. The firm has a fifty day moving average price of $89.98 and a 200-day moving average price of $88.83. The stock has a market capitalization of $16.14 billion, a price-to-earnings ratio of 444.66, a P/E/G ratio of 4.69 and a beta of 1.18. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.05. The firm had revenue of $159.44 million during the quarter, compared to analyst estimates of $151.55 million. Astera Labs had a return on equity of 2.57% and a net margin of 8.44%. Astera Labs's quarterly revenue was up 144.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.10 EPS. Research analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Astera Labs news, CFO Michael Truett Tate sold 500,000 shares of the business's stock in a transaction dated Friday, May 30th. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jitendra Mohan sold 128,250 shares of the business's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $90.02, for a total value of $11,545,065.00. Following the completion of the transaction, the chief executive officer directly owned 541,125 shares of the company's stock, valued at approximately $48,712,072.50. This trade represents a 19.16% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,782,720 shares of company stock valued at $160,506,999.

Analyst Upgrades and Downgrades

ALAB has been the topic of several recent analyst reports. Morgan Stanley upgraded shares of Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 target price on the stock in a report on Monday, May 12th. William Blair initiated coverage on shares of Astera Labs in a report on Thursday, May 22nd. They issued an "outperform" rating on the stock. Evercore ISI lifted their price target on shares of Astera Labs from $87.00 to $104.00 and gave the company an "outperform" rating in a report on Wednesday, May 21st. Stifel Nicolaus cut their price target on shares of Astera Labs from $150.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, Susquehanna initiated coverage on shares of Astera Labs in a report on Friday, May 16th. They issued a "neutral" rating and a $80.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $100.00.

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.