China Universal Asset Management Co. Ltd. Sells 22,300 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

China Universal Asset Management Co. Ltd. decreased its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 85.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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.

A number of other large investors have also recently modified their holdings of ALAB. Vanguard Group Inc. boosted its stake 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 valued at $1,220,080,000 after purchasing an additional 7,186,582 shares in the last quarter. Alliancebernstein L.P. boosted its stake 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 worth $519,506,000 after acquiring an additional 3,760,765 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in Astera Labs by 318.9% during the fourth 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. Norges Bank bought a new stake in Astera Labs during the fourth quarter worth about $179,229,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in Astera Labs by 418.3% during the fourth 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 own 60.47% of the company's stock.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, COO Sanjay Gajendra sold 76,373 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $98.39, for a total transaction of $7,514,339.47. Following the completion of the sale, the chief operating officer directly owned 715,000 shares of the company's stock, valued at approximately $70,348,850. This represents a 9.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Manuel Alba sold 30,991 shares of the company's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $91.13, for a total transaction of $2,824,209.83. Following the sale, the director directly owned 418,863 shares of the company's stock, valued at approximately $38,170,985.19. This represents a 6.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,782,720 shares of company stock valued at $160,506,999 in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ALAB shares. Morgan Stanley raised shares of Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 price objective on the stock in a research note on Monday, May 12th. Raymond James Financial started coverage on shares of Astera Labs in a research note on Friday, March 14th. They set an "outperform" rating and a $82.00 price objective on the stock. William Blair began coverage on shares of Astera Labs in a research note on Thursday, May 22nd. They set an "outperform" rating on the stock. Roth Capital set a $100.00 target price on shares of Astera Labs and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Finally, Susquehanna began coverage on shares of Astera Labs in a research note on Friday, May 16th. They issued a "neutral" rating and a $80.00 target price 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. Based on data from MarketBeat.com, Astera Labs currently has an average rating of "Buy" and an average price target of $100.00.

Astera Labs Stock Performance

Shares of ALAB traded down $2.84 during mid-day trading on Thursday, hitting $97.02. 6,411,747 shares of the company traded hands, compared to its average volume of 4,344,346. The stock has a 50-day moving average price of $89.42 and a two-hundred day moving average price of $89.10. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39. The stock has a market cap of $16.00 billion, a price-to-earnings ratio of 441.02, a P/E/G ratio of 4.34 and a beta of 1.18.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings data 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 net margin of 8.44% and a return on equity of 2.57%. The firm had revenue of $159.44 million during the quarter, compared to analysts' expectations of $151.55 million. During the same period in the previous year, the company earned $0.10 earnings per share. The firm's quarterly revenue was up 144.1% on a year-over-year basis. On average, analysts forecast 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.