Cwm LLC Purchases 2,810 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Key Points

• Cwm LLC increased its ownership in Astera Labs by 297.4% during the first quarter, acquiring an additional 2,810 shares, bringing its total holdings to 3,755 shares valued at $224,000.
• Wall Street analysts have raised their price targets for Astera Labs, with Stifel Nicolaus predicting a target of $110.00 and Jefferies Financial Group increasing it to $130.00, alongside a consensus rating of "Moderate Buy".
• Astera Labs reported a 144.1% increase in quarterly revenue year-over-year, with earnings per share at $0.33, surpassing analysts’ expectations of $0.28.

Cwm LLC boosted its position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 297.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,755 shares of the company's stock after purchasing an additional 2,810 shares during the quarter. Cwm LLC's holdings in Astera Labs were worth $224,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Alliancebernstein L.P. increased its holdings in shares of 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 in the last quarter. Lord Abbett & CO. LLC increased its holdings in shares of Astera Labs by 318.9% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company's stock valued at $240,873,000 after acquiring an additional 1,384,498 shares in the last quarter. Norges Bank bought a new position in shares of Astera Labs during the fourth quarter valued at $179,229,000. Massachusetts Financial Services Co. MA increased its holdings in shares of 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 valued at $221,721,000 after acquiring an additional 1,351,007 shares in the last quarter. Finally, Driehaus Capital Management LLC increased its holdings in shares of Astera Labs by 16,640.4% during the fourth quarter. Driehaus Capital Management LLC now owns 1,324,330 shares of the company's stock valued at $175,408,000 after acquiring an additional 1,316,419 shares in the last quarter. Institutional investors own 60.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ALAB. Stifel Nicolaus boosted their price target on Astera Labs from $100.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Jefferies Financial Group lifted their price objective on Astera Labs from $95.00 to $130.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Evercore ISI lifted their price objective on Astera Labs from $87.00 to $104.00 and gave the stock an "outperform" rating in a report on Wednesday, May 21st. Barclays lifted their price objective on Astera Labs from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Finally, Susquehanna assumed coverage on Astera Labs in a report on Friday, May 16th. They issued a "neutral" rating and a $80.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $102.67.

Astera Labs Stock Up 0.5%

Astera Labs stock opened at $122.23 on Monday. The business has a 50-day simple moving average of $96.02 and a two-hundred day simple moving average of $85.79. The company has a market cap of $20.16 billion, a P/E ratio of 555.62, a P/E/G ratio of 5.74 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 released its quarterly earnings results 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. The business had revenue of $159.44 million during the quarter, compared to the consensus estimate of $151.55 million. Astera Labs had a return on equity of 2.57% and a net margin of 8.44%. The business's quarterly revenue was up 144.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 EPS. Research analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Insider Activity at Astera Labs

In related news, insider Sanjay Gajendra sold 165,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 755,000 shares in the company, valued at approximately $54,178,800. The trade was a 17.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jitendra Mohan sold 128,250 shares of the business's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $90.02, for a total value of $11,545,065.00. Following the transaction, the chief executive officer 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,181,759 shares of company stock worth $200,883,431.

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.

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