Deutsche Bank AG Has $11.70 Million Holdings in Astera Labs, Inc. $ALAB

Key Points

• Deutsche Bank AG significantly increased its stake in Astera Labs, owning 196,103 shares after a 2,448.4% increase in the first quarter, now valued at approximately $11.7 million.
• Astera Labs reported a 149.5% year-over-year increase in quarterly revenue, with earnings per share of $0.44, exceeding analysts' expectations.
• A majority of analysts maintain a positive outlook on Astera Labs with an average target price of $129.13 and a consensus rating of "Moderate Buy".

Deutsche Bank AG boosted its position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 2,448.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 196,103 shares of the company's stock after purchasing an additional 188,408 shares during the quarter. Deutsche Bank AG owned about 0.12% of Astera Labs worth $11,701,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in shares of Astera Labs by 55.7% in the 1st 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. Sound Income Strategies LLC grew its stake in shares of Astera Labs by 34.7% in the 1st 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. Harbour Investments Inc. grew its stake in shares of Astera Labs by 351.7% in the 1st quarter. Harbour Investments Inc. now owns 795 shares of the company's stock worth $47,000 after purchasing an additional 619 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Astera Labs in the first quarter worth about $48,000. Finally, Hazlett Burt & Watson Inc. boosted its holdings in shares of Astera Labs by 1,670.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 885 shares of the company's stock worth $53,000 after buying an additional 835 shares during the period. 60.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Michael Truett Tate sold 500,000 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $90.23, for a total transaction of $45,115,000.00. Following the transaction, the chief financial officer directly owned 618,996 shares in the company, valued at approximately $55,852,009.08. The trade was a 44.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jitendra Mohan sold 152,517 shares of the company's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $170.33, for a total transaction of $25,978,220.61. Following the completion of the transaction, the chief executive officer owned 450,001 shares in the company, valued at approximately $76,648,670.33. This represents a 25.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,176,436 shares of company stock worth $259,714,061. Insiders own 12.50% of the company's stock.

Analyst Ratings Changes

ALAB has been the subject of several research reports. William Blair started coverage on shares of Astera Labs in a report on Thursday, May 22nd. They set an "outperform" rating for the company. Susquehanna raised their price objective on shares of Astera Labs from $80.00 to $125.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Morgan Stanley raised their price objective on shares of Astera Labs from $125.00 to $155.00 and gave the company an "overweight" rating in a research report on Wednesday, August 6th. Evercore ISI lifted their price target on shares of Astera Labs from $104.00 to $215.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Finally, Stifel Nicolaus set a $145.00 price objective on shares of Astera Labs and gave the stock a "buy" rating in a research note on Monday, August 4th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Astera Labs currently has a consensus rating of "Moderate Buy" and an average price target of $129.13.

Astera Labs Stock Down 1.6%

Astera Labs stock traded down $2.89 during midday trading on Monday, hitting $182.96. 2,568,916 shares of the stock were exchanged, compared to its average volume of 4,960,094. The company has a fifty day simple moving average of $115.49 and a two-hundred day simple moving average of $90.13. Astera Labs, Inc. has a 52 week low of $36.85 and a 52 week high of $199.47. The stock has a market capitalization of $30.41 billion, a PE ratio of 327.03, a P/E/G ratio of 4.71 and a beta of 1.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.33 by $0.11. The business had revenue of $191.93 million for the quarter, compared to analyst estimates of $172.46 million. Astera Labs had a net margin of 16.54% and a return on equity of 9.53%. The firm's revenue for the quarter was up 149.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.13 earnings per share. As a group, equities research analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

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.