Exchange Traded Concepts LLC Acquires Shares of 48,384 Astera Labs, Inc. (NASDAQ:ALAB)

Exchange Traded Concepts LLC acquired a new stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 48,384 shares of the company's stock, valued at approximately $2,887,000.

Several other large investors have also bought and sold shares of ALAB. Vanguard Group Inc. increased its stake in shares of Astera Labs by 354.9% in the fourth quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company's stock valued at $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% in 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 last quarter. JPMorgan Chase & Co. increased its position in Astera Labs by 50.5% during the 4th quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company's stock valued at $312,644,000 after purchasing an additional 792,153 shares during the period. Lord Abbett & CO. LLC increased its position in Astera Labs by 318.9% during the 4th 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 period. Finally, Massachusetts Financial Services Co. MA raised its holdings in Astera Labs by 418.3% during the 4th 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 last quarter. 60.47% of the stock is owned by institutional investors.

Insider Transactions at Astera Labs

In other news, Director Manuel Alba sold 63,000 shares of Astera Labs stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the sale, the director now directly owns 444,863 shares in the company, valued at $28,190,968.31. The trade was a 12.40% 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 the stock in a transaction dated 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 now owns 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 have sold 1,601,777 shares of company stock worth $141,082,321 in the last 90 days.

Analysts Set New Price Targets

A number of research firms have recently commented on ALAB. Stifel Nicolaus reduced their price objective on shares of Astera Labs from $150.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Morgan Stanley raised shares of Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 price target on the stock in a research report on Monday, May 12th. Evercore ISI lifted their price objective on Astera Labs from $87.00 to $104.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 21st. Needham & Company LLC cut their target price on Astera Labs from $140.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Finally, William Blair initiated coverage on Astera Labs in a research note on Thursday, May 22nd. They set an "outperform" rating for the company. One analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $100.00.

Astera Labs Trading Down 6.3%

Astera Labs stock traded down $6.32 during trading on Friday, hitting $93.21. 5,924,678 shares of the company were exchanged, compared to its average volume of 4,140,322. The company has a market capitalization of $15.37 billion, a P/E ratio of 426.06, a PEG ratio of 4.68 and a beta of 1.39. The business's 50 day moving average is $80.98 and its 200 day moving average is $92.18. 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 for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. The company had revenue of $159.44 million for the quarter, compared to analyst estimates of $151.55 million. Astera Labs had a net margin of 8.44% and a return on equity of 2.57%. The firm's revenue was up 144.1% on a year-over-year basis. During the same period last year, the firm earned $0.10 earnings per share. Equities analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current 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.