Janus Henderson Group PLC Acquires New Stake in Astera Labs, Inc. (NASDAQ:ALAB)

Janus Henderson Group PLC bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 18,086 shares of the company's stock, valued at approximately $2,395,000.

Several other large investors have also recently modified their holdings of ALAB. Park Avenue Securities LLC bought a new stake in shares of Astera Labs during the 4th quarter valued at $500,000. Dakota Wealth Management grew its stake in Astera Labs by 2.5% during the fourth quarter. Dakota Wealth Management now owns 43,110 shares of the company's stock valued at $5,710,000 after acquiring an additional 1,049 shares in the last quarter. Wesbanco Bank Inc. purchased a new position in Astera Labs during the fourth quarter valued at approximately $331,000. Berbice Capital Management LLC bought a new stake in Astera Labs during the 4th quarter worth approximately $86,000. Finally, Geneos Wealth Management Inc. purchased a new stake in Astera Labs in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 60.47% of the company's stock.

Astera Labs Price Performance

Astera Labs stock traded up $0.32 during trading hours on Monday, reaching $94.62. The company had a trading volume of 3,223,727 shares, compared to its average volume of 3,988,631. The company has a 50-day moving average price of $69.50 and a 200 day moving average price of $92.49. The firm has a market cap of $15.60 billion, a price-to-earnings ratio of -54.69, a P/E/G ratio of 6.18 and a beta of 0.33. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.28 by $0.05. The firm had revenue of $159.44 million during the quarter, compared to the consensus estimate of $151.55 million. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. The company's quarterly revenue was up 144.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.10 earnings per share. As a group, research analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, General Counsel Philip Mazzara sold 25,000 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $90.13, for a total value of $2,253,250.00. Following the completion of the transaction, the general counsel now directly owns 162,596 shares in the company, valued at approximately $14,654,777.48. This represents a 13.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jitendra Mohan sold 75,000 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $90.90, for a total transaction of $6,817,500.00. Following the transaction, the chief executive officer now owns 562,500 shares in the company, valued at $51,131,250. This represents a 11.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold 852,640 shares of company stock valued at $69,893,694 in the last 90 days.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ALAB shares. Susquehanna started coverage on Astera Labs in a research report on Friday, May 16th. They issued a "neutral" rating and a $80.00 price objective on the stock. Northland Securities upgraded Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price target for the company in a research report on Tuesday, January 28th. Northland Capmk raised Astera Labs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 28th. Morgan Stanley raised 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 research note on Monday, May 12th. Finally, Roth Capital set a $100.00 target price on shares of Astera Labs and gave the company a "buy" rating in a research report on Wednesday, May 7th. One analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price 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.