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

Janus Henderson Group PLC bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 18,086 shares of the company's stock, valued at approximately $2,395,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALAB. Steward Partners Investment Advisory LLC grew its stake in shares of Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock worth $26,000 after purchasing an additional 99 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new stake in Astera Labs in the 4th quarter valued at approximately $25,000. Kestra Investment Management LLC bought a new stake in shares of Astera Labs in the fourth quarter worth $28,000. CIBC Asset Management Inc lifted its position in Astera Labs by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 4,757 shares of the company's stock worth $630,000 after buying an additional 237 shares in the last quarter. Finally, Geneos Wealth Management Inc. acquired a new position in Astera Labs during the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 60.47% of the company's stock.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, insider Sanjay Gajendra sold 165,000 shares of the firm'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 now owns 755,000 shares in the company, valued at $54,178,800. This trade represents a 17.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Philip Mazzara sold 50,000 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $87.46, for a total transaction of $4,373,000.00. Following the completion of the sale, the general counsel now owns 191,209 shares of the company's stock, valued at $16,723,139.14. This trade represents a 20.73% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 774,390 shares of company stock valued at $62,721,629.

Astera Labs Stock Up 4.6%

ALAB opened at $94.46 on Wednesday. The business has a 50 day moving average of $67.63 and a 200-day moving average of $92.42. The stock has a market cap of $15.58 billion, a PE ratio of -54.60, a PEG ratio of 6.18 and a beta of 0.33. 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 data 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. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. The business had revenue of $159.44 million during the quarter, compared to analyst estimates of $151.55 million. During the same period last year, the business earned $0.10 EPS. Astera Labs's revenue was up 144.1% compared to the same quarter last year. Equities analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current year.

Analysts Set New Price Targets

ALAB has been the topic of a number of research analyst reports. Craig Hallum increased their price target on Astera Labs from $105.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Barclays increased their target price on Astera Labs from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Needham & Company LLC lowered their price objective on shares of Astera Labs from $140.00 to $100.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Raymond James initiated coverage on shares of Astera Labs in a report on Friday, March 14th. They issued an "outperform" rating and a $82.00 target price for the company. Finally, Roth Capital set a $100.00 price objective on Astera Labs and gave the company a "buy" rating in a report on Wednesday, May 7th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $98.29.

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.

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