Man Group plc Invests $8.23 Million in Astera Labs, Inc. (NASDAQ:ALAB)

Man Group plc bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 62,147 shares of the company's stock, valued at approximately $8,231,000.

A number of other institutional investors also recently modified their holdings of ALAB. Vanguard Group Inc. raised its position in shares of Astera Labs by 354.9% during the fourth quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company's stock worth $1,220,080,000 after purchasing an additional 7,186,582 shares during the period. Alliancebernstein L.P. raised its position 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 worth $519,506,000 after purchasing an additional 3,760,765 shares during the period. Jennison Associates LLC acquired a new position in shares of Astera Labs during the fourth quarter worth approximately $229,991,000. Lord Abbett & CO. LLC raised its position 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 worth $240,873,000 after purchasing an additional 1,384,498 shares during the period. Finally, Norges Bank acquired a new position in shares of Astera Labs during the fourth quarter worth approximately $179,229,000. 60.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Astera Labs

In other Astera Labs news, 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 value of $4,373,000.00. Following the completion of the transaction, the general counsel now owns 191,209 shares in the company, valued at $16,723,139.14. This trade represents a 20.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jitendra Mohan sold 75,000 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $90.90, for a total value of $6,817,500.00. Following the completion of the transaction, the chief executive officer now owns 562,500 shares of the company's stock, valued at approximately $51,131,250. This represents a 11.76% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 904,480 shares of company stock worth $74,123,601.

Astera Labs Price Performance

Shares of NASDAQ:ALAB opened at $90.29 on Tuesday. The company has a market capitalization of $14.89 billion, a PE ratio of -52.19, a price-to-earnings-growth ratio of 6.18 and a beta of 0.33. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39. The business has a fifty day moving average price of $67.05 and a two-hundred day moving average price of $92.40.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ALAB. Stifel Nicolaus lowered their target price on Astera Labs from $150.00 to $100.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Northland Capmk upgraded Astera Labs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 28th. Morgan Stanley upgraded Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 price target for the company in a report on Monday, May 12th. Needham & Company LLC decreased their price target on Astera Labs from $140.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Finally, 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 report on Tuesday, January 28th. One analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Astera Labs presently has an average rating of "Buy" and an average target price of $98.29.

Astera Labs 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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