MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys New Stake in Astera Labs, Inc. (NASDAQ:ALAB)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,651 shares of the company's stock, valued at approximately $1,543,000.

Several other institutional investors and hedge funds 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% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock valued at $26,000 after buying an additional 99 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Astera Labs in the fourth quarter valued at about $25,000. Kestra Investment Management LLC acquired a new stake in shares of Astera Labs in the fourth quarter valued at about $28,000. CIBC Asset Management Inc grew its stake in shares of Astera Labs by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 4,757 shares of the company's stock valued at $630,000 after buying an additional 237 shares in the last quarter. Finally, Geneos Wealth Management Inc. acquired a new stake in shares of Astera Labs in the fourth quarter valued at about $36,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Jitendra Mohan sold 75,000 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $71.05, for a total value of $5,328,750.00. Following the sale, the chief executive officer now owns 575,000 shares of the company's stock, valued at approximately $40,853,750. This trade represents a 11.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Manuel Alba sold 63,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total value of $3,992,310.00. Following the completion of the sale, the director now directly owns 444,863 shares in the company, valued at approximately $28,190,968.31. This trade represents a 12.40% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 852,640 shares of company stock valued at $69,893,694.

Astera Labs Stock Up 3.1%

NASDAQ:ALAB traded up $2.92 during trading hours on Tuesday, reaching $97.54. 3,556,810 shares of the stock were exchanged, compared to its average volume of 3,986,910. The firm has a 50 day simple moving average of $69.50 and a 200-day simple moving average of $92.49. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39. The stock has a market capitalization of $16.09 billion, a P/E ratio of -56.38, a P/E/G ratio of 6.18 and a beta of 0.33.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Stifel Nicolaus lowered their target price on Astera Labs from $150.00 to $100.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Morgan Stanley upgraded Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 target price for the company in a research note on Monday, May 12th. Evercore ISI increased their target price on Astera Labs from $87.00 to $104.00 and gave the company an "outperform" rating in a research note on Wednesday, May 21st. Needham & Company LLC reduced 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, Susquehanna began coverage on Astera Labs in a report on Friday, May 16th. They issued a "neutral" rating and a $80.00 price target for the company. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Astera Labs has a consensus rating of "Buy" and an average price target of $100.00.

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.