MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Invests $1.54 Million 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) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 11,651 shares of the company's stock, valued at approximately $1,543,000.

Several other institutional investors have also modified their holdings of ALAB. Steward Partners Investment Advisory LLC raised its holdings in Astera Labs by 99.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock worth $26,000 after buying an additional 99 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Astera Labs during the fourth quarter worth $25,000. Kestra Investment Management LLC bought a new stake in shares of Astera Labs during the fourth quarter worth $28,000. CIBC Asset Management Inc raised its holdings in shares of Astera Labs by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 4,757 shares of the company's stock worth $630,000 after acquiring an additional 237 shares during the period. Finally, Geneos Wealth Management Inc. bought a new stake in Astera Labs in the 4th quarter valued at $36,000. Institutional investors own 60.47% of the company's stock.

Insider Activity at Astera Labs

In other Astera Labs news, General Counsel Philip Mazzara sold 3,809 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $90.67, for a total value of $345,362.03. Following the completion of the transaction, the general counsel now directly owns 187,596 shares of the company's stock, valued at $17,009,329.32. This trade represents a 1.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sanjay Gajendra sold 165,000 shares of the business's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $71.76, for a total transaction of $11,840,400.00. Following the transaction, the insider now owns 755,000 shares of the company's stock, valued at $54,178,800. This trade represents a 17.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 726,840 shares of company stock worth $59,511,420.

Astera Labs Trading Down 0.3%

Shares of ALAB traded down $0.26 during trading hours on Wednesday, reaching $97.28. 2,154,289 shares of the stock traded hands, compared to its average volume of 3,980,313. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39. The stock has a fifty day simple moving average of $70.07 and a 200 day simple moving average of $92.53. The company has a market cap of $16.04 billion, a price-to-earnings ratio of -56.29, a PEG ratio of 6.18 and a beta of 0.33.

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. 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 during the quarter, compared to the consensus estimate of $151.55 million. During the same quarter in the prior year, the company earned $0.10 EPS. The firm's quarterly revenue was up 144.1% compared to the same quarter last year. Analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Susquehanna initiated coverage on shares of Astera Labs in a research note on Friday, May 16th. They issued a "neutral" rating and a $80.00 target price for the company. Northland Capmk upgraded shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 28th. Roth Capital set a $100.00 price objective on shares of Astera Labs and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Raymond James initiated coverage on shares of Astera Labs in a research report on Friday, March 14th. They issued an "outperform" rating and a $82.00 target price for the company. Finally, Citigroup lowered their price target on shares of Astera Labs from $120.00 to $100.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. One 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 stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $100.00.

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.