Morse Asset Management Inc Sells 2,973 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Morse Asset Management Inc reduced its stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 10.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,939 shares of the company's stock after selling 2,973 shares during the period. Morse Asset Management Inc's holdings in Astera Labs were worth $1,548,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ALAB. Vanguard Group Inc. increased its holdings in Astera Labs by 354.9% in the 4th quarter. Vanguard Group Inc. now owns 9,211,630 shares of the company's stock valued at $1,220,080,000 after acquiring an additional 7,186,582 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Astera Labs by 2,328.5% in the 4th quarter. Alliancebernstein L.P. now owns 3,922,278 shares of the company's stock worth $519,506,000 after buying an additional 3,760,765 shares during the last quarter. Lord Abbett & CO. LLC increased its holdings in shares of Astera Labs by 318.9% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company's stock worth $240,873,000 after buying an additional 1,384,498 shares during the last quarter. Norges Bank bought a new stake in shares of Astera Labs in the 4th quarter worth about $179,229,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Astera Labs by 418.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,674,000 shares of the company's stock worth $221,721,000 after buying an additional 1,351,007 shares during the last quarter. 60.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Stifel Nicolaus boosted their target price on shares of Astera Labs from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Friday. Citigroup reduced their target price on shares of Astera Labs from $120.00 to $100.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Needham & Company LLC dropped their price target on shares of Astera Labs from $140.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Evercore ISI lifted their price target on shares of Astera Labs from $87.00 to $104.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 21st. Finally, Morgan Stanley raised shares of Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 price target for the company in a research note on Monday, May 12th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $100.71.

Astera Labs Stock Performance

Shares of ALAB opened at $102.13 on Friday. The company has a 50 day moving average price of $92.81 and a 200-day moving average price of $86.66. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The stock has a market capitalization of $16.84 billion, a PE ratio of 464.25, a PEG ratio of 4.79 and a beta of 1.18.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.28 by $0.05. The firm had revenue of $159.44 million during the quarter, compared to analyst estimates of $151.55 million. Astera Labs had a net margin of 8.44% and a return on equity of 2.57%. Astera Labs's revenue was up 144.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.10 EPS. Equities research analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current year.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, insider Sanjay Gajendra sold 165,000 shares of the company's stock in a transaction that occurred 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 owned 755,000 shares in the company, valued at approximately $54,178,800. This represents a 17.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Michael Truett Tate sold 500,000 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $90.23, for a total transaction of $45,115,000.00. Following the transaction, the chief financial officer owned 618,996 shares in the company, valued at $55,852,009.08. The trade was a 44.68% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,965,984 shares of company stock worth $178,631,873.

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.

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