Prudential PLC Takes $2.01 Million Position in Astera Labs, Inc. $ALAB

Key Points

• Prudential PLC has acquired 33,658 shares of Astera Labs, Inc. valued at approximately $2,008,000 during the first quarter, as reported in their SEC filing.
• Analysts have raised their price targets for Astera Labs significantly, with Evercore ISI setting a new target of $215.00 and Barclays increasing theirs to $155.00, reflecting a consensus average rating of "Moderate Buy."
• Astera Labs reported a substantial revenue growth of 149.5% year-over-year in its latest earnings, with an EPS of $0.44 that exceeded analysts' expectations.

Prudential PLC bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 33,658 shares of the company's stock, valued at approximately $2,008,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ALAB. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Astera Labs by 2,824.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 154,524 shares of the company's stock valued at $20,467,000 after buying an additional 149,240 shares in the last quarter. Aigen Investment Management LP raised its position in Astera Labs by 50.9% in the first quarter. Aigen Investment Management LP now owns 17,920 shares of the company's stock worth $1,069,000 after purchasing an additional 6,045 shares in the last quarter. Pacific Point Advisors LLC raised its position in Astera Labs by 75.0% in the first quarter. Pacific Point Advisors LLC now owns 7,000 shares of the company's stock worth $418,000 after purchasing an additional 3,000 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Astera Labs by 73.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 15,995 shares of the company's stock worth $954,000 after purchasing an additional 6,783 shares during the period. Finally, Taylor Frigon Capital Management LLC acquired a new stake in Astera Labs during the first quarter valued at approximately $1,887,000. Institutional investors and hedge funds own 60.47% of the company's stock.

Insider Buying and Selling at Astera Labs

In other news, Director Stefan A. Dyckerhoff sold 25,000 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $173.42, for a total value of $4,335,500.00. Following the transaction, the director owned 99,154 shares of the company's stock, valued at $17,195,286.68. This represents a 20.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Sanjay Gajendra sold 280,000 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $170.02, for a total value of $47,605,600.00. Following the completion of the transaction, the chief operating officer owned 5,525,545 shares in the company, valued at $939,453,160.90. This represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,176,436 shares of company stock valued at $259,714,061 over the last 90 days. Company insiders own 12.50% of the company's stock.

Astera Labs Stock Down 1.2%

NASDAQ:ALAB traded down $2.24 during trading hours on Monday, hitting $183.61. 2,985,632 shares of the stock were exchanged, compared to its average volume of 4,962,619. The company has a market capitalization of $30.52 billion, a P/E ratio of 327.81, a price-to-earnings-growth ratio of 4.71 and a beta of 1.39. The company's 50 day moving average is $115.49 and its two-hundred day moving average is $90.13. Astera Labs, Inc. has a twelve month low of $36.85 and a twelve month high of $199.47.

Astera Labs (NASDAQ:ALAB - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.11. The company had revenue of $191.93 million during the quarter, compared to the consensus estimate of $172.46 million. Astera Labs had a return on equity of 9.53% and a net margin of 16.54%. The firm's quarterly revenue was up 149.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.13 earnings per share. On average, equities research analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on ALAB shares. Needham & Company LLC boosted their price target on Astera Labs from $100.00 to $170.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Wall Street Zen raised Astera Labs from a "hold" rating to a "buy" rating in a report on Saturday. Barclays reaffirmed an "overweight" rating and issued a $155.00 target price (up previously from $75.00) on shares of Astera Labs in a report on Thursday, August 7th. Zacks Research upgraded shares of Astera Labs to a "strong-buy" rating in a research report on Tuesday, August 12th. Finally, Jefferies Financial Group lifted their price target on shares of Astera Labs from $95.00 to $130.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $129.13.

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.