Rhumbline Advisers raised its position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 4.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,345 shares of the company's stock after buying an additional 4,396 shares during the quarter. Rhumbline Advisers owned about 0.06% of Astera Labs worth $6,226,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. purchased a new position in Astera Labs in the 4th quarter worth $159,000. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of Astera Labs in the 4th quarter worth $1,285,000. Kingsview Wealth Management LLC lifted its position in Astera Labs by 20.2% during the fourth quarter. Kingsview Wealth Management LLC now owns 7,490 shares of the company's stock valued at $992,000 after purchasing an additional 1,260 shares during the period. Empowered Funds LLC bought a new stake in shares of Astera Labs during the 4th quarter valued at about $60,000. Finally, Legato Capital Management LLC increased its stake in shares of Astera Labs by 68.2% in the 4th quarter. Legato Capital Management LLC now owns 25,612 shares of the company's stock worth $3,392,000 after purchasing an additional 10,386 shares in the last quarter. 60.47% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Astera Labs news, CEO Jitendra Mohan sold 75,000 shares of the firm's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $71.05, for a total transaction of $5,328,750.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Manuel Alba sold 600 shares of Astera Labs stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $100.00, for a total value of $60,000.00. Following the transaction, the director now owns 436,563 shares in the company, valued at approximately $43,656,300. This trade represents a 0.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,495,267 shares of company stock worth $131,012,865 in the last three months.
Astera Labs Trading Down 0.2%
NASDAQ:ALAB traded down $0.20 during trading hours on Thursday, hitting $94.34. The stock had a trading volume of 2,850,075 shares, compared to its average volume of 4,097,605. The company has a market cap of $15.56 billion, a PE ratio of -54.53, a price-to-earnings-growth ratio of 6.18 and a beta of 1.39. The business has a 50 day simple moving average of $76.55 and a two-hundred day simple moving average of $92.51. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39.
Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.05. The company had revenue of $159.44 million for the quarter, compared to analyst estimates of $151.55 million. Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. Astera Labs's quarterly revenue was up 144.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.10 EPS. Research analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.
Analyst Ratings Changes
Several equities analysts have weighed in on ALAB shares. Needham & Company LLC cut 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. Susquehanna started coverage on shares of Astera Labs in a report on Friday, May 16th. They issued a "neutral" rating and a $80.00 target price for the company. Raymond James began coverage on Astera Labs in a research report on Friday, March 14th. They issued an "outperform" rating and a $82.00 target price on the stock. Evercore ISI boosted their price objective on Astera Labs from $87.00 to $104.00 and gave the company an "outperform" rating in a report on Wednesday, May 21st. Finally, Morgan Stanley upgraded Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 target price on the stock in a research report on Monday, May 12th. One investment 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.com, the company currently has an average rating of "Buy" and an average price target of $100.00.
Read Our Latest Analysis on Astera Labs
Astera Labs Company Profile
(
Free Report)
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.
Featured Articles

Before you consider Astera Labs, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Astera Labs wasn't on the list.
While Astera Labs currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.