SBI Securities Co. Ltd. Has $1.27 Million Stake in Astera Labs, Inc. (NASDAQ:ALAB)

SBI Securities Co. Ltd. lifted its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 69.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,264 shares of the company's stock after buying an additional 8,727 shares during the quarter. SBI Securities Co. Ltd.'s holdings in Astera Labs were worth $1,269,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of ALAB. Proficio Capital Partners LLC grew its stake in Astera Labs by 1.8% during the 4th quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company's stock valued at $2,864,000 after purchasing an additional 390 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position 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 worth $20,467,000 after acquiring an additional 149,240 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Astera Labs by 50.5% in the 4th quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company's stock worth $312,644,000 after acquiring an additional 792,153 shares in the last quarter. Pacific Point Advisors LLC grew its position in shares of Astera Labs by 75.0% in the 1st quarter. Pacific Point Advisors LLC now owns 7,000 shares of the company's stock worth $418,000 after acquiring an additional 3,000 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its position in Astera Labs by 73.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 15,995 shares of the company's stock valued at $954,000 after purchasing an additional 6,783 shares during the period. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Astera Labs

In other Astera Labs news, insider Sanjay Gajendra sold 165,000 shares of Astera Labs stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.76, for a total value of $11,840,400.00. Following the sale, the insider owned 755,000 shares of the company's stock, valued at $54,178,800. This trade represents a 17.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michael Truett Tate sold 500,000 shares of Astera Labs stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $90.23, for a total value of $45,115,000.00. Following the completion of the sale, the chief financial officer directly owned 618,996 shares in the company, valued at $55,852,009.08. This represents a 44.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,965,984 shares of company stock worth $178,631,873 in the last three months.

Analysts Set New Price Targets

Several brokerages have weighed in on ALAB. Evercore ISI lifted 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. Roth Capital set a $100.00 price target on Astera Labs and gave the company a "buy" rating in a research report on Wednesday, May 7th. Wall Street Zen downgraded Astera Labs from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Susquehanna started coverage on Astera Labs in a research note on Friday, May 16th. They issued a "neutral" rating and a $80.00 target price on the stock. Finally, William Blair began coverage on Astera Labs in a research note on Thursday, May 22nd. They set an "outperform" rating for the company. Two investment analysts have 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. Based on data from MarketBeat.com, Astera Labs currently has a consensus rating of "Moderate Buy" and a consensus price target of $100.00.

Astera Labs Stock Up 6.5%

ALAB stock traded up $6.01 during midday trading on Thursday, reaching $97.95. 5,303,519 shares of the company's stock traded hands, compared to its average volume of 4,397,785. The company has a 50-day simple moving average of $91.66 and a two-hundred day simple moving average of $87.45. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39. The company has a market cap of $16.15 billion, a price-to-earnings ratio of 445.25, a PEG ratio of 4.34 and a beta of 1.18.

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

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.