106,088 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Purchased by Stephens Inc. AR

Stephens Inc. AR acquired a new position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 106,088 shares of the company's stock, valued at approximately $6,330,000. Stephens Inc. AR owned 0.07% of Astera Labs as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ALAB. Evercore ISI raised their price objective on Astera Labs from $87.00 to $104.00 and gave the stock an "outperform" rating in a report on Wednesday, May 21st. Morgan Stanley raised Astera Labs from an "equal weight" rating to an "overweight" rating and set a $99.00 price target on the stock in a report on Monday, May 12th. Roth Capital set a $100.00 price target on Astera Labs and gave the stock a "buy" rating in a report on Wednesday, May 7th. Stifel Nicolaus lowered their price target on Astera Labs from $150.00 to $100.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, Barclays raised their price target on Astera Labs from $70.00 to $75.00 and gave the stock an "overweight" rating in a report on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $100.00.

Astera Labs Stock Performance

Shares of Astera Labs stock traded up $6.01 during trading on Thursday, reaching $97.95. The company had a trading volume of 5,303,519 shares, compared to its average volume of 4,397,782. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The firm's fifty day moving average is $91.66 and its 200-day moving average is $87.45. The company has a market cap of $16.15 billion, a price-to-earnings ratio of 445.25, a price-to-earnings-growth ratio of 4.34 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.05. The business had revenue of $159.44 million during the quarter, compared to analysts' expectations of $151.55 million. Astera Labs had a net margin of 8.44% and a return on equity of 2.57%. The business's revenue was up 144.1% on a year-over-year basis. During the same period last year, the firm posted $0.10 earnings per share. On average, research analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other Astera Labs news, CFO Michael Truett Tate sold 500,000 shares of the stock in a transaction that occurred on 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 owned 618,996 shares in the company, valued at $55,852,009.08. This represents a 44.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sanjay Gajendra sold 165,000 shares of Astera Labs 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 completion of the sale, the insider owned 755,000 shares of the company's stock, valued at $54,178,800. This represents a 17.93% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,965,984 shares of company stock worth $178,631,873.

Astera Labs Profile

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.