Great Lakes Advisors LLC Makes New Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Great Lakes Advisors LLC acquired a new stake in Astera Labs, Inc. (NASDAQ:ALAB) during the 4th quarter, Holdings Channel.com reports. The firm acquired 77,161 shares of the company’s stock, valued at approximately $10,220,000.

Several other institutional investors and hedge funds have also made changes to their positions in ALAB. US Bancorp DE purchased a new stake in shares of Astera Labs in the third quarter valued at $46,000. Van ECK Associates Corp purchased a new stake in shares of Astera Labs in the third quarter valued at $462,000. Venturi Wealth Management LLC lifted its position in shares of Astera Labs by 26.3% in the third quarter. Venturi Wealth Management LLC now owns 2,400 shares of the company’s stock valued at $126,000 after acquiring an additional 500 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Astera Labs in the third quarter valued at $751,000. Finally, Sycomore Asset Management lifted its position in shares of Astera Labs by 46.6% in the third quarter. Sycomore Asset Management now owns 53,712 shares of the company’s stock valued at $2,941,000 after acquiring an additional 17,065 shares in the last quarter. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Astera Labs Price Performance

Shares of NASDAQ:ALAB opened at $68.82 on Thursday. The firm has a market capitalization of $11.16 billion and a PE ratio of -39.78. The business has a 50-day moving average of $100.37 and a two-hundred day moving average of $87.96. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. As a group, research analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Insider Activity

In other news, CFO Michael Truett Tate sold 125,800 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $82.53, for a total value of $10,382,274.00. Following the completion of the sale, the chief financial officer now owns 244,242 shares in the company, valued at approximately $20,157,292.26. This trade represents a 34.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Philip Mazzara sold 50,000 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $87.46, for a total value of $4,373,000.00. Following the completion of the sale, the general counsel now owns 191,209 shares of the company’s stock, valued at approximately $16,723,139.14. This trade represents a 20.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 570,990 shares of company stock worth $50,242,702.

Analyst Ratings Changes

ALAB has been the topic of several recent research reports. Barclays upped their price objective on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Morgan Stanley reduced their target price on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Citigroup began coverage on Astera Labs in a research report on Monday, November 18th. They set a “buy” rating and a $120.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and set a $140.00 target price on shares of Astera Labs in a research report on Tuesday, February 11th. Finally, Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research report on Tuesday, January 28th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $115.33.

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.