Nomura Asset Management Co. Ltd. Makes New $50.87 Million Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Nomura Asset Management Co. Ltd. purchased a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 384,056 shares of the company’s stock, valued at approximately $50,868,000. Nomura Asset Management Co. Ltd. owned approximately 0.24% of Astera Labs at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Steward Partners Investment Advisory LLC increased its position in Astera Labs by 99.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after purchasing an additional 99 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Astera Labs during the fourth quarter worth $25,000. Kestra Investment Management LLC acquired a new position in shares of Astera Labs during the fourth quarter worth $28,000. GAMMA Investing LLC lifted its stake in shares of Astera Labs by 78.3% in the 4th quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock valued at $68,000 after acquiring an additional 224 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in shares of Astera Labs by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 4,757 shares of the company’s stock valued at $630,000 after acquiring an additional 237 shares in the last quarter. Institutional investors own 60.47% of the company’s stock.

Astera Labs Stock Performance

Astera Labs stock opened at $60.78 on Friday. The stock’s 50 day moving average price is $85.00 and its two-hundred day moving average price is $89.84. The stock has a market capitalization of $9.86 billion and a price-to-earnings ratio of -35.13. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates 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%. On average, equities research analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current year.

Insider Activity at Astera Labs

In other Astera Labs news, Director Michael E. Hurlston sold 2,500 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total transaction of $230,200.00. Following the completion of the sale, the director now owns 91,794 shares in the company, valued at approximately $8,452,391.52. The trade was a 2.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Philip Mazzara sold 7,536 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total transaction of $693,839.52. Following the completion of the transaction, the general counsel now directly owns 241,209 shares in the company, valued at $22,208,112.63. This trade represents a 3.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 570,990 shares of company stock valued at $50,242,702 in the last three months.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a report on Tuesday, January 28th. Stifel Nicolaus upped their price objective on Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, January 6th. 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. Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Craig Hallum lifted their price target on shares of Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $112.77.

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.