New York State Common Retirement Fund Increases Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

New York State Common Retirement Fund lifted its position in Astera Labs, Inc. (NASDAQ:ALAB) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 122,249 shares of the company’s stock after buying an additional 1,919 shares during the period. New York State Common Retirement Fund owned approximately 0.08% of Astera Labs worth $16,192,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of ALAB. Strategic Blueprint LLC boosted its position in Astera Labs by 3.6% in the third quarter. Strategic Blueprint LLC now owns 5,684 shares of the company’s stock worth $298,000 after purchasing an additional 195 shares during the last quarter. Kestra Investment Management LLC purchased a new position in shares of Astera Labs in the fourth quarter worth approximately $28,000. GAMMA Investing LLC grew its position in Astera Labs by 78.3% during the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock valued at $68,000 after buying an additional 224 shares during the period. CIBC Asset Management Inc increased its holdings in Astera Labs by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 4,757 shares of the company’s stock valued at $630,000 after buying an additional 237 shares during the last quarter. Finally, Geneos Wealth Management Inc. bought a new position in Astera Labs in the fourth quarter worth approximately $36,000. Institutional investors own 60.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Northland Securities raised shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a research report on Tuesday, January 28th. Barclays upped their price target on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. raised their price target on Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Finally, Stifel Nicolaus upped their price objective on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 6th. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $115.33.

Insider Transactions at Astera Labs

In related news, General Counsel Philip Mazzara sold 50,000 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $87.46, for a total transaction of $4,373,000.00. Following the transaction, the general counsel now owns 191,209 shares of the company’s stock, valued at approximately $16,723,139.14. This represents a 20.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stefan A. Dyckerhoff sold 7,814 shares of Astera Labs stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $107.17, for a total value of $837,426.38. Following the completion of the transaction, the director now directly owns 121,803 shares of the company’s stock, valued at approximately $13,053,627.51. This represents a 6.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 710,004 shares of company stock worth $67,551,994 over the last ninety days.

Astera Labs Trading Down 3.1 %

Shares of ALAB stock opened at $85.72 on Monday. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39. The company’s 50-day moving average price is $116.72 and its 200-day moving average price is $85.48. The stock has a market cap of $13.90 billion and a price-to-earnings ratio of -49.55.

Astera Labs (NASDAQ:ALAB) last posted its 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 net margin of 21.05% and a negative return on equity of 10.40%. As a group, equities research analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

Astera Labs Company 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.