Astera Labs, Inc. (NASDAQ:ALAB) Shares Bought by Alliancebernstein L.P.

Alliancebernstein L.P. grew its position in Astera Labs, Inc. (NASDAQ:ALAB) by 2,328.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,922,278 shares of the company’s stock after acquiring an additional 3,760,765 shares during the quarter. Alliancebernstein L.P.’s holdings in Astera Labs were worth $519,506,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Steward Partners Investment Advisory LLC boosted its stake 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 during the period. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Astera Labs during the fourth quarter worth about $25,000. Kestra Investment Management LLC purchased a new position in shares of Astera Labs during the fourth quarter worth about $28,000. GAMMA Investing LLC increased its position in 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 period. Finally, CIBC Asset Management Inc increased its position in Astera Labs by 5.2% in 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 during the period. 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 $60.78 on Monday. The firm has a market capitalization of $9.86 billion and a price-to-earnings ratio of -35.13. The business’s 50 day simple moving average is $85.00 and its 200-day simple moving average is $90.54. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39.

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 return on equity of 10.40% and a negative net margin of 21.05%. On average, equities analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

ALAB has been the topic of several analyst reports. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Barclays lifted their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Raymond James assumed coverage on shares of Astera Labs in a research report on Friday, March 14th. They set an “outperform” rating and a $82.00 price objective for the company. Stifel Nicolaus boosted their price target on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Craig Hallum raised their price objective on shares of Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Astera Labs presently has a consensus rating of “Buy” and a consensus target price of $112.77.

Insider Activity at Astera Labs

In related news, General Counsel Philip Mazzara sold 7,536 shares of Astera Labs stock in a transaction that occurred on Tuesday, February 18th. The stock was 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. The trade was a 3.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael E. Hurlston sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total value of $230,200.00. Following the completion of the sale, the director now directly 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 disclosure for this sale can be found here. In the last three months, insiders have sold 570,990 shares of company stock valued at $50,242,702.

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.