AGF Management Ltd. bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 117,291 shares of the company's stock, valued at approximately $15,535,000. AGF Management Ltd. owned 0.07% of Astera Labs at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the business. Tidal Investments LLC grew its position in Astera Labs by 81.8% during the third quarter. Tidal Investments LLC now owns 45,298 shares of the company's stock worth $2,373,000 after buying an additional 20,388 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Astera Labs during the 3rd quarter worth approximately $530,000. Avior Wealth Management LLC purchased a new position in Astera Labs in the 3rd quarter valued at approximately $361,000. Maverick Capital Ltd. raised its holdings in Astera Labs by 16.0% during the third quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company's stock worth $60,575,000 after purchasing an additional 159,480 shares during the last quarter. Finally, Bank of Hawaii purchased a new stake in Astera Labs during the third quarter worth $1,409,000. 60.47% of the stock is owned by hedge funds and other institutional investors.
Shares of ALAB traded up $2.77 during trading hours on Wednesday, hitting $68.82. The stock had a trading volume of 4,755,348 shares, compared to its average volume of 3,806,540. The company's fifty day simple moving average is $101.65 and its 200 day simple moving average is $88.10. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39. The firm has a market cap of $11.16 billion and a P/E ratio of -39.78.
Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate 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, sell-side analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.
A number of brokerages have recently weighed in on ALAB. Needham & Company LLC restated a "buy" rating and issued a $140.00 price target 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 report on Tuesday, January 28th. Morgan Stanley reduced their price target on shares of Astera Labs from $142.00 to $114.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 28th. Stifel Nicolaus raised their price objective 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, Barclays lifted their price objective on Astera Labs from $87.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, January 17th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $115.33.
Get Our Latest Analysis on ALAB
In related news, General Counsel Philip Mazzara sold 7,536 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total value of $693,839.52. Following the sale, the general counsel now directly owns 241,209 shares of the company's stock, valued at $22,208,112.63. This represents a 3.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Michael E. Hurlston sold 2,500 shares of the 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 transaction, the director now owns 91,794 shares in the company, valued at $8,452,391.52. This trade represents a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 570,990 shares of company stock valued at $50,242,702.
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.
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