Natixis Buys New Shares in Astera Labs, Inc. (NASDAQ:ALAB)

Natixis purchased a new position in Astera Labs, Inc. (NASDAQ:ALAB) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 118,947 shares of the company’s stock, valued at approximately $15,755,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ALAB. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Astera Labs by 5.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company’s stock worth $277,000 after acquiring an additional 284 shares during the last quarter. State Street Corp grew its holdings in shares of Astera Labs by 173.1% during the 3rd quarter. State Street Corp now owns 698,467 shares of the company’s stock worth $36,593,000 after purchasing an additional 442,698 shares during the period. Geode Capital Management LLC increased its position in Astera Labs by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 444,887 shares of the company’s stock worth $23,312,000 after purchasing an additional 3,628 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Astera Labs in the third quarter valued at approximately $203,000. Finally, Tidal Investments LLC lifted 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 valued at $2,373,000 after buying an additional 20,388 shares in the last quarter. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Astera Labs Trading Up 0.3 %

Shares of ALAB opened at $58.96 on Friday. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39. The firm has a market cap of $9.56 billion and a price-to-earnings ratio of -34.08. The stock has a 50 day moving average of $69.23 and a 200-day moving average of $91.13.

Astera Labs (NASDAQ:ALAB) last released its earnings results 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%. On average, sell-side analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Stifel Nicolaus lowered their price target on Astera Labs from $150.00 to $100.00 and set a “buy” rating for the company in a report on Thursday. Needham & Company LLC reiterated a “buy” rating and set a $140.00 target price on shares of Astera Labs in a report on Tuesday, February 11th. Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a research report on Tuesday, January 28th. Northland Capmk raised shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Citigroup reduced their target price on shares of Astera Labs from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Astera Labs presently has an average rating of “Buy” and a consensus target price of $109.25.

Insiders Place Their Bets

In other news, CFO Michael Truett Tate sold 125,800 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total transaction of $10,382,274.00. Following the completion of the transaction, the chief financial officer now owns 244,242 shares in the company, valued at approximately $20,157,292.26. This represents a 34.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Manuel Alba sold 63,000 shares of Astera Labs stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the completion of the sale, the director now owns 444,863 shares in the company, valued at approximately $28,190,968.31. This represents a 12.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 633,990 shares of company stock valued at $54,235,012 over the last quarter.

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.