ING Groep NV Makes New Investment in Astera Labs, Inc. (NASDAQ:ALAB)

ING Groep NV purchased a new position in Astera Labs, Inc. (NASDAQ:ALAB) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 281,100 shares of the company’s stock, valued at approximately $37,232,000. ING Groep NV owned approximately 0.18% of Astera Labs at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALAB. Lecap Asset Management Ltd. bought a new stake in Astera Labs in the third quarter worth about $1,725,000. International Assets Investment Management LLC bought a new stake in Astera Labs in the third quarter worth about $34,310,000. Dakota Wealth Management bought a new stake in Astera Labs in the third quarter worth about $2,204,000. Mount Yale Investment Advisors LLC bought a new stake in Astera Labs in the third quarter worth about $594,000. Finally, Highland Capital Management LLC bought a new stake in Astera Labs in the third quarter worth about $1,594,000. 60.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on ALAB shares. Stifel Nicolaus boosted 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. Citigroup started coverage on Astera Labs in a report on Monday, November 18th. They set a “buy” rating and a $120.00 price objective on the stock. Roth Mkm boosted their price objective on Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price objective on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Craig Hallum boosted their price objective on Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $115.33.

Astera Labs Stock Performance

Shares of NASDAQ ALAB opened at $89.90 on Thursday. The stock has a market cap of $14.26 billion and a price-to-earnings ratio of -51.97. The business has a 50 day simple moving average of $118.33 and a 200 day simple moving average of $84.52. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results on Monday, February 10th. The company reported $0.10 EPS 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 10.76%. On average, analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

Insider Activity at Astera Labs

In related news, CEO Jitendra Mohan sold 173,366 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $110.12, for a total value of $19,091,063.92. Following the completion of the sale, the chief executive officer now owns 600,000 shares of the company’s stock, valued at approximately $66,072,000. The trade was a 22.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Stefan A. Dyckerhoff sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $105.90, for a total value of $3,177,000.00. Following the completion of the sale, the director now directly owns 3,765 shares of the company’s stock, valued at approximately $398,713.50. The trade was a 88.85 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 468,180 shares of company stock valued at $49,959,630.

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.