SlateStone Wealth LLC Boosts Stake in Astera Labs, Inc. (NASDAQ:ALAB)

SlateStone Wealth LLC raised its position in Astera Labs, Inc. (NASDAQ:ALAB) by 15.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,400 shares of the company’s stock after buying an additional 2,400 shares during the period. SlateStone Wealth LLC’s holdings in Astera Labs were worth $2,437,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Astera Labs by 0.7% during the 3rd quarter. FMR LLC now owns 23,504,038 shares of the company’s stock valued at $1,231,377,000 after purchasing an additional 153,491 shares in the last quarter. Fred Alger Management LLC grew its holdings in shares of Astera Labs by 1,361.0% during the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock valued at $147,840,000 after buying an additional 2,628,765 shares during the last quarter. Jennison Associates LLC purchased a new stake in Astera Labs in the fourth quarter worth approximately $229,991,000. JPMorgan Chase & Co. raised its position in Astera Labs by 3.1% in the third quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company’s stock worth $82,164,000 after acquiring an additional 47,569 shares during the period. Finally, Maverick Capital Ltd. raised its position in Astera Labs by 16.0% in the third quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock worth $60,575,000 after acquiring an additional 159,480 shares during the period. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on ALAB. Raymond James started coverage on shares of Astera Labs in a research note on Friday. They issued an “outperform” rating and a $82.00 price objective for the company. Barclays upped their price objective on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Stifel Nicolaus increased their target price on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Citigroup assumed coverage on shares of Astera Labs in a research note on Monday, November 18th. They issued a “buy” rating and a $120.00 target price for the company. Finally, Craig Hallum lifted their price objective on shares of Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $112.77.

Insider Buying and Selling at Astera Labs

In other Astera Labs news, CFO Michael Truett Tate sold 125,800 shares of Astera Labs stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $82.53, for a total value 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. The trade was a 34.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Philip Mazzara sold 50,000 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $87.46, for a total value of $4,373,000.00. Following the sale, the general counsel now owns 191,209 shares of the company’s stock, valued at approximately $16,723,139.14. The trade was a 20.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 570,990 shares of company stock valued at $50,242,702 in the last 90 days.

Astera Labs Stock Up 10.5 %

Shares of ALAB stock opened at $72.18 on Friday. The stock has a 50-day simple moving average of $97.61 and a 200 day simple moving average of $88.31. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The stock has a market capitalization of $11.70 billion and a P/E ratio of -41.72.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data 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, sell-side analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

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.