Berkshire Capital Holdings Inc. Makes New $16.07 Million Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Berkshire Capital Holdings Inc. bought a new position in Astera Labs, Inc. (NASDAQ:ALAB) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 121,350 shares of the company’s stock, valued at approximately $16,073,000. Astera Labs accounts for about 5.8% of Berkshire Capital Holdings Inc.’s investment portfolio, making the stock its 6th largest holding. Berkshire Capital Holdings Inc. owned about 0.08% of Astera Labs as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Fred Alger Management LLC increased its stake 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 period. Jennison Associates LLC bought a new stake in Astera Labs during the fourth quarter valued at about $229,991,000. Westfield Capital Management Co. LP bought a new stake in Astera Labs during the third quarter valued at about $52,049,000. The Manufacturers Life Insurance Company boosted its position in Astera Labs by 15,477.8% during the third quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock valued at $46,054,000 after purchasing an additional 873,412 shares in the last quarter. Finally, Spyglass Capital Management LLC bought a new stake in Astera Labs during the third quarter valued at about $38,565,000. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ALAB. Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a research report on Tuesday, January 28th. Raymond James started coverage on Astera Labs in a report on Friday, March 14th. They issued an “outperform” rating and a $82.00 price target for the company. Stifel Nicolaus raised their price target on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Barclays raised their price target on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Finally, Morgan Stanley lowered their price target on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. One equities research 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $112.77.

Astera Labs Price Performance

ALAB opened at $68.89 on Thursday. The firm has a fifty day moving average price of $93.65 and a 200 day moving average price of $88.84. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39. The stock has a market cap of $11.17 billion and a P/E ratio of -39.82.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Monday, February 10th. The company reported $0.10 earnings per share (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 10.40%. Equities analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current year.

Insider Activity at Astera Labs

In related news, Director Michael E. Hurlston sold 2,500 shares of the business’s stock in a transaction 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 owns 91,794 shares of the company’s stock, valued at approximately $8,452,391.52. The trade was a 2.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jitendra Mohan sold 350,680 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the completion of the sale, the chief executive officer now directly owns 2,353,655 shares of the company’s stock, valued at approximately $210,675,659.05. The trade was a 12.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 570,990 shares of company stock worth $50,242,702 in the last three months.

Astera Labs Profile

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.