Fmr LLC Decreases Position in Astera Labs, Inc. (NASDAQ:ALAB)

Fmr LLC lowered its stake in Astera Labs, Inc. (NASDAQ:ALAB) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,410,774 shares of the company’s stock after selling 93,264 shares during the quarter. Fmr LLC owned about 14.76% of Astera Labs worth $3,100,757,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of ALAB. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Astera Labs during the fourth quarter valued at approximately $25,000. Steward Partners Investment Advisory LLC lifted its holdings in Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after buying an additional 99 shares in the last quarter. Kestra Investment Management LLC purchased a new position in Astera Labs in the 4th quarter valued at about $28,000. Geneos Wealth Management Inc. acquired a new stake in shares of Astera Labs during the fourth quarter valued at about $36,000. Finally, Global Retirement Partners LLC increased its position in shares of Astera Labs by 3,155.6% during the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock worth $39,000 after acquiring an additional 284 shares during the last quarter. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Astera Labs news, 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 transaction of $4,373,000.00. Following the completion of the transaction, the general counsel now owns 191,209 shares in the company, valued at approximately $16,723,139.14. The trade was a 20.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jitendra Mohan sold 350,680 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total value of $31,389,366.80. Following the completion of the transaction, 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. Over the last 90 days, insiders have sold 633,990 shares of company stock valued at $54,235,012.

Analysts Set New Price Targets

ALAB has been the topic of several analyst reports. Morgan Stanley dropped their price objective on 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 lifted their price target 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. Needham & Company LLC reissued a “buy” rating and set a $140.00 price objective on shares of Astera Labs in a report on Tuesday, February 11th. Barclays boosted their target price on shares of Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, Craig Hallum lifted their price target on Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $112.77.

Astera Labs Price Performance

Shares of ALAB opened at $52.94 on Friday. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39. The stock has a fifty day moving average price of $78.49 and a 200 day moving average price of $90.74. The company has a market cap of $8.58 billion and a P/E ratio of -30.60.

Astera Labs (NASDAQ:ALAB) last released 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 return on equity of 10.40% and a negative net margin of 21.05%. As a group, research 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.