BOCHK Asset Management Ltd Purchases Shares of 1,300 Astera Labs, Inc. (NASDAQ:ALAB)

BOCHK Asset Management Ltd purchased a new stake in Astera Labs, Inc. (NASDAQ:ALAB) during the 4th quarter, Holdings Channel reports. The firm purchased 1,300 shares of the company’s stock, valued at approximately $172,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. FMR LLC boosted its holdings in shares of Astera Labs by 0.7% in the third quarter. FMR LLC now owns 23,504,038 shares of the company’s stock valued at $1,231,377,000 after acquiring an additional 153,491 shares in the last quarter. Fred Alger Management LLC boosted its holdings in 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 worth $147,840,000 after buying an additional 2,628,765 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Astera Labs by 3.1% during the third quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company’s stock worth $82,164,000 after buying an additional 47,569 shares in the last quarter. Maverick Capital Ltd. boosted its holdings in Astera Labs by 16.0% during the third quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock worth $60,575,000 after buying an additional 159,480 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of Astera Labs in the 3rd quarter valued at approximately $52,049,000. 60.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ALAB. Needham & Company LLC restated a “buy” rating and issued a $65.00 price target on shares of Astera Labs in a research report on Wednesday, October 9th. Roth Mkm increased their target price on shares of Astera Labs from $80.00 to $105.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Morgan Stanley lowered their target price on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Barclays raised their price target on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Finally, Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $107.42.

Insider Activity at Astera Labs

In related news, CEO Jitendra Mohan sold 171,064 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $103.53, for a total value of $17,710,255.92. Following the completion of the sale, the chief executive officer now owns 628,895 shares of the company’s stock, valued at $65,109,499.35. This trade represents a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Sanjay Gajendra sold 740,000 shares of Astera Labs stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $96.59, for a total transaction of $71,476,600.00. Following the sale, the insider now directly owns 775,000 shares of the company’s stock, valued at $74,857,250. This represents a 48.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,690,452 shares of company stock valued at $167,581,256 over the last quarter.

Astera Labs Stock Performance

Shares of ALAB opened at $89.63 on Wednesday. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39. The company has a 50-day moving average price of $122.75 and a two-hundred day moving average price of $79.52.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.06. The company had revenue of $113.10 million during the quarter, compared to analyst estimates of $97.50 million. Astera Labs had a negative net margin of 30.69% and a negative return on equity of 15.57%. The business’s revenue was up 47.1% on a year-over-year basis. Analysts expect that Astera Labs, Inc. will post -0.45 EPS for the current fiscal year.

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.