Northern Trust Corp Raises Stock Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

Northern Trust Corp boosted its position in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 257.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 296,120 shares of the company’s stock after buying an additional 213,343 shares during the quarter. Northern Trust Corp owned approximately 0.19% of Astera Labs worth $39,221,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in shares of Astera Labs by 78.3% during the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock valued at $68,000 after acquiring an additional 224 shares during the last quarter. ORG Wealth Partners LLC bought a new position in Astera Labs during the 4th quarter valued at approximately $42,000. Harbour Capital Advisors LLC purchased a new stake in Astera Labs in the 4th quarter worth approximately $439,000. Gunderson Capital Management Inc. purchased a new position in shares of Astera Labs during the fourth quarter valued at approximately $4,876,000. Finally, GSG Advisors LLC purchased a new position in shares of Astera Labs during the fourth quarter valued at approximately $1,202,000. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Astera Labs Stock Performance

Shares of NASDAQ ALAB opened at $71.20 on Friday. The company has a market cap of $11.74 billion, a PE ratio of -41.16, a P/E/G ratio of 6.18 and a beta of 0.33. The firm’s 50 day moving average price is $64.32 and its 200-day moving average price is $91.42. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. The business had revenue of $159.44 million during the quarter, compared to analyst estimates of $151.55 million. Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. The company’s quarterly revenue was up 144.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.10 EPS. On average, analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ALAB has been the topic of several recent analyst reports. Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Morgan Stanley reduced their price target 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, January 28th. Raymond James started coverage on shares of Astera Labs in a report on Friday, March 14th. They issued an “outperform” rating and a $82.00 price objective for the company. Barclays upped their target price on Astera Labs from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Craig Hallum lifted their price target on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Astera Labs presently has a consensus rating of “Buy” and an average price target of $100.85.

Insider Buying and Selling at Astera Labs

In other news, Director Michael E. Hurlston sold 2,500 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total transaction of $230,200.00. Following the transaction, the director now directly owns 91,794 shares of the company’s stock, valued at $8,452,391.52. This represents a 2.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Philip Mazzara sold 7,536 shares of Astera Labs stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total value of $693,839.52. Following the completion of the sale, the general counsel now directly owns 241,209 shares of the company’s stock, valued at $22,208,112.63. The trade was a 3.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 633,990 shares of company stock worth $54,235,012.

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.