Hsbc Holdings PLC lifted its holdings in Astera Labs, Inc. (NASDAQ:ALAB – Free Report) by 116.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 181,297 shares of the company’s stock after acquiring an additional 97,576 shares during the period. Hsbc Holdings PLC owned 0.11% of Astera Labs worth $19,808,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in ALAB. Reflection Asset Management bought a new stake in Astera Labs during the 4th quarter valued at approximately $25,000. Smartleaf Asset Management LLC boosted its stake in Astera Labs by 422.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 188 shares of the company’s stock worth $32,000 after purchasing an additional 152 shares during the period. Aventura Private Wealth LLC bought a new position in Astera Labs in the 4th quarter worth approximately $33,000. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in Astera Labs during the 4th quarter valued at approximately $33,000. Finally, Whipplewood Advisors LLC grew its holdings in Astera Labs by 15,950.0% during the 1st quarter. Whipplewood Advisors LLC now owns 321 shares of the company’s stock valued at $35,000 after buying an additional 319 shares in the last quarter. Hedge funds and other institutional investors own 60.47% of the company’s stock.
Astera Labs Price Performance
Shares of ALAB opened at $319.79 on Wednesday. The stock has a market capitalization of $54.82 billion, a price-to-earnings ratio of 216.07, a price-to-earnings-growth ratio of 3.51 and a beta of 3.66. Astera Labs, Inc. has a 1 year low of $97.89 and a 1 year high of $499.48. The business’s 50 day simple moving average is $353.67 and its 200-day simple moving average is $223.00.
Insider Buying and Selling at Astera Labs
In other news, CEO Jitendra Mohan sold 139,951 shares of the business’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $200.16, for a total value of $28,012,592.16. Following the sale, the chief executive officer directly owned 3,929,183 shares in the company, valued at $786,465,269.28. The trade was a 3.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Sanjay Gajendra sold 400,000 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $290.30, for a total transaction of $116,120,000.00. Following the sale, the chief operating officer owned 5,064,213 shares in the company, valued at $1,470,141,033.90. This represents a 7.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,676,845 shares of company stock worth $444,928,806 over the last 90 days. 10.40% of the stock is owned by insiders.
Analysts Set New Price Targets
Several research firms have recently commented on ALAB. Roth Capital reissued a “buy” rating and issued a $275.00 target price on shares of Astera Labs in a report on Wednesday, May 6th. Rothschild & Co Redburn initiated coverage on shares of Astera Labs in a research note on Friday, May 1st. They set a “neutral” rating and a $153.00 target price for the company. Stifel Nicolaus lifted their price target on shares of Astera Labs from $260.00 to $460.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. UBS Group boosted their price target on shares of Astera Labs from $205.00 to $400.00 and gave the stock a “neutral” rating in a research note on Monday, June 29th. Finally, Evercore reissued an “outperform” rating and set a $297.00 price objective on shares of Astera Labs in a report on Tuesday, May 19th. Twelve investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $282.00.
Read Our Latest Stock Analysis on ALAB
Astera Labs Company Profile
Astera Labs is a fabless semiconductor company that develops connectivity solutions for data center and cloud infrastructure. The firm focuses on addressing signal integrity and link management challenges that arise as server architectures incorporate higher-bandwidth processors and accelerators. Its technology is aimed at improving reliability and performance for high-speed interconnects used in servers, storage systems and compute accelerators.
The company’s product portfolio centers on silicon devices and accompanying firmware and software that enhance and manage high-speed links.
Read More
- Five stocks we like better than Astera Labs
- Confidence Is Back, But Earnings Show the Consumer Is Being Picky
- AeroVironment’s Stock Is Down, But Drone Demand Is Taking Off
- 3M’s Redemption Arc: Can Q2 Earnings Change the Narrative?
- 3 Photonics Companies Making Quantum Tech Possible
Want to see what other hedge funds are holding ALAB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Astera Labs, Inc. (NASDAQ:ALAB – Free Report).
Receive News & Ratings for Astera Labs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Astera Labs and related companies with MarketBeat.com's FREE daily email newsletter.
