Connor Clark & Lunn Investment Management Ltd. bought a new position in Astera Labs, Inc. (NASDAQ:ALAB – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 161,443 shares of the company’s stock, valued at approximately $77,980,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Glenmede Trust Co. NA boosted its position in Astera Labs by 2.7% during the 1st quarter. Glenmede Trust Co. NA now owns 1,909 shares of the company’s stock valued at $209,000 after buying an additional 51 shares during the period. Keating Financial Advisory Services Inc. purchased a new position in shares of Astera Labs in the second quarter valued at about $25,000. Lido Advisors LLC raised its stake in shares of Astera Labs by 0.5% during the fourth quarter. Lido Advisors LLC now owns 12,297 shares of the company’s stock valued at $2,046,000 after acquiring an additional 57 shares during the last quarter. Goldstein Advisors LLC raised its stake in shares of Astera Labs by 5.8% during the fourth quarter. Goldstein Advisors LLC now owns 1,611 shares of the company’s stock valued at $268,000 after acquiring an additional 88 shares during the last quarter. Finally, Johnson Financial Group Inc. purchased a new stake in shares of Astera Labs during the second quarter worth about $43,000. 60.47% of the stock is currently owned by institutional investors.
Astera Labs Stock Performance
Shares of ALAB opened at $284.97 on Monday. The firm’s 50-day moving average price is $352.70 and its 200-day moving average price is $245.57. The firm has a market capitalization of $49.44 billion, a price-to-earnings ratio of 141.07 and a beta of 3.84. Astera Labs, Inc. has a 1-year low of $97.89 and a 1-year high of $499.48.
Analyst Ratings Changes
Several analysts recently issued reports on the company. Zacks Research raised Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Evercore reaffirmed an “outperform” rating and set a $297.00 price target on shares of Astera Labs in a research report on Tuesday, May 19th. Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $350.00 price objective for the company in a report on Monday, August 17th. UBS Group reiterated a “neutral” rating and issued a $425.00 price objective on shares of Astera Labs in a research report on Wednesday, August 5th. Finally, Roth Capital reissued a “buy” rating and set a $450.00 target price on shares of Astera Labs in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Astera Labs currently has an average rating of “Moderate Buy” and a consensus price target of $333.00.
View Our Latest Analysis on ALAB
Insider Buying and Selling at Astera Labs
In other news, General Counsel Philip Mazzara sold 6,801 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $340.50, for a total value of $2,315,740.50. Following the completion of the transaction, the general counsel owned 96,542 shares of the company’s stock, valued at approximately $32,872,551. This represents a 6.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jitendra Mohan sold 90,630 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $340.35, for a total value of $30,845,920.50. Following the completion of the transaction, the chief executive officer owned 1,266,665 shares of the company’s stock, valued at approximately $431,109,432.75. The trade was a 6.68% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 419,244 shares of company stock worth $163,135,169. Insiders own 10.40% of the company’s stock.
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.
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