JPMorgan Chase & Co. Has $312.64 Million Stock Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

JPMorgan Chase & Co. lifted its stake in Astera Labs, Inc. (NASDAQ:ALAB) by 50.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,360,467 shares of the company’s stock after acquiring an additional 792,153 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.49% of Astera Labs worth $312,644,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Astera Labs by 5.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company’s stock worth $277,000 after purchasing an additional 284 shares during the last quarter. Verition Fund Management LLC acquired a new position in Astera Labs during the third quarter worth $1,524,000. PDT Partners LLC bought a new stake in Astera Labs during the third quarter worth $1,834,000. Circle Wealth Management LLC acquired a new stake in Astera Labs in the third quarter valued at $379,000. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Astera Labs in the 3rd quarter valued at about $3,877,000. Institutional investors own 60.47% of the company’s stock.

Insider Activity at Astera Labs

In related news, Director Michael E. Hurlston sold 2,500 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total transaction of $230,200.00. Following the completion of the sale, the director now owns 91,794 shares of the company’s stock, valued at $8,452,391.52. This represents a 2.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jitendra Mohan sold 350,680 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the sale, the chief executive officer now owns 2,353,655 shares in the company, valued at $210,675,659.05. The trade was a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 570,990 shares of company stock worth $50,242,702.

Astera Labs Stock Performance

Shares of Astera Labs stock opened at $60.78 on Monday. The firm has a 50-day moving average of $85.00 and a 200-day moving average of $90.54. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39. The stock has a market cap of $9.86 billion and a PE ratio of -35.13.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Equities research analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ALAB shares. Craig Hallum raised their target price on shares of Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Morgan Stanley cut their price objective on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a research note on Tuesday, January 28th. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price target on shares of Astera Labs in a report on Tuesday, February 11th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $112.77.

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.