Astera Labs, Inc. (NASDAQ:ALAB) Stake Cut by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. decreased its holdings in Astera Labs, Inc. (NASDAQ:ALAB) by 35.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,500 shares of the company’s stock after selling 28,000 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Astera Labs were worth $7,117,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ALAB. Steward Partners Investment Advisory LLC grew its position in Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock valued at $26,000 after purchasing an additional 99 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Astera Labs in the fourth quarter worth $25,000. Kestra Investment Management LLC purchased a new stake in shares of Astera Labs during the fourth quarter worth $28,000. GAMMA Investing LLC boosted its position in 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 purchasing an additional 224 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake in Astera Labs by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 4,757 shares of the company’s stock valued at $630,000 after purchasing an additional 237 shares in the last quarter. 60.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Jitendra Mohan sold 350,680 shares of the business’s 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 transaction, the chief executive officer now directly 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Michael Truett Tate sold 125,800 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $82.53, for a total value of $10,382,274.00. Following the completion of the sale, the chief financial officer now owns 244,242 shares of the company’s stock, valued at $20,157,292.26. This represents a 34.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 570,990 shares of company stock valued at $50,242,702.

Analyst Upgrades and Downgrades

ALAB has been the subject of a number of recent research reports. Morgan Stanley cut their price target on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Northland Securities upgraded shares of 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. Raymond James initiated coverage on shares of Astera Labs in a research note on Friday, March 14th. They set an “outperform” rating and a $82.00 price target on the stock. Barclays lifted their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Finally, Needham & Company LLC reissued a “buy” rating and set a $140.00 target price on shares of Astera Labs in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $112.77.

Astera Labs Stock Down 1.8 %

Shares of NASDAQ ALAB opened at $59.67 on Tuesday. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39. The company has a market cap of $9.68 billion and a P/E ratio of -34.49. The business’s 50 day moving average is $83.53 and its two-hundred day moving average is $90.67.

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%. Sell-side analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Astera Labs Company 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.