Astera Labs, Inc. (NASDAQ:ALAB) Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. grew its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 33,535.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,436 shares of the company’s stock after purchasing an additional 11,402 shares during the quarter. Russell Investments Group Ltd.’s holdings in Astera Labs were worth $1,517,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its position in shares of Astera Labs by 204.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 85,553 shares of the company’s stock valued at $11,331,000 after buying an additional 57,434 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Astera Labs during the fourth quarter worth about $202,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Astera Labs during the fourth quarter worth about $555,000. Arete Wealth Advisors LLC purchased a new stake in shares of Astera Labs in the 4th quarter valued at about $1,053,000. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Astera Labs by 418.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,674,000 shares of the company’s stock valued at $221,721,000 after purchasing an additional 1,351,007 shares during the period. Institutional investors and hedge funds own 60.47% of the company’s stock.

Astera Labs Trading Up 0.3 %

Shares of ALAB opened at $58.96 on Friday. The stock’s 50 day moving average is $69.23 and its two-hundred day moving average is $91.13. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39. The firm has a market capitalization of $9.56 billion and a PE ratio of -34.08.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings results on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. On average, sell-side analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ALAB shares. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price target on shares of Astera Labs in a research report on Tuesday, February 11th. Barclays lifted their target price on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Stifel Nicolaus decreased their price target on shares of Astera Labs from $150.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday. Morgan Stanley lowered their price objective 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. Finally, Northland Capmk raised shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. One analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $109.25.

Insider Activity

In other Astera Labs news, General Counsel Philip Mazzara sold 7,536 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total transaction of $693,839.52. Following the transaction, the general counsel now directly owns 241,209 shares in the company, valued at approximately $22,208,112.63. This represents a 3.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Michael Truett Tate sold 34,474 shares of Astera Labs stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total transaction of $3,174,021.18. Following the sale, the chief financial officer now owns 244,242 shares of the company’s stock, valued at approximately $22,487,360.94. The trade was a 12.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 633,990 shares of company stock worth $54,235,012 in the last 90 days.

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.