Astera Labs, Inc. (NASDAQ:ALAB) Shares Sold by US Bancorp DE

US Bancorp DE trimmed its holdings in Astera Labs, Inc. (NASDAQ:ALAB) by 51.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,091 shares of the company’s stock after selling 3,259 shares during the period. US Bancorp DE’s holdings in Astera Labs were worth $184,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Lord Abbett & CO. LLC raised its holdings in shares of Astera Labs by 318.9% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,818,600 shares of the company’s stock valued at $240,873,000 after buying an additional 1,384,498 shares during the period. Driehaus Capital Management LLC raised its holdings in shares of Astera Labs by 16,640.4% during the 4th quarter. Driehaus Capital Management LLC now owns 1,324,330 shares of the company’s stock valued at $175,408,000 after buying an additional 1,316,419 shares during the period. Polar Capital Holdings Plc purchased a new stake in shares of Astera Labs during the 4th quarter valued at about $126,812,000. BNP Paribas Financial Markets raised its holdings in shares of Astera Labs by 4,172.8% during the 4th quarter. BNP Paribas Financial Markets now owns 816,619 shares of the company’s stock valued at $108,161,000 after buying an additional 797,507 shares during the period. Finally, Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Astera Labs during the 4th quarter valued at about $67,334,000. 60.47% of the stock is owned by institutional investors and hedge funds.

Astera Labs Price Performance

NASDAQ:ALAB opened at $185.85 on Friday. Astera Labs, Inc. has a 12-month low of $36.85 and a 12-month high of $199.47. The firm has a market capitalization of $30.89 billion, a P/E ratio of 331.88, a P/E/G ratio of 4.84 and a beta of 1.39. The business has a 50 day simple moving average of $115.49 and a 200 day simple moving average of $90.17.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.11. Astera Labs had a return on equity of 9.53% and a net margin of 16.54%. The company had revenue of $191.93 million during the quarter, compared to analyst estimates of $172.46 million. During the same quarter in the previous year, the firm posted $0.13 EPS. The firm’s quarterly revenue was up 149.5% on a year-over-year basis. Research analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ALAB has been the topic of several analyst reports. Zacks Research upgraded Astera Labs to a “strong-buy” rating in a report on Tuesday. William Blair initiated coverage on Astera Labs in a report on Thursday, May 22nd. They set an “outperform” rating on the stock. Northland Capmk downgraded Astera Labs from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 22nd. Barclays restated an “overweight” rating and set a $155.00 price objective (up from $75.00) on shares of Astera Labs in a report on Thursday, August 7th. Finally, Roth Capital set a $100.00 price objective on Astera Labs and gave the stock a “buy” rating in a report on Wednesday, May 7th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $129.13.

Insiders Place Their Bets

In other Astera Labs news, COO Sanjay Gajendra sold 280,000 shares of the business’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $170.02, for a total transaction of $47,605,600.00. Following the completion of the transaction, the chief operating officer owned 5,525,545 shares in the company, valued at approximately $939,453,160.90. The trade was a 4.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Michael Truett Tate sold 500,000 shares of the company’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $90.23, for a total value of $45,115,000.00. Following the completion of the sale, the chief financial officer owned 618,996 shares of the company’s stock, valued at approximately $55,852,009.08. This trade represents a 44.68% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,329,686 shares of company stock worth $273,512,376. 12.50% of the stock is owned by company insiders.

About Astera Labs

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.