Vanguard Group Inc. Has $1.22 Billion Stock Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

Vanguard Group Inc. boosted its stake in Astera Labs, Inc. (NASDAQ:ALAB) by 354.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 9,211,630 shares of the company’s stock after buying an additional 7,186,582 shares during the period. Vanguard Group Inc. owned approximately 5.81% of Astera Labs worth $1,220,080,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. The Manufacturers Life Insurance Company grew its position in shares of Astera Labs by 15,477.8% in the third quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock valued at $46,054,000 after purchasing an additional 873,412 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in 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 buying an additional 284 shares during the period. Alkeon Capital Management LLC bought a new position in Astera Labs during the 3rd quarter worth $13,098,000. Spyglass Capital Management LLC bought a new stake in shares of Astera Labs in the third quarter valued at about $38,565,000. Finally, Verition Fund Management LLC acquired a new position in shares of Astera Labs in the third quarter valued at about $1,524,000. 60.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Craig Hallum boosted their price objective on shares of Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Barclays increased their price target on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Stifel Nicolaus upped their target price on Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $112.77.

Insider Activity

In other news, CEO Jitendra Mohan sold 350,680 shares of Astera Labs stock in a transaction on Wednesday, February 19th. The shares were 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 owns 2,353,655 shares in the company, valued at approximately $210,675,659.05. The trade was a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Philip Mazzara sold 50,000 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $87.46, for a total value of $4,373,000.00. Following the completion of the sale, the general counsel now owns 191,209 shares of the company’s stock, valued at $16,723,139.14. The trade was a 20.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 570,990 shares of company stock valued at $50,242,702 over the last quarter.

Astera Labs Stock Performance

NASDAQ ALAB opened at $62.79 on Friday. The firm’s fifty day moving average price is $86.45 and its two-hundred day moving average price is $89.68. The stock has a market cap of $10.18 billion and a PE ratio of -36.29. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data 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 return on equity of 10.40% and a negative net margin of 21.05%. As a group, sell-side analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

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.