AGF Management Ltd. Buys Shares of 117,291 Astera Labs, Inc. (NASDAQ:ALAB)

AGF Management Ltd. bought a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 117,291 shares of the company’s stock, valued at approximately $15,535,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC increased its stake in shares of Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after purchasing an additional 99 shares in the last quarter. Kestra Investment Management LLC bought a new position in Astera Labs in the 4th quarter worth $28,000. Geneos Wealth Management Inc. bought a new position in Astera Labs in the 4th quarter worth $36,000. Global Retirement Partners LLC boosted its holdings in Astera Labs by 3,155.6% in the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock worth $39,000 after buying an additional 284 shares during the period. Finally, ORG Wealth Partners LLC bought a new position in Astera Labs in the 4th quarter worth $42,000. 60.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Michael Truett Tate sold 125,800 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total transaction of $10,382,274.00. Following the completion of the transaction, the chief financial officer now owns 244,242 shares of the company’s stock, valued at $20,157,292.26. This trade represents a 34.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 completion of the transaction, the chief executive officer now directly owns 2,353,655 shares of the company’s stock, valued at $210,675,659.05. The trade was a 12.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 570,990 shares of company stock valued at $50,242,702 over the last 90 days.

Astera Labs Trading Up 7.1 %

NASDAQ:ALAB opened at $66.05 on Wednesday. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39. The firm has a fifty day simple moving average of $101.65 and a 200-day simple moving average of $88.10. The company has a market capitalization of $10.71 billion and a P/E ratio of -38.18.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing the consensus estimate 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 analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ALAB. Barclays upped their target price on shares of Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Northland Securities raised shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a report on Tuesday, January 28th. Morgan Stanley reduced 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. Stifel Nicolaus raised their target price on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $140.00 price objective on shares of Astera Labs in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $115.33.

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.