Federated Hermes Inc. Makes New $19.21 Million Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Federated Hermes Inc. purchased a new position in Astera Labs, Inc. (NASDAQ:ALAB) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 145,000 shares of the company’s stock, valued at approximately $19,205,000.

Other large investors also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Astera Labs by 5.7% in 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 purchasing an additional 284 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of Astera Labs by 141.2% during the 3rd quarter. Stifel Financial Corp now owns 98,461 shares of the company’s stock worth $5,158,000 after buying an additional 57,638 shares during the period. State Street Corp grew its stake in Astera Labs by 173.1% in the 3rd quarter. State Street Corp now owns 698,467 shares of the company’s stock valued at $36,593,000 after buying an additional 442,698 shares during the last quarter. Wellington Management Group LLP bought a new position in Astera Labs in the 3rd quarter worth $16,031,000. Finally, M&T Bank Corp acquired a new position in Astera Labs during the 3rd quarter worth $322,000. Institutional investors own 60.47% of the company’s stock.

Astera Labs Stock Down 2.6 %

Shares of NASDAQ ALAB opened at $53.71 on Wednesday. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39. The firm’s 50-day simple moving average is $76.47 and its 200 day simple moving average is $90.87. The company has a market cap of $8.71 billion and a price-to-earnings ratio of -31.05.

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%. On average, equities analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Craig Hallum raised their price target on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Northland Securities upgraded 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 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 note on Tuesday, January 28th. Stifel Nicolaus upped their target price on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $112.77.

Insider Buying and Selling at Astera Labs

In related news, Director Michael E. Hurlston sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total transaction of $230,200.00. Following the completion of the sale, the director now directly owns 91,794 shares of the company’s stock, valued at $8,452,391.52. The trade was a 2.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jitendra Mohan sold 350,680 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $210,675,659.05. The trade was a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 633,990 shares of company stock worth $54,235,012.

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.