Bank of Hawaii Cuts Stock Position in Astera Labs, Inc. (NASDAQ:ALAB)

Bank of Hawaii trimmed its position in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 59.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,872 shares of the company’s stock after selling 16,027 shares during the quarter. Bank of Hawaii’s holdings in Astera Labs were worth $1,440,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ALAB. Steward Partners Investment Advisory LLC increased its stake in Astera Labs by 99.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after buying an additional 99 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Astera Labs during the fourth quarter worth $25,000. Kestra Investment Management LLC acquired a new stake in shares of Astera Labs in the fourth quarter valued at $28,000. GAMMA Investing LLC increased its holdings in Astera Labs by 78.3% during the 4th quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock worth $68,000 after purchasing an additional 224 shares during the period. Finally, CIBC Asset Management Inc grew its position in shares of Astera Labs by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 4,757 shares of the company’s stock worth $630,000 after buying an additional 237 shares in the last quarter. 60.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Craig Hallum increased their price objective on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Barclays boosted their price objective on shares of 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 shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. 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 research report on Tuesday, January 28th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 price objective on shares of Astera Labs in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Astera Labs currently has an average rating of “Buy” and a consensus price target of $112.77.

Astera Labs Stock Performance

Shares of ALAB opened at $64.33 on Thursday. The company has a market capitalization of $10.43 billion and a PE ratio of -37.18. The company’s 50 day moving average price is $75.08 and its 200 day moving average price is $90.78. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39.

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

Insider Buying and Selling at Astera Labs

In other news, CEO Jitendra Mohan sold 350,680 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the sale, the chief executive officer now owns 2,353,655 shares in the company, valued at approximately $210,675,659.05. This represents 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 this link. Also, General Counsel Philip Mazzara sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $87.46, for a total transaction of $4,373,000.00. Following the completion of the transaction, the general counsel now owns 191,209 shares of the company’s stock, valued at $16,723,139.14. This trade represents a 20.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 633,990 shares of company stock valued at $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.