Charles Schwab Investment Management Inc. Purchases 15,008 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Charles Schwab Investment Management Inc. grew its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 12.8% in the 4th quarter, Holdings Channel.com reports. The fund owned 132,472 shares of the company’s stock after purchasing an additional 15,008 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Astera Labs were worth $17,546,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALAB. FMR LLC grew its position in shares of Astera Labs by 0.7% during the 3rd quarter. FMR LLC now owns 23,504,038 shares of the company’s stock worth $1,231,377,000 after buying an additional 153,491 shares during the period. Fred Alger Management LLC increased its stake in shares of Astera Labs by 1,361.0% in the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after purchasing an additional 2,628,765 shares in the last quarter. Jennison Associates LLC bought a new stake in shares of Astera Labs during the 4th quarter valued at $229,991,000. JPMorgan Chase & Co. increased its holdings in Astera Labs by 3.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company’s stock worth $82,164,000 after acquiring an additional 47,569 shares during the period. Finally, Maverick Capital Ltd. increased its stake in Astera Labs by 16.0% in the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock worth $60,575,000 after acquiring an additional 159,480 shares during the last quarter. 60.47% of the stock is owned by institutional investors and hedge funds.

Astera Labs Trading Up 0.1 %

NASDAQ:ALAB opened at $68.97 on Friday. The company has a market capitalization of $11.18 billion and a P/E ratio of -39.87. The business’s 50-day moving average is $92.41 and its 200 day moving average is $88.70. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39.

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

Insider Buying and Selling

In related news, CFO Michael Truett Tate sold 125,800 shares of Astera Labs stock in a transaction that occurred 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 transaction, the chief financial officer now directly 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 filing with the SEC, which is available through this link. Also, General Counsel Philip Mazzara sold 50,000 shares of the business’s stock in a transaction dated 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 represents a 20.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 570,990 shares of company stock valued at $50,242,702 in the last 90 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Raymond James assumed coverage on Astera Labs in a research report on Friday, March 14th. They set an “outperform” rating and a $82.00 price target on the stock. Needham & Company LLC restated a “buy” rating and issued a $140.00 price objective on shares of Astera Labs in a report on Tuesday, February 11th. Northland Securities upgraded shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a report on Tuesday, January 28th. Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, Barclays increased their price objective on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. One 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. According to data from MarketBeat, Astera Labs presently has a consensus rating of “Buy” and a consensus target price of $112.77.

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.