Public Employees Retirement System of Ohio Sells 399 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Public Employees Retirement System of Ohio reduced its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 4.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,000 shares of the company’s stock after selling 399 shares during the period. Public Employees Retirement System of Ohio’s holdings in Astera Labs were worth $419,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC grew its stake in Astera Labs by 0.7% during the third quarter. FMR LLC now owns 23,504,038 shares of the company’s stock worth $1,231,377,000 after purchasing an additional 153,491 shares during the period. Fred Alger Management LLC grew its position in shares of Astera Labs by 1,361.0% during the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after buying an additional 2,628,765 shares during the period. Maverick Capital Ltd. increased its stake in shares of Astera Labs by 16.0% in the 3rd quarter. Maverick Capital Ltd. now owns 1,156,230 shares of the company’s stock valued at $60,575,000 after acquiring an additional 159,480 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of Astera Labs during the 3rd quarter valued at $52,049,000. Finally, The Manufacturers Life Insurance Company boosted its stake in Astera Labs by 15,477.8% during the third quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock worth $46,054,000 after acquiring an additional 873,412 shares in the last quarter. 60.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Roth Mkm upped their price objective on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price target on shares of Astera Labs in a research note on Wednesday, October 9th. Morgan Stanley raised their price objective on Astera Labs from $94.00 to $142.00 and gave the company an “overweight” rating in a research note on Friday. JPMorgan Chase & Co. upped their target price on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Finally, Barclays lifted their price target on shares of Astera Labs from $70.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $98.67.

Insider Activity at Astera Labs

In other news, CEO Jitendra Mohan sold 47,667 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $70.26, for a total transaction of $3,349,083.42. Following the completion of the transaction, the chief executive officer now owns 728,420 shares in the company, valued at approximately $51,178,789.20. This represents a 6.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Truett Tate sold 16,000 shares of Astera Labs stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $117.84, for a total value of $1,885,440.00. Following the completion of the sale, the chief financial officer now directly owns 1,412,888 shares of the company’s stock, valued at approximately $166,494,721.92. This trade represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,015,119 shares of company stock worth $188,480,349.

Astera Labs Stock Performance

Shares of NASDAQ ALAB opened at $132.17 on Friday. The stock’s 50 day moving average price is $95.41 and its 200-day moving average price is $66.41. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $136.39.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.06. Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. The business had revenue of $113.10 million for the quarter, compared to analysts’ expectations of $97.50 million. The company’s quarterly revenue was up 47.1% on a year-over-year basis. As a group, research analysts anticipate that Astera Labs, Inc. will post -0.45 EPS 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.