Victory Capital Management Inc. Increases Stock Position in Astera Labs, Inc. (NASDAQ:ALAB)

Victory Capital Management Inc. raised its holdings in Astera Labs, Inc. (NASDAQ:ALAB) by 13.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,216 shares of the company’s stock after purchasing an additional 1,826 shares during the quarter. Victory Capital Management Inc.’s holdings in Astera Labs were worth $2,015,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Tidal Investments LLC boosted its holdings in Astera Labs by 81.8% in the 3rd quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock valued at $2,373,000 after purchasing an additional 20,388 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Astera Labs during the 3rd quarter worth approximately $530,000. Avior Wealth Management LLC purchased a new stake in shares of Astera Labs during the 3rd quarter worth approximately $361,000. Maverick Capital Ltd. boosted its stake in shares of Astera Labs by 16.0% during 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 in the last quarter. Finally, Bank of Hawaii purchased a new stake in shares of Astera Labs during the 3rd quarter worth approximately $1,409,000. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Insider Activity

In other Astera Labs news, General Counsel Philip Mazzara sold 50,000 shares of the firm’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 sale, the general counsel now owns 191,209 shares in the company, valued at $16,723,139.14. This trade represents a 20.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Truett Tate sold 125,800 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total value of $10,382,274.00. Following the sale, the chief financial officer now owns 244,242 shares of the company’s stock, valued at approximately $20,157,292.26. This trade represents a 34.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 570,990 shares of company stock worth $50,242,702.

Astera Labs Price Performance

NASDAQ ALAB opened at $72.05 on Tuesday. The firm has a market capitalization of $11.68 billion and a P/E ratio of -41.65. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39. The business’s 50-day simple moving average is $96.18 and its 200-day simple moving average is $88.79.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data on Monday, February 10th. The company reported $0.10 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 research analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Craig Hallum boosted their price target on Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a research note on Tuesday, January 28th. Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Barclays boosted their price target on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Finally, Raymond James began coverage on Astera Labs in a research report on Friday. They set an “outperform” rating and a $82.00 price objective for the company. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Astera Labs currently has a consensus rating of “Buy” and a consensus target price of $112.77.

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.