Amalgamated Bank Raises Stake in Astera Labs, Inc. (NASDAQ:ALAB)

Amalgamated Bank grew its holdings in Astera Labs, Inc. (NASDAQ:ALAB) by 382.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 5,891 shares of the company’s stock after buying an additional 4,670 shares during the period. Amalgamated Bank’s holdings in Astera Labs were worth $780,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Craig Hallum boosted their price objective on shares of Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. boosted their price target on shares of Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Barclays raised their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a report on Tuesday, January 28th. Finally, Needham & Company LLC reissued a “buy” rating and set a $140.00 target price on shares of Astera Labs in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Astera Labs has an average rating of “Buy” and an average price target of $115.33.

Insider Buying and Selling at Astera Labs

In related news, CEO Jitendra Mohan sold 350,680 shares of Astera Labs stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 2,353,655 shares in the company, valued at $210,675,659.05. The trade was a 12.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Manuel Alba sold 11,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $117.50, for a total value of $1,292,500.00. Following the completion of the sale, the director now directly owns 456,863 shares in the company, valued at approximately $53,681,402.50. The trade was a 2.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 597,990 shares of company stock valued at $53,420,642 over the last quarter.

Astera Labs Stock Performance

ALAB opened at $67.68 on Tuesday. The company has a market cap of $10.97 billion and a price-to-earnings ratio of -39.12. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39. The business’s fifty day moving average is $110.51 and its two-hundred day moving average is $87.02.

Astera Labs (NASDAQ:ALAB) last released 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, analysts predict that Astera Labs, Inc. will post 0.34 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.