Cookson Peirce & Co. Inc. Invests $662,000 in Astera Labs, Inc. (NASDAQ:ALAB)

Cookson Peirce & Co. Inc. bought a new stake in Astera Labs, Inc. (NASDAQ:ALAB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,000 shares of the company’s stock, valued at approximately $662,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Fred Alger Management LLC boosted its holdings 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 in the last quarter. Jennison Associates LLC purchased a new stake in Astera Labs in the 4th quarter valued at $229,991,000. Westfield Capital Management Co. LP purchased a new stake in Astera Labs in the 3rd quarter valued at $52,049,000. The Manufacturers Life Insurance Company raised its position in Astera Labs by 15,477.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock valued at $46,054,000 after buying an additional 873,412 shares during the last quarter. Finally, Spyglass Capital Management LLC purchased a new stake in shares of Astera Labs during the 3rd quarter valued at $38,565,000. 60.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ALAB. Craig Hallum raised their target price on Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Stifel Nicolaus raised their target price on Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 target price on shares of Astera Labs in a research report on Tuesday, February 11th. Finally, Morgan Stanley decreased their target price on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $115.33.

Astera Labs Stock Down 1.5 %

Shares of NASDAQ ALAB opened at $68.57 on Thursday. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39. The business has a 50-day simple moving average of $107.61 and a two-hundred day simple moving average of $87.09. The company has a market cap of $11.12 billion and a P/E ratio of -39.64.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings results on Monday, February 10th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. Equities research analysts anticipate that Astera Labs, Inc. will post 0.34 EPS for the current year.

Insider Activity

In related news, General Counsel Philip Mazzara sold 50,000 shares of the firm’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 transaction, the general counsel now directly owns 191,209 shares of the company’s stock, valued at approximately $16,723,139.14. This trade represents a 20.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jitendra Mohan sold 350,680 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total value of $31,389,366.80. Following the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 570,990 shares of company stock worth $50,242,702.

About Astera Labs

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.