Amundi Grows Stock Position in Astera Labs, Inc. (NASDAQ:ALAB)

Amundi lifted its stake in Astera Labs, Inc. (NASDAQ:ALAB) by 1,643,487.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 509,512 shares of the company’s stock after acquiring an additional 509,481 shares during the period. Amundi owned approximately 0.32% of Astera Labs worth $66,629,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Tidal Investments LLC boosted its holdings in shares of Astera Labs by 81.8% in the third quarter. Tidal Investments LLC now owns 45,298 shares of the company’s stock worth $2,373,000 after acquiring an additional 20,388 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Astera Labs in the third quarter worth $530,000. Avior Wealth Management LLC bought a new position in shares of Astera Labs in the third quarter worth $361,000. Maverick Capital Ltd. boosted its holdings in shares of Astera Labs by 16.0% in the third 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 period. Finally, Bank of Hawaii bought a new position in shares of Astera Labs in the third quarter worth $1,409,000. 60.47% of the stock is owned by institutional investors.

Insider Transactions at Astera Labs

In other news, CFO Michael Truett Tate sold 34,474 shares of Astera Labs stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total value of $3,174,021.18. Following the transaction, the chief financial officer now owns 244,242 shares in the company, valued at approximately $22,487,360.94. The trade was a 12.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Philip Mazzara sold 50,000 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $87.46, for a total value of $4,373,000.00. Following the transaction, the general counsel now owns 191,209 shares in the company, valued at approximately $16,723,139.14. This represents a 20.73 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 570,990 shares of company stock worth $50,242,702.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ALAB shares. Stifel Nicolaus raised their price target on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Citigroup assumed coverage on Astera Labs in a research note on Monday, November 18th. They set a “buy” rating and a $120.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and set a $140.00 price objective on shares of Astera Labs in a research note on Tuesday, February 11th. Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Finally, Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a research note on Tuesday, January 28th. One investment 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 company’s stock. According to data from MarketBeat, Astera Labs has an average rating of “Buy” and an average price target of $115.33.

Astera Labs Stock Up 7.1 %

NASDAQ ALAB opened at $66.05 on Wednesday. The stock’s 50-day simple moving average is $101.65 and its two-hundred day simple moving average is $88.10. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39. The company has a market capitalization of $10.71 billion and a price-to-earnings ratio of -38.18.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Monday, February 10th. The company reported $0.10 earnings per share 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%. On average, equities analysts expect that Astera Labs, Inc. will post 0.34 earnings per share 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.