Jackson Creek Investment Advisors LLC Makes New $604,000 Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Jackson Creek Investment Advisors LLC bought a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,558 shares of the company’s stock, valued at approximately $604,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. FMR LLC increased its holdings in Astera Labs by 0.7% during the 3rd 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 last quarter. Fred Alger Management LLC raised its holdings in Astera Labs by 1,361.0% in the third quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock valued at $147,840,000 after acquiring an additional 2,628,765 shares in the last quarter. Jennison Associates LLC bought a new position in Astera Labs during the 4th quarter valued at $229,991,000. JPMorgan Chase & Co. grew its holdings in Astera Labs by 3.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,568,314 shares of the company’s stock worth $82,164,000 after acquiring an additional 47,569 shares in the last quarter. Finally, Maverick Capital Ltd. increased its position 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 worth $60,575,000 after purchasing an additional 159,480 shares during the last quarter. 60.47% of the stock is owned by hedge funds and other institutional investors.

Astera Labs Stock Performance

Astera Labs stock opened at $66.92 on Friday. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39. The company has a 50-day simple moving average of $104.47 and a 200-day simple moving average of $87.11. The firm has a market capitalization of $10.85 billion and a P/E ratio of -38.68.

Astera Labs (NASDAQ:ALAB) last posted its earnings results 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%. As a group, sell-side analysts forecast that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Analysts Set New Price Targets

ALAB has been the topic of several research analyst reports. Northland Securities raised shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a research report on Tuesday, January 28th. Stifel Nicolaus lifted their target price on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Needham & Company LLC reiterated a “buy” rating and issued a $140.00 price target on shares of Astera Labs in a report on Tuesday, February 11th. Craig Hallum raised their price objective on Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Finally, Morgan Stanley lowered their target price on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $115.33.

Insider Buying and Selling

In other Astera Labs news, CEO Jitendra Mohan sold 350,680 shares of the business’s stock in a transaction 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 owns 2,353,655 shares in the company, valued at approximately $210,675,659.05. The trade was a 12.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Michael Truett Tate sold 125,800 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 244,242 shares in the company, valued at $20,157,292.26. This trade represents a 34.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 570,990 shares of company stock valued at $50,242,702 in the last three months.

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.