Norges Bank Makes New Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Norges Bank acquired a new stake in Astera Labs, Inc. (NASDAQ:ALAB) during the fourth quarter, Holdings Channel.com reports. The firm acquired 1,353,179 shares of the company’s stock, valued at approximately $179,229,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Astera Labs by 5.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,284 shares of the company’s stock valued at $277,000 after buying an additional 284 shares during the period. Verition Fund Management LLC acquired a new stake in shares of Astera Labs during the 3rd quarter worth approximately $1,524,000. PDT Partners LLC bought a new stake in shares of Astera Labs in the 3rd quarter valued at $1,834,000. Circle Wealth Management LLC acquired a new position in shares of Astera Labs during the 3rd quarter valued at $379,000. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new stake in Astera Labs in the third quarter worth $3,877,000. Institutional investors own 60.47% of the company’s stock.

Astera Labs Stock Performance

NASDAQ:ALAB opened at $60.78 on Monday. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39. The firm has a 50-day moving average price of $85.00 and a two-hundred day moving average price of $90.54. The firm has a market cap of $9.86 billion and a price-to-earnings ratio of -35.13.

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

Insider Buying and Selling

In other Astera Labs news, General Counsel Philip Mazzara sold 7,536 shares of Astera Labs stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total value of $693,839.52. Following the sale, the general counsel now owns 241,209 shares of the company’s stock, valued at approximately $22,208,112.63. The trade was a 3.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jitendra Mohan sold 350,680 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 570,990 shares of company stock valued at $50,242,702.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ALAB. Stifel Nicolaus upped their price objective on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a report on Monday, January 6th. Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Barclays upped their target price on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Northland Securities raised shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a research report on Tuesday, January 28th. Finally, Needham & Company LLC restated a “buy” rating and set a $140.00 price objective on shares of Astera Labs in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $112.77.

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.