Rakuten Securities Inc. Buys 3,291 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Rakuten Securities Inc. raised its position in Astera Labs, Inc. (NASDAQ:ALAB) by 59.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,845 shares of the company’s stock after purchasing an additional 3,291 shares during the quarter. Rakuten Securities Inc.’s holdings in Astera Labs were worth $1,172,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of ALAB. Steward Partners Investment Advisory LLC boosted its stake in shares of Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock valued at $26,000 after purchasing an additional 99 shares in the last quarter. Kestra Investment Management LLC purchased a new position in Astera Labs in the fourth quarter valued at $28,000. Geneos Wealth Management Inc. purchased a new stake in shares of Astera Labs during the fourth quarter worth about $36,000. Global Retirement Partners LLC boosted its position in Astera Labs by 3,155.6% during the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock worth $39,000 after acquiring an additional 284 shares during the last quarter. Finally, ORG Wealth Partners LLC acquired a new position in Astera Labs during the fourth quarter worth about $42,000. 60.47% of the stock is owned by hedge funds and other institutional investors.

Astera Labs Stock Up 7.1 %

Astera Labs stock opened at $66.05 on Wednesday. The stock has a 50-day simple moving average of $101.65 and a 200 day simple moving average of $88.10. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39. The stock has a market capitalization of $10.71 billion and a price-to-earnings ratio of -38.18.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data 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 anticipate that Astera Labs, Inc. will post 0.34 EPS for the current year.

Insider Transactions at Astera Labs

In other news, CEO Jitendra Mohan sold 350,680 shares of the 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 sale, the chief executive officer now directly owns 2,353,655 shares of the company’s stock, valued at approximately $210,675,659.05. This represents a 12.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael E. Hurlston sold 2,500 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total value of $230,200.00. Following the sale, the director now directly owns 91,794 shares in the company, valued at approximately $8,452,391.52. This trade represents a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 570,990 shares of company stock worth $50,242,702.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ALAB. Morgan Stanley reduced their price target on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 28th. Needham & Company LLC restated a “buy” rating and set a $140.00 target price on shares of Astera Labs in a report on Tuesday, February 11th. Stifel Nicolaus lifted their price target on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Citigroup began coverage on shares of Astera Labs in a research note on Monday, November 18th. They issued a “buy” rating and a $120.00 price target for the company. Finally, Northland Capmk upgraded shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. One 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. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $115.33.

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.