Astera Labs, Inc. (NASDAQ:ALAB) Shares Acquired by Legato Capital Management LLC

Legato Capital Management LLC lifted its stake in Astera Labs, Inc. (NASDAQ:ALAB) by 68.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 25,612 shares of the company’s stock after purchasing an additional 10,386 shares during the quarter. Legato Capital Management LLC’s holdings in Astera Labs were worth $3,392,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ALAB. Fred Alger Management LLC increased its stake in shares of Astera Labs by 1,361.0% in the 3rd quarter. Fred Alger Management LLC now owns 2,821,921 shares of the company’s stock worth $147,840,000 after acquiring an additional 2,628,765 shares during the last quarter. Jennison Associates LLC purchased a new stake in shares of Astera Labs in the fourth quarter valued at about $229,991,000. Westfield Capital Management Co. LP acquired a new stake in Astera Labs during the third quarter worth about $52,049,000. The Manufacturers Life Insurance Company raised its stake in Astera Labs by 15,477.8% during the third quarter. The Manufacturers Life Insurance Company now owns 879,055 shares of the company’s stock worth $46,054,000 after purchasing an additional 873,412 shares during the period. Finally, Spyglass Capital Management LLC purchased a new position in Astera Labs during the third quarter worth about $38,565,000. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Astera Labs Price Performance

Shares of NASDAQ ALAB opened at $92.04 on Wednesday. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The stock’s 50-day simple moving average is $121.90 and its 200-day simple moving average is $82.86.

Astera Labs (NASDAQ:ALAB) last posted its 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 net margin of 30.69% and a negative return on equity of 15.57%. As a group, research analysts predict that Astera Labs, Inc. will post -0.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ALAB has been the subject of a number of recent analyst reports. Northland Securities upgraded 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 report on Tuesday, January 28th. Morgan Stanley dropped 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 report on Tuesday, January 28th. Needham & Company LLC restated a “buy” rating and set a $140.00 price target on shares of Astera Labs in a research report on Tuesday. Stifel Nicolaus boosted their price objective on Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a report on Monday, January 6th. Finally, Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Astera Labs presently has a consensus rating of “Buy” and an average target price of $115.33.

Insider Activity

In other news, Director Manuel Alba sold 11,000 shares of Astera Labs stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $117.50, for a total value of $1,292,500.00. Following the transaction, the director now directly owns 456,863 shares of the company’s stock, valued at $53,681,402.50. The trade was a 2.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Philip Mazzara sold 2,513 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $90.81, for a total transaction of $228,205.53. Following the sale, the general counsel now owns 248,745 shares of the company’s stock, valued at approximately $22,588,533.45. This represents a 1.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 846,452 shares of company stock valued at $86,427,256.

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.