Zurcher Kantonalbank Zurich Cantonalbank Purchases Shares of 10,416 Astera Labs, Inc. (NASDAQ:ALAB)

Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Astera Labs, Inc. (NASDAQ:ALAB) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,416 shares of the company’s stock, valued at approximately $1,380,000.

Other institutional investors have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC grew its position in shares of Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock valued at $26,000 after buying an additional 99 shares during the last quarter. Kestra Investment Management LLC bought a new stake in shares of Astera Labs during the 4th quarter valued at about $28,000. Geneos Wealth Management Inc. bought a new stake in shares of Astera Labs during the 4th quarter valued at about $36,000. Global Retirement Partners LLC boosted its position in shares of Astera Labs by 3,155.6% during the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock valued at $39,000 after purchasing an additional 284 shares in the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in shares of Astera Labs during the 4th quarter valued at about $42,000. Institutional investors own 60.47% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on ALAB shares. Stifel Nicolaus upped their target price on Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Morgan Stanley cut their target price on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Barclays upped their target price on Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Finally, Needham & Company LLC restated a “buy” rating and set a $140.00 target price on shares of Astera Labs in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Astera Labs currently has an average rating of “Buy” and an average price target of $112.77.

Astera Labs Stock Down 4.4 %

Shares of Astera Labs stock opened at $68.89 on Wednesday. The company has a market cap of $11.17 billion and a PE ratio of -39.82. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39. The business has a 50 day moving average price of $94.89 and a 200-day moving average price of $88.98.

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

Insider Transactions at Astera Labs

In other Astera Labs news, General Counsel Philip Mazzara sold 7,536 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total value of $693,839.52. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael E. Hurlston sold 2,500 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total transaction of $230,200.00. Following the transaction, the director now owns 91,794 shares of the company’s stock, valued at approximately $8,452,391.52. The trade was a 2.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 570,990 shares of company stock valued at $50,242,702 over the last ninety days.

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.