US Bancorp DE Increases Stake in Astera Labs, Inc. (NASDAQ:ALAB)

US Bancorp DE has significantly increased its position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the fourth quarter, with an impressive growth of 627.4%. According to the most recent filing with the Securities and Exchange Commission, the institutional investor now holds a total of 6,350 shares of Astera Labs after acquiring an additional 5,477 shares within this period. As of the end of the last quarter, US Bancorp DE's stake in Astera Labs is valued at approximately $841,000.

Several other institutional investors have also adjusted their holdings in Astera Labs. Notably, Van ECK Associates Corp made a new acquisition during the third quarter, spending around $462,000. TimesSquare Capital Management LLC saw a massive increase of 158,424.1% in their stake, bringing their ownership to 321,804 shares valued at $16,859,000 after purchasing 321,601 additional shares. Similarly, Lisanti Capital Growth LLC increased its position by 99.2%, now owning 59,990 shares worth $3,143,000 after acquiring 29,875 shares. Venturi Wealth Management LLC grew its stake by 26.3%, owning 2,400 shares valued at $126,000 after an additional purchase of 500 shares. Lastly, Rakuten Securities Inc. entered the market with a new position valued at $291,000 in the third quarter. As of now, hedge funds and other institutional investors collectively own 60.47% of Astera Labs' stock.

Insider Trading Activities

In related news, insider trading has also occurred with Director Michael E. Hurlston selling 2,500 shares on February 18th at an average price of $92.08, totaling $230,200. This transaction has reduced his direct ownership to 91,794 shares. Similarly, General Counsel Philip Mazzara sold 7,536 shares on the same date at an average price of $92.07, collecting around $693,839. Following this transaction, he now possesses 241,209 shares valued at approximately $22,208,112. Insiders have collectively sold about 570,990 shares worth $50,242,702 in the last three months.

Astera Labs Stock Review

On Tuesday, shares of Astera Labs opened at $61.70, reflecting a market capitalization of $10.00 billion with a PE ratio of -35.66. The stock's fifty-day moving average is $102.97, while the two-hundred-day moving average stands at $87.93. Over the past year, Astera Labs has experienced a low of $36.22 and a high of $147.39. In their recent earnings report on February 10th, the company posted an earnings per share (EPS) of $0.10, which fell short of the consensus estimate of $0.26 by $0.16. The company's financial health is indicated by a negative net margin of 21.05% and a negative return on equity of 10.40%. Analysts are projecting that Astera Labs will achieve an EPS of $0.34 for the current fiscal year.

Analyst Ratings Update

Recently, analysts have provided updates on Astera Labs, with Morgan Stanley reducing their price target from $142.00 to $114.00, maintaining an "equal weight" rating. On the other hand, Northland Capital Markets raised its rating from "hold" to "strong buy" on January 28th. Stifel Nicolaus increased their target from $100.00 to $150.00 with a "buy" rating. Northland Securities lifted their rating to "outperform," setting a price target of $120.00. Barclays also updated their target price from $87.00 to $135.00, assigning an "overweight" rating. Currently, data shows that one analyst has a hold rating, eleven have a buy rating, and one has a strong buy rating, leading to an average rating of "buy" and a consensus price target of $115.33.

About Astera Labs, Inc.

Astera Labs, Inc. specializes in designing, manufacturing, and selling semiconductor-based connectivity solutions for cloud and AI infrastructures. Their Intelligent Connectivity Platform consists of a diverse range of products for data, network, and memory connectivity, built on a software-defined architecture that facilitates high-performance cloud and AI operations at scale.

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