Bank of New York Mellon Boosts Stake in Astera Labs

NEW YORK, NY — Bank of New York Mellon Corp has increased its stake in Astera Labs, Inc. by 1.3% in the first quarter, according to a recent filing with the Securities and Exchange Commission (SEC). The institutional investor now holds 388,132 shares after acquiring an additional 4,935 shares during this period.

The total value of Bank of New York Mellon’s investment in Astera Labs is approximately $23.16 million, representing about 0.24% of the company’s stock. Several other institutional investors have also recently adjusted their positions in Astera Labs, highlighting growing interest in the company.

Vanguard Group Inc. significantly bolstered its stake in Astera Labs by 354.9% in the fourth quarter, now owning 9,211,630 shares, valued at $1.22 billion. Similarly, AllianceBernstein L.P. raised its position by an astounding 2,328.5%, now holding 3,922,278 shares worth $519.51 million. Other notable increases include JPMorgan Chase & Co. and Lord Abbett & Co. LLC, which increased their stakes by 50.5% and 318.9%, respectively.

As of the last report, institutional investors and hedge funds collectively own 60.47% of Astera Labs’ stock. Share prices opened at $97.95 on Friday, with a market cap of about $16.15 billion.

Astera Labs recently released earnings results, reporting $0.33 earnings per share (EPS) for the previous quarter, beating analysts’ expectations of $0.28 EPS. The company saw a significant revenue increase to $159.44 million, up 144.1% from the previous year.

Research analysts have noted several recent ratings changes for Astera Labs. William Blair started coverage with an “outperform” rating, and Evercore ISI raised their price target from $87.00 to $104.00. Meanwhile, Stifel Nicolaus lowered their target from $150.00 to $100.00, maintaining a “buy” rating.

Overall, the consensus rating for Astera Labs remains “Moderate Buy,” with an average target price of $100.00. The company is engaged in designing and manufacturing semiconductor-based connectivity solutions for cloud and AI infrastructure, indicating its growth potential in an expanding market.