3,805 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Bought by Ellevest Inc.

Ellevest Inc. purchased a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,805 shares of the company’s stock, valued at approximately $504,000.

Several other institutional investors have also modified their holdings of the business. Proficio Capital Partners LLC raised its holdings in Astera Labs by 1.8% during the 4th quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company’s stock worth $2,864,000 after buying an additional 390 shares during the period. Peregrine Investment Management Inc. bought a new stake in Astera Labs in the 4th quarter valued at approximately $10,701,000. Elemental Capital Partners LLC acquired a new position in Astera Labs during the 4th quarter worth approximately $1,346,000. Renaissance Capital LLC grew its stake in shares of Astera Labs by 381.0% during the 4th quarter. Renaissance Capital LLC now owns 114,276 shares of the company’s stock worth $15,136,000 after acquiring an additional 90,516 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Astera Labs by 50.5% in the fourth quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company’s stock valued at $312,644,000 after purchasing an additional 792,153 shares during the last quarter. Institutional investors own 60.47% of the company’s stock.

Astera Labs Stock Performance

ALAB stock opened at $71.20 on Friday. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39. The company has a market capitalization of $11.74 billion, a PE ratio of -41.16, a price-to-earnings-growth ratio of 6.18 and a beta of 0.33. The company’s 50-day simple moving average is $64.32 and its 200 day simple moving average is $91.42.

Astera Labs (NASDAQ:ALAB) last announced its earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. The firm had revenue of $159.44 million for the quarter, compared to analyst estimates of $151.55 million. During the same quarter in the prior year, the business posted $0.10 EPS. The business’s revenue was up 144.1% compared to the same quarter last year. On average, analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current year.

Insiders Place Their Bets

In other Astera Labs news, 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 sale, the director now directly owns 91,794 shares in the company, valued at $8,452,391.52. This represents a 2.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Philip Mazzara sold 50,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $87.46, for a total transaction of $4,373,000.00. Following the sale, the general counsel now owns 191,209 shares in the company, valued at $16,723,139.14. This represents a 20.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 633,990 shares of company stock worth $54,235,012 in the last 90 days.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ALAB shares. Citigroup decreased their target price on shares of Astera Labs from $120.00 to $100.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a research report on Tuesday, January 28th. Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Morgan Stanley lowered their price target 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. Finally, Barclays raised their target price on shares of Astera Labs from $70.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $100.85.

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.