Stratos Wealth Partners LTD. Lowers Stake in Astera Labs, Inc. (NASDAQ:ALAB)

Stratos Wealth Partners LTD. trimmed its stake in Astera Labs, Inc. (NASDAQ:ALAB) by 16.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,761 shares of the company’s stock after selling 1,863 shares during the period. Stratos Wealth Partners LTD.’s holdings in Astera Labs were worth $1,293,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Hollencrest Capital Management acquired a new stake in shares of Astera Labs in the 3rd quarter worth $26,000. Geneos Wealth Management Inc. purchased a new stake in Astera Labs in the fourth quarter valued at about $36,000. ORG Wealth Partners LLC purchased a new stake in Astera Labs in the fourth quarter valued at about $42,000. US Bancorp DE acquired a new stake in Astera Labs in the third quarter worth about $46,000. Finally, First Horizon Advisors Inc. purchased a new stake in shares of Astera Labs during the third quarter worth about $49,000. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Astera Labs Stock Performance

Astera Labs stock opened at $101.29 on Monday. The stock’s 50 day simple moving average is $122.39 and its two-hundred day simple moving average is $81.91. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ALAB. Stifel Nicolaus increased their price objective on shares of Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. 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. Craig Hallum boosted their price target on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. raised their price objective on Astera Labs from $70.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Astera Labs presently has a consensus rating of “Buy” and an average price target of $107.42.

Insider Buying and Selling

In other Astera Labs news, CEO Jitendra Mohan sold 171,064 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $103.53, for a total value of $17,710,255.92. Following the completion of the transaction, the chief executive officer now owns 628,895 shares in the company, valued at approximately $65,109,499.35. This represents a 21.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michael Truett Tate sold 16,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $117.84, for a total value of $1,885,440.00. Following the sale, the chief financial officer now owns 1,412,888 shares in the company, valued at $166,494,721.92. This trade represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 846,452 shares of company stock valued at $86,427,256.

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.