3,588 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC acquired a new stake in Astera Labs, Inc. (NASDAQ:ALAB) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,588 shares of the company’s stock, valued at approximately $475,000.

Several other large investors have also bought and sold shares of the stock. 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. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Astera Labs in the fourth quarter worth approximately $25,000. Kestra Investment Management LLC acquired a new position in shares of Astera Labs in the fourth quarter worth approximately $28,000. CIBC Asset Management Inc boosted its holdings in Astera Labs by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 4,757 shares of the company’s stock valued at $630,000 after acquiring an additional 237 shares during the last quarter. Finally, Global Retirement Partners LLC increased its position in 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 during the period. 60.47% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Manuel Alba sold 63,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the transaction, the director now directly owns 444,863 shares of the company’s stock, valued at $28,190,968.31. This represents a 12.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jitendra Mohan sold 75,000 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $71.05, for a total value of $5,328,750.00. Following the completion of the transaction, the chief executive officer now owns 575,000 shares in the company, valued at approximately $40,853,750. This represents a 11.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,495,267 shares of company stock worth $131,012,865.

Analyst Ratings Changes

Several research analysts have issued reports on ALAB shares. Needham & Company LLC lowered their price target on shares of Astera Labs from $140.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Raymond James began coverage on shares of Astera Labs in a research report on Friday, March 14th. They set an “outperform” rating and a $82.00 price objective for the company. Citigroup lowered 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 note on Monday, April 14th. Morgan Stanley upgraded shares of Astera Labs from an “equal weight” rating to an “overweight” rating and set a $99.00 target price on the stock in a report on Monday, May 12th. Finally, Stifel Nicolaus decreased their price target on Astera Labs from $150.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, April 17th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Astera Labs currently has a consensus rating of “Buy” and a consensus target price of $100.00.

Astera Labs Trading Down 0.2%

NASDAQ:ALAB opened at $94.34 on Friday. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39. The stock has a market capitalization of $15.56 billion, a price-to-earnings ratio of -54.53, a PEG ratio of 6.18 and a beta of 1.39. The firm has a fifty day simple moving average of $77.34 and a two-hundred day simple moving average of $92.42.

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

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.