NewEdge Advisors LLC Purchases Shares of 475 Astera Labs, Inc. (NASDAQ:ALAB)

NewEdge Advisors LLC acquired a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 475 shares of the company’s stock, valued at approximately $63,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC boosted its position in Astera Labs by 99.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after acquiring an additional 99 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Astera Labs during the fourth quarter valued at about $25,000. Kestra Investment Management LLC acquired a new stake in Astera Labs in the fourth quarter worth about $28,000. GAMMA Investing LLC grew its position in Astera Labs by 78.3% in the 4th quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock valued at $68,000 after buying an additional 224 shares in the last quarter. Finally, CIBC Asset Management Inc increased its stake in Astera Labs by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 4,757 shares of the company’s stock valued at $630,000 after buying an additional 237 shares during the period. 60.47% of the stock is owned by institutional investors.

Insider Transactions at Astera Labs

In other Astera Labs news, General Counsel Philip Mazzara sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $87.46, for a total value of $4,373,000.00. Following the transaction, the general counsel now owns 191,209 shares in the company, valued at approximately $16,723,139.14. This represents a 20.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Truett Tate sold 34,474 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total transaction of $3,174,021.18. Following the transaction, the chief financial officer now owns 244,242 shares in the company, valued at approximately $22,487,360.94. This represents a 12.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 633,990 shares of company stock valued at $54,235,012 over the last three months.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Craig Hallum increased their price objective on shares of Astera Labs from $105.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Citigroup lowered their price target on Astera Labs from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Barclays boosted their price objective on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 target price on shares of Astera Labs in a report on Tuesday, February 11th. Finally, Stifel Nicolaus cut their price target on shares of Astera Labs from $150.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, April 17th. One investment 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $109.25.

Astera Labs Stock Performance

NASDAQ ALAB opened at $71.27 on Friday. The firm’s 50 day moving average price is $64.57 and its two-hundred day moving average price is $91.43. Astera Labs, Inc. has a twelve month low of $36.22 and a twelve month high of $147.39. The stock has a market cap of $11.75 billion, a price-to-earnings ratio of -41.20, a PEG ratio of 6.18 and a beta of 0.32.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings results on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.16). Astera Labs had a negative net margin of 21.05% and a negative return on equity of 10.40%. On average, research analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

About Astera Labs

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.