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

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

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ALAB. Wealthedge Investment Advisors LLC bought a new stake in shares of Astera Labs in the fourth quarter valued at about $351,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Astera Labs during the fourth quarter worth about $18,209,000. Ameriflex Group Inc. acquired a new stake in Astera Labs in the 4th quarter worth about $144,000. Warm Springs Advisors Inc. bought a new stake in Astera Labs in the 4th quarter valued at about $3,311,000. Finally, GF Fund Management CO. LTD. bought a new stake in Astera Labs in the 4th quarter valued at about $265,000. 60.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Astera Labs news, Director Manuel Alba sold 63,000 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total value of $3,992,310.00. Following the completion of the transaction, the director now directly owns 444,863 shares in the company, valued at approximately $28,190,968.31. This trade represents a 12.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Sanjay Gajendra sold 88,627 shares of the business’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $98.11, for a total value of $8,695,194.97. Following the sale, the chief operating officer now owns 724,257 shares in the company, valued at approximately $71,056,854.27. This trade represents a 10.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,495,267 shares of company stock worth $131,012,865.

Astera Labs Trading Down 0.2%

Shares of NASDAQ ALAB opened at $94.34 on Friday. The company has a market cap of $15.56 billion, a price-to-earnings ratio of -54.53, a PEG ratio of 6.18 and a beta of 1.39. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39. The stock has a 50-day moving average price of $77.34 and a two-hundred day moving average price of $92.42.

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

Analysts Set New Price Targets

Several brokerages have recently commented on ALAB. Morgan Stanley raised 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. William Blair assumed coverage on Astera Labs in a research note on Thursday, May 22nd. They set an “outperform” rating on the stock. Raymond James assumed coverage on Astera Labs in a report on Friday, March 14th. They issued an “outperform” rating and a $82.00 price objective for the company. Stifel Nicolaus cut their target price on Astera Labs from $150.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Finally, Needham & Company LLC decreased their price target on Astera Labs from $140.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $100.00.

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.