Naviter Wealth LLC Buys New Position in Astera Labs, Inc. (NASDAQ:ALAB)

Naviter Wealth LLC bought a new stake in Astera Labs, Inc. (NASDAQ:ALAB) during the 4th quarter, Holdings Channel.com reports. The firm bought 2,500 shares of the company’s stock, valued at approximately $331,000.

Other institutional investors have also added to or reduced their stakes in the company. Hollencrest Capital Management bought a new position in shares of Astera Labs during the 3rd quarter worth approximately $26,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of 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 buying an additional 99 shares in the last quarter. Kestra Investment Management LLC bought a new position in shares of Astera Labs during the 4th quarter worth approximately $28,000. Geneos Wealth Management Inc. bought a new position in shares of Astera Labs during the 4th quarter worth approximately $36,000. Finally, Global Retirement Partners LLC boosted its holdings in shares of Astera Labs by 3,155.6% during the 4th quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock worth $39,000 after buying an additional 284 shares in the last quarter. 60.47% of the stock is currently owned by institutional investors.

Insider Activity at Astera Labs

In other news, Director Michael E. Hurlston sold 2,500 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total transaction of $230,200.00. Following the completion of the sale, the director now directly owns 91,794 shares of the company’s stock, valued at $8,452,391.52. This trade represents a 2.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Philip Mazzara sold 50,000 shares of the firm’s stock in a transaction 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 sale, the general counsel now directly owns 191,209 shares of the company’s stock, valued at approximately $16,723,139.14. This represents a 20.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 570,990 shares of company stock valued at $50,242,702.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ALAB. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Stifel Nicolaus increased their price target on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Citigroup started coverage on Astera Labs in a report on Monday, November 18th. They set a “buy” rating and a $120.00 price target on the stock. Morgan Stanley cut their target price on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Finally, Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price on the stock in a report on Tuesday, January 28th. One equities research 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 currently has a consensus rating of “Buy” and an average target price of $115.33.

Astera Labs Trading Up 5.4 %

NASDAQ ALAB opened at $66.92 on Friday. The firm has a market capitalization of $10.85 billion and a P/E ratio of -38.68. The business has a fifty day simple moving average of $104.47 and a 200 day simple moving average of $87.44. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39.

Astera Labs (NASDAQ:ALAB) last released its quarterly earnings results on Monday, February 10th. The company reported $0.10 EPS 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%. As a group, sell-side analysts predict 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.