Toronado Partners LLC Has $15.47 Million Stake in Astera Labs, Inc. (NASDAQ:ALAB)

Toronado Partners LLC decreased its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 61.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 116,811 shares of the company’s stock after selling 183,189 shares during the period. Astera Labs comprises 9.8% of Toronado Partners LLC’s portfolio, making the stock its 5th largest holding. Toronado Partners LLC’s holdings in Astera Labs were worth $15,472,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC boosted its position in Astera Labs by 99.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after purchasing an additional 99 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Astera Labs in the fourth quarter worth approximately $25,000. Kestra Investment Management LLC bought a new stake in Astera Labs during the fourth quarter valued at approximately $28,000. GAMMA Investing LLC grew its position in Astera Labs by 78.3% during the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock valued at $68,000 after buying an additional 224 shares during the period. Finally, CIBC Asset Management Inc increased its holdings in Astera Labs by 5.2% during the fourth 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 last quarter. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Insider Buying and Selling

In related news, Director Manuel Alba sold 63,000 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the sale, the director now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael Truett Tate sold 125,800 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $82.53, for a total transaction of $10,382,274.00. Following the transaction, the chief financial officer now owns 244,242 shares of the company’s stock, valued at $20,157,292.26. This trade represents a 34.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 633,990 shares of company stock worth $54,235,012.

Astera Labs Price Performance

Astera Labs stock opened at $60.13 on Friday. The firm’s 50 day moving average price is $73.46 and its 200-day moving average price is $90.89. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39. The stock has a market cap of $9.75 billion and a P/E ratio of -34.76.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings results on Monday, February 10th. The company reported $0.10 earnings per share (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, equities analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current year.

Analyst Upgrades and Downgrades

ALAB has been the topic of several analyst reports. Raymond James assumed coverage on shares of Astera Labs in a research note on Friday, March 14th. They set an “outperform” rating and a $82.00 price target on the stock. 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 research report on Tuesday, January 28th. Needham & Company LLC restated a “buy” rating and issued a $140.00 price target on shares of Astera Labs in a research report on Tuesday, February 11th. Stifel Nicolaus lifted their price objective on Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, Morgan Stanley reduced their target price on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $112.77.

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.