Peterson Wealth Services Makes New Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Peterson Wealth Services bought a new position in Astera Labs, Inc. (NASDAQ:ALAB) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,121 shares of the company’s stock, valued at approximately $1,208,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Hollencrest Capital Management bought a new position in shares of Astera Labs in the third quarter worth about $26,000. Geneos Wealth Management Inc. bought a new position in shares of Astera Labs in the fourth quarter worth about $36,000. ORG Wealth Partners LLC bought a new position in shares of Astera Labs in the fourth quarter worth about $42,000. US Bancorp DE bought a new position in shares of Astera Labs in the third quarter worth about $46,000. Finally, First Horizon Advisors Inc. bought a new position in shares of Astera Labs in the third quarter worth about $49,000. Institutional investors own 60.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ALAB. Morgan Stanley dropped 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. Roth Mkm raised their price objective on shares of Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Citigroup began coverage on shares of Astera Labs in a report on Monday, November 18th. They issued a “buy” rating and a $120.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Astera Labs from $60.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Astera Labs from $70.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $107.42.

Insider Transactions at Astera Labs

In other news, General Counsel Philip Mazzara sold 2,513 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $90.81, for a total transaction of $228,205.53. Following the completion of the sale, the general counsel now owns 248,745 shares of the company’s stock, valued at $22,588,533.45. This trade represents a 1.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Stefan A. Dyckerhoff sold 197,297 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $90.51, for a total transaction of $17,857,351.47. Following the sale, the director now directly owns 6,148 shares of the company’s stock, valued at approximately $556,455.48. This trade represents a 96.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 846,452 shares of company stock valued at $86,427,256 in the last quarter.

Astera Labs Price Performance

NASDAQ:ALAB opened at $103.29 on Tuesday. The company has a 50 day simple moving average of $122.39 and a two-hundred day simple moving average of $82.15. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39.

Astera Labs (NASDAQ:ALAB) last announced its quarterly earnings data on Monday, February 10th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.16). Astera Labs had a negative return on equity of 15.57% and a negative net margin of 30.69%. As a group, equities research analysts anticipate that Astera Labs, Inc. will post -0.45 earnings per share for the current 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.