Sigma Planning Corp Makes New Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Sigma Planning Corp bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 20,520 shares of the company’s stock, valued at approximately $2,718,000.

A number of other hedge funds also recently added to or reduced their stakes in ALAB. International Assets Investment Management LLC acquired a new stake in Astera Labs during the 3rd quarter worth approximately $34,310,000. Dakota Wealth Management acquired a new stake in Astera Labs during the 3rd quarter worth approximately $2,204,000. Mount Yale Investment Advisors LLC acquired a new stake in Astera Labs during the 3rd quarter worth approximately $594,000. Highland Capital Management LLC acquired a new stake in Astera Labs during the 3rd quarter worth approximately $1,594,000. Finally, Allworth Financial LP lifted its holdings in Astera Labs by 445.5% during the 3rd quarter. Allworth Financial LP now owns 1,091 shares of the company’s stock worth $57,000 after buying an additional 891 shares in the last quarter. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ALAB. Stifel Nicolaus increased their target price on shares of Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Northland Securities upgraded shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective on the stock in a report on Tuesday, January 28th. Craig Hallum raised 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. Needham & Company LLC restated a “buy” rating and issued a $140.00 price objective on shares of Astera Labs in a report on Tuesday, February 11th. Finally, Barclays raised their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, January 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. According to data from MarketBeat.com, Astera Labs currently has a consensus rating of “Buy” and a consensus price target of $115.33.

Astera Labs Price Performance

Shares of NASDAQ:ALAB opened at $85.72 on Friday. The company’s fifty day moving average price is $116.72 and its 200 day moving average price is $85.13. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39. The firm has a market capitalization of $13.90 billion and a P/E ratio of -49.55.

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

Insiders Place Their Bets

In other Astera Labs news, Director Stefan A. Dyckerhoff sold 7,814 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $107.17, for a total transaction of $837,426.38. Following the transaction, the director now directly owns 121,803 shares of the company’s stock, valued at approximately $13,053,627.51. This trade represents a 6.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jitendra Mohan sold 173,366 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $110.12, for a total transaction of $19,091,063.92. Following the transaction, the chief executive officer now directly owns 600,000 shares in the company, valued at $66,072,000. The trade was a 22.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 883,370 shares of company stock valued at $86,643,058.

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.