Trek Financial LLC Takes Position in Astera Labs, Inc. (NASDAQ:ALAB)

Trek Financial LLC acquired a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 15,320 shares of the company’s stock, valued at approximately $2,029,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Steward Partners Investment Advisory LLC grew its stake 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 acquiring an additional 99 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in Astera Labs during the fourth quarter worth $25,000. Kestra Investment Management LLC bought a new position in Astera Labs in the fourth quarter valued at $28,000. GAMMA Investing LLC increased its stake in Astera Labs by 78.3% in the 4th 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 last quarter. Finally, CIBC Asset Management Inc lifted its position in Astera Labs by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 4,757 shares of the company’s stock worth $630,000 after buying an additional 237 shares in the last quarter. Institutional investors and hedge funds own 60.47% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on ALAB shares. Stifel Nicolaus lifted their target price on Astera Labs from $100.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target on the stock in a research report on Tuesday, January 28th. Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 28th. Craig Hallum boosted their target price on shares of Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $140.00 price target on shares of Astera Labs in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $112.77.

Astera Labs Trading Down 4.9 %

Astera Labs stock opened at $52.94 on Monday. The company has a market capitalization of $8.58 billion and a price-to-earnings ratio of -30.60. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39. The stock’s 50 day moving average is $78.49 and its 200-day moving average is $91.05.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings data 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, equities research analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Astera Labs news, CEO Jitendra Mohan sold 350,680 shares of Astera Labs stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total value of $31,389,366.80. Following the completion of the transaction, the chief executive officer now directly owns 2,353,655 shares of the company’s stock, valued at $210,675,659.05. The trade was a 12.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael E. Hurlston sold 2,500 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total value of $230,200.00. Following the sale, the director now directly owns 91,794 shares in the company, valued at approximately $8,452,391.52. This trade represents a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 633,990 shares of company stock worth $54,235,012 in the last quarter.

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.