Astera Labs, Inc. (NASDAQ:ALAB) Shares Sold by Southeast Asset Advisors LLC

Southeast Asset Advisors LLC lowered its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 5.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,811 shares of the company’s stock after selling 200 shares during the period. Southeast Asset Advisors LLC’s holdings in Astera Labs were worth $505,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ALAB. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Astera Labs during the 4th quarter valued at approximately $25,000. Steward Partners Investment Advisory LLC raised its position in Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company’s stock worth $26,000 after acquiring an additional 99 shares during the period. Kestra Investment Management LLC purchased a new position in Astera Labs during the fourth quarter valued at $28,000. Geneos Wealth Management Inc. acquired a new stake in shares of Astera Labs in the fourth quarter valued at about $36,000. Finally, Global Retirement Partners LLC increased its stake in shares of Astera Labs by 3,155.6% during the fourth quarter. Global Retirement Partners LLC now owns 293 shares of the company’s stock worth $39,000 after purchasing an additional 284 shares in the last quarter. 60.47% of the stock is owned by institutional investors and hedge funds.

Astera Labs Trading Down 4.9 %

Astera Labs stock opened at $52.94 on Monday. The company has a 50-day moving average price of $78.49 and a 200 day moving average price of $91.05. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39. The stock has a market cap of $8.58 billion and a P/E ratio of -30.60.

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 return on equity of 10.40% and a negative net margin of 21.05%. As a group, analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current year.

Insider Buying and Selling at Astera Labs

In related news, Director Manuel Alba sold 63,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $63.37, for a total value of $3,992,310.00. Following the completion of the sale, the director now owns 444,863 shares in the company, valued at approximately $28,190,968.31. This trade represents a 12.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael E. Hurlston sold 2,500 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total value of $230,200.00. Following the transaction, the director now directly owns 91,794 shares in the company, valued at approximately $8,452,391.52. The trade was a 2.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 633,990 shares of company stock worth $54,235,012 over the last quarter.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ALAB shares. Northland Capmk raised shares of Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Barclays lifted their price target on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Stifel Nicolaus boosted their price target on Astera Labs from $100.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Morgan Stanley decreased their price objective 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 raised shares of Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a report on Tuesday, January 28th. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $112.77.

Astera Labs 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.