Comerica Bank Has $2.11 Million Holdings in Astera Labs, Inc. (NASDAQ:ALAB)

Comerica Bank decreased its position in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 94.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,916 shares of the company’s stock after selling 247,337 shares during the period. Comerica Bank’s holdings in Astera Labs were worth $2,108,000 at the end of the most recent quarter.

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

Astera Labs Trading Down 0.6 %

NASDAQ:ALAB opened at $71.20 on Friday. The stock has a market capitalization of $11.74 billion, a P/E ratio of -41.16, a price-to-earnings-growth ratio of 6.18 and a beta of 0.33. Astera Labs, Inc. has a 1 year low of $36.22 and a 1 year high of $147.39. The firm has a 50 day moving average of $64.32 and a 200-day moving average of $91.42.

Astera Labs (NASDAQ:ALAB) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.05. Astera Labs had a negative return on equity of 10.40% and a negative net margin of 21.05%. The company had revenue of $159.44 million for the quarter, compared to analyst estimates of $151.55 million. During the same quarter in the previous year, the firm earned $0.10 earnings per share. The business’s revenue was up 144.1% on a year-over-year basis. As a group, analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ALAB has been the topic of several research analyst reports. Stifel Nicolaus decreased their price target on shares of Astera Labs from $150.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Morgan Stanley cut their price target on Astera Labs from $142.00 to $114.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Citigroup decreased their price objective on Astera Labs from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 target price for the company in a research note on Tuesday, January 28th. Finally, Raymond James began 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. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $100.85.

Insiders Place Their Bets

In other news, Director Michael E. Hurlston sold 2,500 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total transaction of $230,200.00. Following the sale, the director now directly owns 91,794 shares of the company’s stock, valued at $8,452,391.52. This represents a 2.65 % 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, General Counsel Philip Mazzara sold 7,536 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total transaction of $693,839.52. Following the completion of the sale, the general counsel now directly owns 241,209 shares of the company’s stock, valued at approximately $22,208,112.63. This represents a 3.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 633,990 shares of company stock valued at $54,235,012 in the last 90 days.

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.