CV Advisors LLC Makes New Investment in Astera Labs, Inc. (NASDAQ:ALAB)

CV Advisors LLC bought a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB) during the 4th quarter, Holdings Channel.com reports. The fund bought 2,000 shares of the company’s stock, valued at approximately $265,000. Astera Labs accounts for 0.1% of CV Advisors LLC’s holdings, making the stock its 29th largest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALAB. US Bancorp DE acquired a new position in Astera Labs during the 3rd quarter worth approximately $46,000. Oppenheimer Asset Management Inc. acquired a new position in Astera Labs during the 3rd quarter worth approximately $751,000. CIBC Asset Management Inc acquired a new stake in shares of Astera Labs in the 3rd quarter worth approximately $237,000. LMR Partners LLP grew its holdings in shares of Astera Labs by 175.0% in the 3rd quarter. LMR Partners LLP now owns 275,000 shares of the company’s stock worth $14,407,000 after acquiring an additional 175,000 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Astera Labs in the 3rd quarter worth approximately $1,141,000. Institutional investors and hedge funds own 60.47% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Citigroup assumed coverage on Astera Labs in a report on Monday, November 18th. They issued a “buy” rating and a $120.00 price target on the stock. Needham & Company LLC restated a “buy” rating and issued a $140.00 price target on shares of Astera Labs in a report on Tuesday, February 11th. Northland Capmk raised Astera Labs from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 28th. Northland Securities raised Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a report on Tuesday, January 28th. Finally, 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 research note on Tuesday, January 28th. One equities research 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 stock. According to data from MarketBeat, Astera Labs currently has a consensus rating of “Buy” and a consensus target price of $112.77.

Insider Activity

In related news, General Counsel Philip Mazzara sold 50,000 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $87.46, for a total transaction of $4,373,000.00. Following the completion of the sale, the general counsel now owns 191,209 shares of the company’s stock, valued at approximately $16,723,139.14. This represents a 20.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Truett Tate sold 125,800 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $82.53, for a total transaction of $10,382,274.00. Following the sale, the chief financial officer now directly owns 244,242 shares of the company’s stock, valued at approximately $20,157,292.26. This trade represents a 34.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 570,990 shares of company stock valued at $50,242,702 in the last 90 days.

Astera Labs Price Performance

NASDAQ ALAB opened at $72.18 on Friday. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39. The company has a 50-day moving average of $97.61 and a 200-day moving average of $88.31. The company has a market cap of $11.70 billion and a P/E ratio of -41.72.

Astera Labs (NASDAQ:ALAB) last posted 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 anticipate that Astera Labs, Inc. will post 0.34 EPS for the current year.

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.