Hoey Investments Inc. Sells 1,987 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Hoey Investments Inc. lessened its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB) by 29.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 4,800 shares of the company’s stock after selling 1,987 shares during the quarter. Hoey Investments Inc.’s holdings in Astera Labs were worth $636,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Steward Partners Investment Advisory LLC lifted its holdings in 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 buying an additional 99 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Astera Labs during the fourth quarter worth about $25,000. Kestra Investment Management LLC acquired a new position in shares of Astera Labs in the fourth quarter worth approximately $28,000. GAMMA Investing LLC boosted its holdings in Astera Labs by 78.3% in the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company’s stock valued at $68,000 after acquiring an additional 224 shares during the last quarter. Finally, CIBC Asset Management Inc increased 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 valued at $630,000 after purchasing an additional 237 shares during the period. Institutional investors own 60.47% of the company’s stock.

Analyst Ratings Changes

ALAB has been the topic of a number of recent analyst reports. Craig Hallum boosted their price target on shares of Astera Labs from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Morgan Stanley cut their price target on shares of Astera Labs from $142.00 to $114.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 28th. Barclays increased their price target on Astera Labs from $87.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Northland Capmk upgraded Astera Labs from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 28th. Finally, 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 report 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $112.77.

Astera Labs Trading Down 3.2 %

NASDAQ ALAB opened at $60.78 on Monday. The company has a fifty day simple moving average of $85.00 and a 200 day simple moving average of $90.54. Astera Labs, Inc. has a 12-month low of $36.22 and a 12-month high of $147.39. The company has a market cap of $9.86 billion and a P/E ratio of -35.13.

Astera Labs (NASDAQ:ALAB) last posted its earnings results on Monday, February 10th. The company reported $0.10 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%. Sell-side analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current year.

Insider Transactions at Astera Labs

In related news, General Counsel Philip Mazzara sold 7,536 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total transaction of $693,839.52. Following the transaction, the general counsel now directly owns 241,209 shares in the company, valued at approximately $22,208,112.63. The trade was a 3.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael E. Hurlston sold 2,500 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $92.08, for a total transaction of $230,200.00. Following the completion of the sale, the director now owns 91,794 shares of the company’s stock, valued at approximately $8,452,391.52. This trade represents a 2.65 % 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 over the last ninety days.

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.