Snowden Capital Advisors LLC Buys New Shares in Astera Labs, Inc. (NASDAQ:ALAB)

Snowden Capital Advisors LLC purchased a new position in Astera Labs, Inc. (NASDAQ:ALAB) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 8,554 shares of the company’s stock, valued at approximately $1,133,000.

Other institutional investors have also bought and sold shares of the company. Proficio Capital Partners LLC boosted its stake in shares of Astera Labs by 1.8% in the fourth quarter. Proficio Capital Partners LLC now owns 21,626 shares of the company’s stock worth $2,864,000 after acquiring an additional 390 shares during the period. Peregrine Investment Management Inc. bought a new position in Astera Labs in the 4th quarter worth approximately $10,701,000. Elemental Capital Partners LLC purchased a new stake in Astera Labs during the 4th quarter valued at approximately $1,346,000. Renaissance Capital LLC raised its position in shares of Astera Labs by 381.0% during the fourth quarter. Renaissance Capital LLC now owns 114,276 shares of the company’s stock valued at $15,136,000 after buying an additional 90,516 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Astera Labs by 50.5% in the fourth quarter. JPMorgan Chase & Co. now owns 2,360,467 shares of the company’s stock worth $312,644,000 after buying an additional 792,153 shares in the last quarter. Hedge funds and other institutional investors own 60.47% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Jitendra Mohan sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $90.90, for a total transaction of $6,817,500.00. Following the transaction, the chief executive officer now directly owns 562,500 shares of the company’s stock, valued at approximately $51,131,250. This trade represents a 11.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sanjay Gajendra sold 165,000 shares of the business’s stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $71.76, for a total value of $11,840,400.00. Following the completion of the sale, the insider now owns 755,000 shares of the company’s stock, valued at $54,178,800. The trade was a 17.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 948,990 shares of company stock worth $78,221,662 over the last quarter.

Astera Labs Price Performance

Astera Labs stock opened at $90.56 on Monday. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39. The company’s 50-day moving average is $66.62 and its 200 day moving average is $92.28. The firm has a market capitalization of $14.93 billion, a P/E ratio of -52.35, a price-to-earnings-growth ratio of 6.18 and a beta of 0.33.

Astera Labs (NASDAQ:ALAB) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $159.44 million for the quarter, compared to the consensus estimate of $151.55 million. During the same period in the prior year, the business posted $0.10 earnings per share. The company’s revenue for the quarter was up 144.1% on a year-over-year basis. Research analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ALAB. Raymond James initiated coverage on shares of Astera Labs in a research note on Friday, March 14th. They set an “outperform” rating and a $82.00 target price for the company. Northland Securities upgraded Astera Labs from a “market perform” rating to an “outperform” rating and set a $120.00 price objective for the company in a research report on Tuesday, January 28th. Citigroup reduced their target price on Astera Labs from $120.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Stifel Nicolaus dropped their price target on Astera Labs from $150.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Finally, Barclays lifted their price objective on Astera Labs from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $98.29.

About Astera Labs

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.