Virtu Financial LLC Purchases New Position in Astera Labs, Inc. (NASDAQ:ALAB)

Virtu Financial LLC acquired a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 33,770 shares of the company's stock, valued at approximately $4,473,000.

Other large investors have also bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Astera Labs during the fourth quarter worth $25,000. Steward Partners Investment Advisory LLC increased its holdings in Astera Labs by 99.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock worth $26,000 after purchasing an additional 99 shares in the last quarter. Kestra Investment Management LLC bought a new position in Astera Labs in the fourth quarter valued at about $28,000. Geneos Wealth Management Inc. bought a new position in Astera Labs in the fourth quarter valued at about $36,000. Finally, Global Retirement Partners LLC boosted 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 valued at $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 7.3 %

ALAB stock traded down $5.24 during mid-day trading on Wednesday, reaching $66.95. The company's stock had a trading volume of 3,010,451 shares, compared to its average volume of 3,668,625. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39. The business's 50 day moving average price is $89.05 and its 200 day moving average price is $90.03. The company has a market cap of $10.86 billion and a price-to-earnings ratio of -38.70.

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Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate 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 analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Insider Activity

In other news, Director Michael E. Hurlston sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 in the company, valued at $8,452,391.52. The trade was a 2.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jitendra Mohan sold 350,680 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total value of $31,389,366.80. Following the completion of the transaction, the chief executive officer now owns 2,353,655 shares in the company, valued at approximately $210,675,659.05. This represents a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 570,990 shares of company stock worth $50,242,702.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ALAB shares. Raymond James started coverage on shares of Astera Labs in a report on Friday, March 14th. They issued an "outperform" rating and a $82.00 price objective for the company. Barclays raised their price target on shares of Astera Labs from $87.00 to $135.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Northland Capmk raised shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 28th. Craig Hallum increased their price objective on Astera Labs from $105.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Finally, Morgan Stanley cut their target price 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. One investment 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 company. According to MarketBeat, Astera Labs currently has a consensus rating of "Buy" and an average price target 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.