Arete Wealth Advisors LLC Takes $1.05 Million Position in Astera Labs, Inc. (NASDAQ:ALAB)

Arete Wealth Advisors LLC purchased a new stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,950 shares of the company's stock, valued at approximately $1,053,000.

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

Analysts Set New Price Targets

A number of analysts have recently commented on ALAB shares. Northland Securities upgraded Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price target on the stock in a report on Tuesday, January 28th. Northland Capmk raised shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 28th. Morgan Stanley lowered 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 note on Tuesday, January 28th. Barclays increased their price objective on shares of Astera Labs from $87.00 to $135.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $140.00 target price on shares of Astera Labs in a research report on Tuesday, February 11th. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Astera Labs currently has a consensus rating of "Buy" and an average target price of $112.77.

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Astera Labs Stock Performance

NASDAQ:ALAB traded down $6.56 during mid-day trading on Thursday, reaching $57.77. 1,662,952 shares of the company's stock were exchanged, compared to its average volume of 3,752,709. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39. The business's fifty day simple moving average is $75.08 and its two-hundred day simple moving average is $90.78. The firm has a market capitalization of $9.37 billion and a PE ratio of -33.42.

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

Insider Buying and Selling

In other news, CFO Michael Truett Tate sold 34,474 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total transaction of $3,174,021.18. Following the completion of the transaction, the chief financial officer now owns 244,242 shares of the company's stock, valued at approximately $22,487,360.94. The trade was a 12.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jitendra Mohan sold 350,680 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $89.51, for a total value of $31,389,366.80. Following the completion of the sale, the chief executive officer now directly owns 2,353,655 shares in the company, valued at $210,675,659.05. This trade represents a 12.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 633,990 shares of company stock valued at $54,235,012 over the last quarter.

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.