Artisan Partners Limited Partnership Sells 208,947 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Artisan Partners Limited Partnership lowered its position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 48.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 222,022 shares of the company's stock after selling 208,947 shares during the period. Artisan Partners Limited Partnership owned 0.14% of Astera Labs worth $29,407,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ALAB. Steward Partners Investment Advisory LLC increased 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 worth $26,000 after acquiring an additional 99 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of Astera Labs during the fourth quarter valued at approximately $25,000. Kestra Investment Management LLC bought a new stake in shares of Astera Labs in the 4th 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 worth $68,000 after acquiring an additional 224 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of Astera Labs by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 4,757 shares of the company's stock worth $630,000 after acquiring an additional 237 shares during the last quarter. Hedge funds and other institutional investors own 60.47% of the company's stock.

Astera Labs Trading Up 4.6 %

NASDAQ ALAB traded up $2.88 on Wednesday, hitting $64.89. 1,183,285 shares of the company traded hands, compared to its average volume of 3,654,782. The business's 50 day moving average price is $82.28 and its 200-day moving average price is $90.80. Astera Labs, Inc. has a 52-week low of $36.22 and a 52-week high of $147.39. The company has a market capitalization of $10.52 billion and a price-to-earnings ratio of -37.09.

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Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The company reported $0.10 earnings per share (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, sell-side analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Jitendra Mohan sold 350,680 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 2,353,655 shares in the company, valued at $210,675,659.05. The trade was a 12.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael Truett Tate sold 125,800 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $82.53, for a total value of $10,382,274.00. Following the sale, the chief financial officer now owns 244,242 shares of the company's stock, valued at $20,157,292.26. This 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 worth $50,242,702 over the last three months.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ALAB shares. Northland Capmk upgraded shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 28th. Needham & Company LLC reiterated a "buy" rating and set a $140.00 price target on shares of Astera Labs in a report on Tuesday, February 11th. Northland Securities upgraded shares of Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price objective for the company in a report on Tuesday, January 28th. 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 research note on Tuesday, January 28th. Finally, Raymond James initiated coverage on Astera Labs in a research note on Friday, March 14th. They issued an "outperform" rating and a $82.00 price target for the company. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Astera Labs presently has a consensus rating of "Buy" and a consensus target price of $112.77.

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.