22,652 Shares in Astera Labs, Inc. (NASDAQ:ALAB) Purchased by F M Investments LLC

F M Investments LLC acquired a new position in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 22,652 shares of the company's stock, valued at approximately $3,000,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Astera Labs during the fourth quarter worth approximately $25,000. Steward Partners Investment Advisory LLC lifted its holdings in shares of Astera Labs by 99.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 199 shares of the company's stock worth $26,000 after purchasing an additional 99 shares during the period. Kestra Investment Management LLC purchased a new position in shares of Astera Labs during the 4th quarter worth approximately $28,000. Geneos Wealth Management Inc. purchased a new position in shares of Astera Labs in the 4th quarter valued at about $36,000. Finally, Global Retirement Partners LLC grew its holdings 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 worth $39,000 after acquiring an additional 284 shares during the period. 60.47% of the stock is owned by hedge funds and other institutional investors.

Astera Labs Trading Down 1.4 %

ALAB stock traded down $0.85 during mid-day trading on Wednesday, hitting $59.23. The stock had a trading volume of 1,111,806 shares, compared to its average volume of 3,777,248. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39. The firm has a market capitalization of $9.60 billion and a P/E ratio of -34.24. The firm has a fifty day simple moving average of $71.63 and a 200 day simple moving average of $90.96.

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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 (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%. As a group, equities analysts expect that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Philip Mazzara sold 7,536 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total value of $693,839.52. Following the completion of the sale, the general counsel now owns 241,209 shares of the company's stock, valued at approximately $22,208,112.63. This represents a 3.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jitendra Mohan sold 350,680 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $89.51, for a total transaction of $31,389,366.80. Following the completion of the sale, the chief executive officer now directly owns 2,353,655 shares of the company's stock, 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. In the last ninety days, insiders have sold 633,990 shares of company stock valued at $54,235,012.

Wall Street Analysts Forecast Growth

ALAB has been the topic of several analyst reports. Raymond James started coverage on shares of Astera Labs in a research note on Friday, March 14th. They set an "outperform" rating and a $82.00 price target on the stock. Morgan Stanley dropped 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. Stifel Nicolaus lifted their price objective on Astera Labs from $100.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Craig Hallum raised 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. Finally, Barclays boosted their target price 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. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Astera Labs presently has a consensus rating of "Buy" and a consensus price target of $113.42.

Astera Labs Company 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.