Proficio Capital Partners LLC increased its stake in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 1,008.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 235,364 shares of the company's stock after purchasing an additional 214,128 shares during the quarter. Proficio Capital Partners LLC owned 0.15% of Astera Labs worth $31,174,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP raised its position in Astera Labs by 445.5% in the third quarter. Allworth Financial LP now owns 1,091 shares of the company's stock worth $57,000 after acquiring an additional 891 shares in the last quarter. Strategic Blueprint LLC grew its stake in shares of Astera Labs by 3.6% during the 3rd quarter. Strategic Blueprint LLC now owns 5,684 shares of the company's stock worth $298,000 after purchasing an additional 195 shares during the period. US Bancorp DE purchased a new position in shares of Astera Labs in the 3rd quarter valued at about $46,000. Realta Investment Advisors acquired a new stake in shares of Astera Labs in the third quarter valued at about $244,000. Finally, Janney Capital Management LLC purchased a new stake in Astera Labs during the third quarter worth about $388,000. 60.47% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the stock. Craig Hallum lifted their price target on shares of Astera Labs from $105.00 to $125.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. Northland Securities upgraded Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price target for the company in a research report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Astera Labs from $60.00 to $100.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Roth Mkm increased their target price on Astera Labs from $80.00 to $105.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Finally, Northland Capmk upgraded shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 28th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Astera Labs currently has an average rating of "Buy" and a consensus price target of $115.33.
View Our Latest Analysis on ALAB
Insider Activity at Astera Labs
In related news, General Counsel Philip Mazzara sold 7,536 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total transaction of $693,839.52. Following the sale, the general counsel now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Manuel Alba sold 11,000 shares of Astera Labs stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $117.50, for a total transaction of $1,292,500.00. Following the completion of the transaction, the director now directly owns 456,863 shares of the company's stock, valued at $53,681,402.50. This trade represents a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 597,990 shares of company stock valued at $53,420,642.
Astera Labs Stock Up 4.2 %
Shares of Astera Labs stock traded up $2.85 during trading hours on Tuesday, hitting $70.53. The company's stock had a trading volume of 5,348,985 shares, compared to its average volume of 3,761,354. The business has a fifty day moving average of $110.51 and a 200 day moving average of $87.02. Astera Labs, Inc. has a 1-year low of $36.22 and a 1-year high of $147.39. The company has a market capitalization of $11.44 billion and a PE ratio of -41.20.
Astera Labs (NASDAQ:ALAB - Get Free Report) last released its quarterly earnings results on Monday, February 10th. The company reported $0.10 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%. On average, sell-side analysts anticipate that Astera Labs, Inc. will post 0.34 earnings per share for the current fiscal year.
About Astera Labs
(
Free Report)
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.
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