Raymond James Financial Inc. Invests $35.10 Million in Astera Labs, Inc. (NASDAQ:ALAB)

Raymond James Financial Inc. purchased a new position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 265,003 shares of the company's stock, valued at approximately $35,100,000. Raymond James Financial Inc. owned about 0.17% of Astera Labs at the end of the most recent reporting period.

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

Insiders Place Their Bets

In related news, CEO Jitendra Mohan sold 350,680 shares of the stock in a transaction that occurred on 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Manuel Alba sold 63,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $63.37, for a total value of $3,992,310.00. Following the transaction, the director now owns 444,863 shares of the company's stock, valued at $28,190,968.31. This represents a 12.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 633,990 shares of company stock worth $54,235,012 in the last three months.

Astera Labs Price Performance

Shares of ALAB stock traded up $0.89 on Tuesday, hitting $55.31. 2,471,449 shares of the stock traded hands, compared to its average volume of 3,805,821. The firm has a market cap of $8.97 billion and a price-to-earnings ratio of -31.97. The firm has a 50 day simple moving average of $67.92 and a two-hundred day simple moving average of $91.18. Astera Labs, Inc. has a 52 week low of $36.22 and a 52 week high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last announced its quarterly earnings data 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 net margin of 21.05% and a negative return on equity of 10.40%. Sell-side analysts forecast that Astera Labs, Inc. will post 0.34 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Craig Hallum increased their price target on Astera Labs from $105.00 to $125.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Northland Securities raised Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 target price on the stock in a report on Tuesday, January 28th. Morgan Stanley cut their price target on Astera Labs from $142.00 to $114.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 28th. Raymond James assumed coverage on shares of Astera Labs in a research report on Friday, March 14th. They set an "outperform" rating and a $82.00 price target for the company. Finally, Northland Capmk raised shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 28th. One analyst has rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $109.25.

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.