Toronado Partners LLC Sells 183,189 Shares of Astera Labs, Inc. (NASDAQ:ALAB)

Toronado Partners LLC lessened its holdings in shares of Astera Labs, Inc. (NASDAQ:ALAB - Free Report) by 61.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,811 shares of the company's stock after selling 183,189 shares during the period. Astera Labs makes up 9.8% of Toronado Partners LLC's holdings, making the stock its 5th biggest position. Toronado Partners LLC owned approximately 0.07% of Astera Labs worth $15,472,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC grew its position in Astera Labs by 99.0% during the 4th 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. Whittier Trust Co. of Nevada Inc. acquired a new stake in Astera Labs during the fourth quarter worth about $25,000. Kestra Investment Management LLC acquired a new stake in Astera Labs during the fourth quarter worth about $28,000. GAMMA Investing LLC raised its position in Astera Labs by 78.3% during the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company's stock valued at $68,000 after acquiring an additional 224 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in Astera Labs by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 4,757 shares of the company's stock valued at $630,000 after acquiring an additional 237 shares during the period. 60.47% of the stock is currently owned by institutional investors and hedge funds.

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Insider Transactions at Astera Labs

In other Astera Labs news, Director Michael E. Hurlston sold 2,500 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $92.08, for a total value of $230,200.00. Following the completion of the sale, the director now directly owns 91,794 shares in the company, valued at $8,452,391.52. This represents a 2.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Manuel Alba sold 63,000 shares of Astera Labs stock in a transaction on Wednesday, April 2nd. The stock was 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 in the company, valued at approximately $28,190,968.31. This represents a 12.40 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 633,990 shares of company stock valued at $54,235,012.

Analyst Upgrades and Downgrades

ALAB has been the topic of a number of analyst reports. Raymond James began coverage on shares of Astera Labs in a research note on Friday, March 14th. They set an "outperform" rating and a $82.00 price objective on the stock. Northland Securities upgraded shares of Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price target on the stock in a research report on Tuesday, January 28th. Morgan Stanley cut their price objective on shares of Astera Labs from $142.00 to $114.00 and set an "equal weight" rating for the company in a report on Tuesday, January 28th. Needham & Company LLC reissued a "buy" rating and set a $140.00 target price on shares of Astera Labs in a research note on Tuesday, February 11th. Finally, Barclays raised their target price on Astera Labs from $87.00 to $135.00 and gave the company an "overweight" rating in a research report on Friday, January 17th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $111.23.

Astera Labs Stock Down 1.2 %

Shares of Astera Labs stock traded down $0.72 during mid-day trading on Monday, reaching $59.41. 3,717,907 shares of the stock traded hands, compared to its average volume of 3,788,406. The stock has a market capitalization of $9.63 billion and a PE ratio of -34.34. The business has a 50-day moving average of $72.52 and a 200 day moving average of $91.18. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted 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%. On average, equities research analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

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.