Virtus Wealth Solutions LLC Acquires New Position in Astera Labs, Inc. (NASDAQ:ALAB)

Virtus Wealth Solutions LLC acquired a new position in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 73,894 shares of the company's stock, valued at approximately $9,787,000. Astera Labs makes up approximately 2.3% of Virtus Wealth Solutions LLC's investment portfolio, making the stock its 9th largest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of ALAB. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Astera Labs during the fourth quarter valued at approximately $25,000. Steward Partners Investment Advisory LLC increased its position 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 acquiring an additional 99 shares during the period. Kestra Investment Management LLC bought a new stake in shares of Astera Labs during the fourth quarter valued at approximately $28,000. Geneos Wealth Management Inc. purchased a new stake in shares of Astera Labs in the fourth quarter valued at approximately $36,000. Finally, Global Retirement Partners LLC grew its stake 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 in the last quarter. 60.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Manuel Alba sold 63,000 shares of Astera Labs stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $63.37, for a total transaction of $3,992,310.00. Following the sale, the director now owns 444,863 shares in the company, valued at approximately $28,190,968.31. The trade was a 12.40 % decrease in their ownership of the stock. The transaction 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 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 sale, the chief executive officer now owns 2,353,655 shares of the company's stock, valued at $210,675,659.05. This trade represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 633,990 shares of company stock worth $54,235,012 over the last 90 days.

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Astera Labs Stock Up 1.1 %

NASDAQ ALAB traded up $0.67 on Tuesday, hitting $60.08. 2,298,548 shares of the stock were exchanged, compared to its average volume of 3,787,631. Astera Labs, Inc. has a fifty-two week low of $36.22 and a fifty-two week high of $147.39. The company has a 50-day moving average price of $71.63 and a 200-day moving average price of $90.96. The company has a market cap of $9.74 billion and a PE ratio of -34.73.

Astera Labs (NASDAQ:ALAB - Get Free Report) last posted its 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 net margin of 21.05% and a negative return on equity of 10.40%. As a group, equities research analysts predict that Astera Labs, Inc. will post 0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ALAB shares. Craig Hallum increased their price objective on shares of Astera Labs from $105.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Northland Capmk upgraded Astera Labs from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 28th. Morgan Stanley dropped their price objective on Astera Labs from $142.00 to $114.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 28th. Northland Securities upgraded Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 target price on the stock in a research note on Tuesday, January 28th. Finally, Needham & Company LLC restated a "buy" rating and issued a $140.00 price target on shares of Astera Labs in a report on Tuesday, February 11th. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $111.23.

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.