Vontobel Holding Ltd. Makes New $2.71 Million Investment in Astera Labs, Inc. (NASDAQ:ALAB)

Vontobel Holding Ltd. acquired a new stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 20,420 shares of the company's stock, valued at approximately $2,705,000.

Other hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. bought a new position in shares of Astera Labs during the fourth quarter worth approximately $36,000. ORG Wealth Partners LLC bought a new position in shares of Astera Labs during the fourth quarter worth approximately $42,000. Empowered Funds LLC bought a new position in shares of Astera Labs during the fourth quarter worth approximately $60,000. Hollencrest Capital Management bought a new position in shares of Astera Labs during the third quarter worth approximately $26,000. Finally, GAMMA Investing LLC increased its stake in shares of Astera Labs by 78.3% during the fourth quarter. GAMMA Investing LLC now owns 510 shares of the company's stock worth $68,000 after purchasing an additional 224 shares during the period. 60.47% of the stock is owned by institutional investors and hedge funds.

Astera Labs Stock Down 1.6 %

Shares of ALAB traded down $1.47 during midday trading on Thursday, hitting $88.43. The company's stock had a trading volume of 3,857,090 shares, compared to its average volume of 5,509,410. Astera Labs, Inc. has a one year low of $36.22 and a one year high of $147.39. The company's fifty day simple moving average is $118.33 and its two-hundred day simple moving average is $84.52. The stock has a market capitalization of $14.34 billion and a price-to-earnings ratio of -51.12.

Astera Labs (NASDAQ:ALAB - Get Free Report) last issued 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 net margin of 21.05% and a negative return on equity of 10.76%. On average, research analysts predict that Astera Labs, Inc. will post 0.34 earnings per share for the current year.

Insider Activity at Astera Labs

In related news, CEO Jitendra Mohan sold 173,366 shares of the firm's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $110.12, for a total transaction of $19,091,063.92. Following the sale, the chief executive officer now owns 600,000 shares of the company's stock, valued at $66,072,000. This trade represents a 22.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Stefan A. Dyckerhoff sold 7,814 shares of the firm's stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $107.17, for a total value of $837,426.38. Following the sale, the director now directly owns 121,803 shares in the company, valued at approximately $13,053,627.51. This trade represents a 6.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 468,180 shares of company stock valued at $49,959,630 in the last 90 days.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Needham & Company LLC reiterated a "buy" rating and set a $140.00 target price on shares of Astera Labs in a research note on Tuesday, February 11th. Citigroup assumed coverage on Astera Labs in a research note on Monday, November 18th. They set a "buy" rating and a $120.00 target price on the stock. Stifel Nicolaus increased their target price on Astera Labs from $100.00 to $150.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Roth Mkm raised their price objective on Astera Labs from $80.00 to $105.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. raised their price objective on Astera Labs from $70.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $115.33.

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.