Wealth Architects LLC Invests $763,000 in Astera Labs, Inc. (NASDAQ:ALAB)

Wealth Architects LLC acquired a new stake in Astera Labs, Inc. (NASDAQ:ALAB - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 5,757 shares of the company's stock, valued at approximately $763,000.

Other hedge funds have also recently bought and sold shares of the company. SlateStone Wealth LLC raised its holdings in shares of Astera Labs by 15.0% in the fourth quarter. SlateStone Wealth LLC now owns 18,400 shares of the company's stock valued at $2,437,000 after purchasing an additional 2,400 shares during the last quarter. CV Advisors LLC bought a new stake in Astera Labs during the 4th quarter worth about $265,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Astera Labs during the 4th quarter worth about $599,000. Natixis Advisors LLC bought a new position in shares of Astera Labs in the 4th quarter valued at about $2,871,000. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of Astera Labs in the fourth quarter valued at about $1,693,000. 60.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ALAB has been the topic of several recent analyst reports. Raymond James initiated coverage on Astera Labs in a research report on Friday, March 14th. They set an "outperform" rating and a $82.00 price target on the stock. Northland Capmk upgraded shares of Astera Labs from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 28th. Morgan Stanley cut their target price on shares of 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. Northland Securities raised Astera Labs from a "market perform" rating to an "outperform" rating and set a $120.00 price objective for the company in a research report on Tuesday, January 28th. Finally, Craig Hallum increased their price target on Astera Labs from $105.00 to $125.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $112.77.

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Insider Activity at Astera Labs

In other news, CFO Michael Truett Tate sold 34,474 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $92.07, for a total value of $3,174,021.18. Following the completion of the sale, the chief financial officer now directly owns 244,242 shares in the company, valued at $22,487,360.94. This trade represents a 12.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Philip Mazzara sold 7,536 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $92.07, for a total value of $693,839.52. Following the sale, the general counsel now 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 disclosure for this sale can be found here. Insiders have sold a total of 570,990 shares of company stock worth $50,242,702 in the last 90 days.

Astera Labs Stock Performance

Shares of NASDAQ:ALAB traded up $2.13 during midday trading on Friday, hitting $71.10. 3,649,365 shares of the stock were exchanged, compared to its average volume of 3,734,348. Astera Labs, Inc. has a 12 month low of $36.22 and a 12 month high of $147.39. The stock has a market capitalization of $11.53 billion and a price-to-earnings ratio of -41.10. The business's 50-day moving average price is $92.41 and its 200 day moving average price is $88.70.

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 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, sell-side analysts expect that Astera Labs, Inc. will post 0.34 EPS for the current year.

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.